Queens auction produces $3M in winning bids

This Long Island City house fetched the highest price among eight properties at auction.

With three of 11 properties withdrawn, the estate auction of ultimately one co-op and seven houses in Queens netted $2.944 million for the city today.

The total topped the collective minimum price of $1.991 million by nearly $1 million.  The gain amounted to 48 percent more than the sum of what Queens Public Administrator Lois Rosenblatt terms the “upset price.”

Properties on the block ranged in price between $120,000 and $600,000 in neighborhoods including Long Island City, Jamaica and Jackson Heights.

Below are the results: Continue reading

Auction scheduled of 10 Queens residences

This house in Long Island City requires the highest minimum bid, $600,000.

The estate auction of two co-ops and eight houses in Queens is to take place on Dec. 12.

Queens Public Administrator Lois Rosenblatt scheduled the auction of properties ranging in price between $100,000 and $600,000 in neighborhoods including Long Island City, Jamaica and Jackson Heights.

Below are the residences headed for the auction block, Continue reading

Queens auction tops minimum by 28 percent

The winning bid for this East Elmhurst house went way over the upset price of $488,000. (Source: Queens public administrator)

Winning bids at Wednesday’s estate auction of eight houses and three co-ops totaled $4.135 million, 28 percent more than the $3.201 million sum of the minimum prices set by Queens Public Administrator Lois Rosenblatt.

The East Elmhurst property shown above was the standout: It reached $740,000 vs. the upset price of $488,000.

Minimum (upset) prices are set by Rosenblatt at 25 percent below the appraised value.

Included in the auction were properties in Brooklyn, Bellerose and Flushing.

Below are the properties that were offered with winning bids in boldface following the upset prices: Continue reading

Low-priced apartments, houses dominate Queens public administrator’s auction to be held Sept. 12

Minimum bid for this East Elmhurst house is $488,000. (Source: Queens public administrator)

Queens Public Administrator Lois Rosenblatt has scheduled the estate auction of eight houses and three co-operative apartments on Sept. 12.

Included in the auction are properties in Brooklyn, Bellerose and Flushing.

Minimum (upset) prices, which are set by Rosenblatt at 25 percent below the appraised value, range from $74,000 for an apartment in Jackson Heights to $488,000 for the house shown above in East Elmhurst.

Below are the properties to be offered next week: Continue reading

Bidding tops minimum for Queens homes by 36%

Single-family home at 23-31 37th St., Long Island City, fetches highest price in public administrator’s auction, going way over its minimum.

The auction Wednesday of 15 apartments and single-family homes in an estate sale by Queens Public Administrator Lois Rosenblatt will add $6.012 million to the city’s coffers.

All of the properties remaining after three apartments were routinely withdrawn before the event, which was held in the State Supreme Court building in Jamaica, found buyers.

Proceeds exceeded by $1.6 million the total of $4.412 minimum prices set by the public administrator, or 36 percent.

Although a Long Island City house that had been withdrawn from previous sales twice received the highest winning bid, $935,000, a Woodside house that went for $315,000 registered the biggest percentage gain over the minimum.

The Long Island City property went for Continue reading

Queens administrator to auction off 18 properties

2 South Country Rd., Westhampton

Queens Public Administrator Lois Rosenblatt has scheduled the estate auction of 13 houses and five co-operative apartments for June 13.

Included in the auction are properties in Little Neck, Westhampton and Monticello.

Minimum (upset) prices, which are set by Rosenblatt at 25 percent below the appraised value, range from $64,000 for an apartment in Jackson Heights to $675,000 for a house in Long Island City that was withdrawn prior to the administrator’s sales in December and March.

Below are the properties to be offered next month: Continue reading

Winning bids total 40% above minimum in Queens

85-10 Park Lane South, Woodhaven

The estate auction of ultimately 14 properties on Tuesday produced $5.83 million in winning bids, according to Queens Public Administrator Lois Rosenblatt.

The total was 40 percent higher than the collective $3.772 million minimum.

Although Rosenblatt’s office has told me that the public administrator typically sets minimum bids at 25 percent above appraised values, some of the properties obviously went for considerably more.

The results seem to suggest a trend of rising interest in Queens residences that was detectable in Rosenblatt’s previous event.

A Corona house that was owned by one George Williams actually was hammered down for more than twice its upset price Continue reading