If you have your heart set on buying an apartment or single-family home in Riverdale or Queens, you may well get a great deal in two separate auctions announced over the weekend.
First, Riverdale in the Bronx. The Solaria, a 20-story condominium on W. 237th Street, towers over the surrounding low-rise neighborhood with a glass-walled facade that echoes the sleek buildings now seen all over Manhattan, the New York Times observes.
It has a rooftop observatory with a telescope, a children’s playroom, an entertainment center and lounge, balconies, on-site parking, large layouts — in short, everything except buyers. As of last week, only 10 buyers had actually closed on apartments, the last in September 2008.
Now the developer is offering the remaining 54 units at auction on Nov. 22 in what Jim Corum, the president of REDC, the California auction company that is handling the sale, called an “accelerated marketing plan.” He said it presumably with a straight face. Continue reading →