A 1BR UES co-op goes on the block July 26

240 E. 76th St. in Manhattan

Advertised as a one-bedroom, one-bath 500-sf co-op, apartment No. 5A at 240 E. 76th St. is headed for a foreclosure auction on Monday, July 26 with a $50,000 minimum bid.

But photographs of the unit on the Williams & Williams auction site suggest that it’s really a studio, at least in Manhattan nomenclature, with monthly maintenance of $725.

The "one-bedroom" unit is to be auctioned subject to owner's approval.

This is not an absolute auction, so the winning bid is subject to the owner’s approval.  That would be the lender. Other requirements: Continue reading