Two suburban houses attract winning bids, barely

Rear view of house on Long Island that received highest bid of just over $1 million at an auction on Sunday.   (Source: Sheldon Good & Co.)

Despite strong early interest, two distinctive suburban properties in separate auctions suffered little competition among bidders on Sunday.

Only two of four registered bidders raised their hands in the auction of a 3,988-sf residence designed by architect Norman Jaffe in the Laurel Hollow village of Oyster Bay on Long Island’s North Shore

At the Mark Hotel on the Upper East Side, the house was gaveled down after receiving a mere three bids — a $1 million minimum opener, then $1.010 million and finally Continue reading

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Three choice suburban houses head to auction

1880 restored Victorian on 2.84 acres north of Manhattan in Armonk.  It has heated pool and carriage house.  (Source: Sheldon Good & Co.)

Update: The Armonk and Laurel Hollow auction date has been changed to Nov. 18, apparently because of Sandy.  Ditto for the Pierson Lakes sale, to be conducted in early December at a date to be determined.

Impressive-looking houses in the New York State communities of Armonk, Laurel Hollow and Sterlington are scheduled to go on the auction block next month.

Besides the 3,884-sf Armonk property shown above, also to be sold are a 3,988-sf residence designed by architect Norman Jaffe in the Laurel Hollow village of Oyster Bay on Long Island’s North Shore and a 10,000-sf model home in the Pierson Lakes community of Rockland County’s Sterlington.

Model home to be auctioned in Sterlington, said to be “inspired” by 17th century New England architecture.  (Source: Madison Hawk)

In addition, Continue reading

The Big Apple: Rents up, condo owners sinking

Luxury markets pulls up Q2 average price, though volume declines

Overall sales volume of condominiums and cooperative apartments in Manhattan has been off about 11 percent so far in the second quarter compared with same period last year, according to a Wall Street Journal analysis of the city’s data.

A year ago, the market was bouncing back strongly from the after-effects of the financial crisis.

Prices have remained flat. Data on closings show that median prices in the second quarter were 1.2 percent below prices during the year-earlier period, while average prices rose by 1.5 percent.

The average price for a Manhattan apartment was about $1.39 million in the latest period. The figures are based on closings filed with the city as of 15 days before the end of each quarter.

Russians are invading Continue reading

The High Road: What’s up with Sheldon Good in its upcoming auction of condos in Manhattan and Queens?

I’m old-fashioned in at least one respect.  I get the New York Times delivered to my door, and that’s how I normally learn about real estate auctions.

Whether by the public administrators of Queens, Manhattan and Brooklyn or by companies that specialize in such auctions, advertisements in print are the norm.

Not so, it seems, with Sheldon Good & Co., Continue reading

25 condos in Long Island City tower set for auction

Unit in East River Tower (via Sheldon Good & Co.)

An auction (with undisclosed) reserve prices of 25 units in Long Island City’s poorly situated East River Tower is scheduled to take place in Manhattan on Feb. 13.

Originally priced from $385,000 to $870,000, the one- and two-bedroom condos have balconies, washer/dryers, high ceiling, oak floors, granite countertops in the kitchen with glass-tile backsplashes and, of course, stainless-steel appliances, and marble-tiled baths with whirlpool tubs.

At 11-24 31st Ave., the doorman building itself offers a fitness room, parking garage and 15-year tax abatement.

Minimum bids of 60-67 percent less than the original prices of 15 of the units range from Continue reading

N.J. dad wins Times Square condo at auction

Bankruptcy auction of Times Square condo attracts a crowd.

At the Hotel Roosevelt on Friday, a financial planner from New Jersey was the winning bidder for a 668-sf, one-bedroom, one-bath condo on the 10th floor of a new development overlooking Times Square. Continue reading