Madoff belongings and real estate head to auctions

That postponed auction of apartment 11E at 1056 Fifth Avenue, along with four other Manhattan properties, now is scheduled for Nov. 19.

The 1250-sf co-op has two bedrooms and two baths, with maintenance of $2,176 month.  It is the estate of one Anne Mogol, and the minimum bid is $900,000.

That’s up from $710,000 when the auction was first announced and then postponed from the original Oct. 22 date–a clear response to the amount of interest it engendered.  (I, for one, can speak to the degree of interest from the skyrocketing number of visits to posts about the auction on this blog.)

The New York City public administrator also is putting on the block that date co-ops at 572 Grand St., 202 W. 118th St. and 1725 York Ave., plus a condo at 392 Central Park West.

Purchase of the co-ops requires board approval. Continue reading

Going, going, gone to the gutsiest bidder

Forget the beach on Sunday!  Blow off that matinee performance!  Bring money!

If you’ve got ice water in your veins and cash in your wallet, maybe you’ll want to pit yourself against those nearly 1,700 others aiming to buy at least one of the more than 150 properties in the New York area to be auctioned off at the Grand Hyatt in midtown.

The event is being held by Real Estate Disposition, which provides details on its Web site.  In March, the company’s auction of 207 properties brought in $18.6 million, according to Crain’s, which says many of the some 2,000 folks who attended won bids for properties at 50-60% of their assessed value.

Can you catch a bargain?  Continue reading