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Three of the properties were withdrawn before the sale, and none of the remaining ones failed to find a buyer.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Withdrawn from the auction were Continue reading

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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The house was one of two properties withdrawn prior to the city’s previous auction, in December.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

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

Queens administrator to auction 24 properties

In Forest Hills, this house has an upset price of $724,000

An estate auction of 16 houses and eight apartments will be conducted Sept. 13 starting at 11 a.m., according to Queens Public Administrator Lois Rosenblatt.

Minimum prices range from $83,000 for a one-bedroom co-op in Jackson Heights to $724,000 for the two-story house shown above in Forest Hills.

At 77-27 Kew Forest Lane, the house is a two-story structure being sold “subject to tenancy.”  Its owner was one Stephen Nedeicu, and taxes amount to $5,860 annually.

One of the apartments on the block is a 499-sf Manhattan studio at 101 W. 12th St., which has an upset price of $330,000.

Minimum bids are set by Rosenblatt at 25 percent below the appraised value.

Below are the properties to be auctioned Continue reading