Queens administrator auction reaps $4.9 million

Note: I’ll be taking a little time off, so there will be fewer posts next week.

The city’s estate auction of 15 Queens properties by owners who died without leaving a will garnered $4.854 million in winning bids for an even dozen apartments and single-family homes on Wednesday.

Three of the properties were withdrawn before the sale, and none of the remaining ones failed to find a buyer.

So. Ozone Park house sold for way more than the minimum.

According to results from Queens Public Administrator Lois Rosenblatt, the highest amount went for a Bayside house with a minimum bid of $536,000; the winning number was $735,000.  The lowest was for a Corona apartment that sold for the minimum of $79,000.

A house, on 135th Pl. in So. Ozone Park, fetched $485,000, an impressive 73 percent more than the upset price of $281,000.

Withdrawn from the auction were Continue reading

15 Queens properties head to city auction

Single-family home in Middle Village with minimum bid of $412,000

Three co-ops and 12 single family homes are to be offered at an estate auction conducted on March 14 by Queens Public Administrator Lois Rosenblatt.

Minimum (upset) prices, which are set by Rosenblatt at 25 percent below the appraised value, range from $79,000 for an apartment in Corona to $675,000 for a house in Long Island City.

The house was one of two properties withdrawn prior to the city’s previous auction, in December.  Also returning to the auction block is a house on 63rd Avenue in Middle Village.

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

Queens auction nets $4.4 million in winning bids

The winning bid for this house on 176th St. In Jamaica went $92,000 over the minimum of $158,000.

With six properties withdrawn prior to the sale, an estate auction conducted today by Queens Public Administrator Lois Rosenblatt produced income for the city totaling $4.405 million.

That sum was $797,000 greater than the minimums for all the remaining apartments and houses, exceeding the total by 22 percent.

The highest bid was for a Brooklyn multifamily building, which had a $604,000 minimum and which went down for Continue reading

Public administrator schedules auction of 23 properties in Queens, Brooklyn, Staten Island

Multifamily building in Brooklyn with $604,000 minimum bid

An estate auction of a Brooklyn multifamily building, five apartments and 17 single-family houses will be conducted Dec. 13 starting at 11 a.m., according to an announcement by Queens Public Administrator Lois Rosenblatt.

Minimum prices range from $78,000 for a one-bedroom co-op in Jackson Heights to $$604,000 for an apartment building in the Bedford-Stuyvesant neighborhood of Brooklyn.

Four of the properties Continue reading

Queens auction enjoys strong bidding

This property at 195 Keno Ave., Holliswood, went for 35 percent over the minimum bid.

Tuesday’s estate auction by Queens Public Administrator Lois Rosenblatt of ultimately 20 co-ops and houses Tuesday eked out 1 percent more than the total minimum bids of $$4.315 million.

The amount of winning bids reached $4.355 million.

Although I wasn’t present, the results suggest spirited bidding for the properties that went down; many of them significantly exceeded the administrator’s upset prices.

Accounting for the merely apparent weakness in the total were four properties for which nobody raised a hand.

I’d say that the auction went quite well and the results may — may — indicate that the Queens housing market is beginning to regain a modicum of health.  I don’t know to what else can be attributed the substantial sums for which many of the properties went over the minimum bids, unless they were significantly underpriced.

Below are the minimum and winning bids: Continue reading

15 houses, 6 co-ops head to auction in Queens

This Kew Gardens house has the highest upset price, $665,000, in the estate auction by Queens Public Administrator Lois Rosenblatt.

Queens Public Administrator Lois Rosenblatt has announced that an estate auction of six co-ops and 15 houses will be held on June 14 starting at 11 a.m.

Minimum prices range from $45,000 for a single-family house in Jamaica to $665,000 for one in Kew Gardens.  For the apartments, which will be sold pending board approvals, the lowest acceptable bid is $74,000 for a co-op in Corona and the top is $143,000 for a Flushing unit.

Shown above is the detached stucco house that was owned by Anna Javor at 110 82nd Road in Kew Gardens.  With a one-car garage and nearly three stories, the house sits on a 5,000-sf lot and is subject to tenancy. Taxes are $7,496 annually.

The properties to be auctioned are listed below along with Continue reading

City collects $3 million from Queens auction

The estate auction of ultimately 19 properties in various Queens neighborhoods attracted $2.969 million in winning bids last week.

Withdrawn from the sale was a two-story detached frame house in East Elmhurst, and six of the properties failed to achieve their minimum bids.

The highest bid went for the Elmhurst house shown here; It sold for $500,000, well above the upset price of $319,000.  In all, nine properties were hammered down at prices higher than the minimum set by Queens Public Administrator Lois M. Rosenblatt.

Below are the all the results of the auction, which was held March 15. Continue reading