Last bidder standing wins 1056 Fifth Avenue

The view from the 16th floor in the E line of 1056 Fifth Avenue.

In the impossibly, but gorgeously, ornate Surrogate’s Courthouse across from the Municipal Building in lower Manhattan, seven bidders competed against each other for Apartment 11E of 1056 Fifth Avenue Thursday.

Just why they bothered is a question to be considered below.  However, let’s first set the scene. Continue reading

Mark your calendar for 1056 Fifth Avenue auction

Unless the estate auction of Apartment 11E at 1056 Fifth Avenue is withdrawn at the last minute, as it was last month, you’ll have the opportunity to bid on the unit Thursday.

But don’t expect a bargain.  If visits to this blog are any indication, there will be a throng of hopefuls.  And the reserve price has been raised from $710,000 to $900,000.

Worse, the board of that building is notoriously difficult, and the purchase will require its approval.

To bid you’ll need a certified check of $90,000 and your purchase must not be subject to financing.

Still interested?  Go ye, then, to 31 Chambers Street, Room 503, at 11:30 on Nov. 19.

Good luck, you’ll need much more than that to win. Since a bargain is far from likely, I believe you’d be wiser to opt for a conventional purchase before those bidding wars that the Times chronicled yesterday escalate both in number and price.  See why in my previous post.

Meantime, Caveat emptor!

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
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Auction of Fifth Avenue co-op is postponed

The New York City’s Office of the Public Administrator says that the auction of Unit 11E at 1056 Fifth Avenue “has been withdrawn.”  A voice recording said the auction “perhaps” would be held in December.

For more on the apartment and other New York properties to be sold Oct. 22, please see the post below from last week.

Subscribe by Email

Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
http://www.ServiceYouCanTrust.com

This Fifth Avenue apartment could be a bargain

New York city is auctioning several properties on Oct. 22 at 11:30 a.m.  One of them is Apartment 11E at 1056 Fifth Avenue,  just north of 86th Street on the Upper East Side, a 1,250-sf co-op with monthly maintenance of $2,176.

This apartment 12E at 1056 Fifth Ave., and the floorplan may differ from 11E.

This floorplan of apartment 12E at 1056 Fifth Ave. (above) may differ from #11E.

You can inspect the unit, which is owned by the estate of Annie Mogol, as well as the others Oct. 13, 15 and 20 from 10 a.m. to 2 p.m. each day.  Continue reading