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Three of the properties were withdrawn before the sale, and none of the remaining ones failed to find a buyer.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Withdrawn from the auction were Continue reading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The house was one of two properties withdrawn prior to the city’s previous auction, in December.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

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With six properties withdrawn prior to the sale, an estate auction conducted today by Queens Public Administrator Lois Rosenblatt produced income for the city totaling $4.405 million.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