real estate sales: Get those certified checks to bid at city auction
- 07/06/10 03:25 AM
3 Hanover Square Bidders will have the opportunity on July 29 to win an apartment at the city’s estate auction of five co-ops and a condo ranging from the Financial District all the way up to Washington Heights. Manhattan Public Administrator Ethel J. Griffin will seek to dispose of the properties, which can be inspected July 13, 15, 19 and 22 from 10 a.m. to 2 p.m. each day. Two of the properties failed to sell at the last auction, and had the amount of their minimum bids cut, so this is your second chance. (Should they go unsold this … (0 comments)
real estate sales: Interest is heats up for absolute auction of condos
- 06/24/10 08:25 AM
Flickr photo by Capture Queen. Although I have been writing about real estate auctions for some time, the interest that I have observed in the selling of six condos at 127 Madison Avenue in Manhattan this coming Sunday at the Roosevelt Hotel has been intense. Hundreds of readers have looked at my posts on the auction, an unprecedented four readers have called me for advice on the sale, and two asked me to represent them at the auction (before I explained to them the hazards that they faced if their bids were accepted). Paul Jaber, a hedge fund executive who studied … (0 comments)
real estate sales: With bargains at auction, there often is more than meets the eye
- 06/07/10 02:29 AM
Model apartment at the m127 condominium. Potential bidders may snag a baragain in the auction June 27 of unsold condos in a small new development in the heart of Manhattan. Or, they may get more than they bargained for. Indeed, winning bidders may well regret their success at the absolute auction of five of the condos plus the penthouse (subject to the seller’s confirmation and, therefore, not an absolute sale) at 127 Madison Avenue, dubbed m127. It turns out there is much information about the auction that perhaps will proves instructive regarding auctions in general, a veritable testament to caveat … (0 comments)
real estate sales: Carlin had 7 dirty words, and brokers have but 1
- 06/05/10 06:21 AM
A broker friend of mine I'll call Lily recently related an encounter of hers that bears retelling. She has an old acquaintance who wants to list his two adjoining apartments totaling something like 10 rooms in a building on Manhattan’s Upper West Side. Naturally, he called Lily to see whether she would be the right broker to market the pre-war condo. A highly successful broker for the last 27 years who seems to know every apartment in the neighborhood, not just every building, she spent hours analyzing comparable listings and visiting other large apartments that came on the market. Then she … (30 comments)
real estate sales: Price can cause stumble in running board gauntlet
- 06/02/10 02:56 AM
"Running the Gauntlet" by amber in norfolk on Flickr. One of the most pernicious aspects of purchase approvals by the boards of co-operative apartment buildings in Manhattan has to do with price. Boards have an obvious interest in analyzing whether prospective shareholders have the financial resources to keep their monthly maintenance charges from falling into arrears. They also want to ascertain, so far as possible, whether the buyers will be involved and pleasant members of their small community. Are they nice? Do they give big parties? Are they noisy? Does their application appear to be truthful? Some boards also like … (0 comments)
real estate sales: For renovations, sellers likely pay a heavy price
- 06/01/10 08:24 AM
West End Avenue (Flickr photo by claudiadaggett) There is one axiom in real estate that sellers rarely get: In a slow market, it normally is all but impossible to recoup the cost of a major renovation. A one-bedroom apartment that is handsome, stylish and uncommonly appealing exemplifies that truth. At the height of the housing market, the current owners purchased the 850-sf co-op in a distinguished pre-war doorman building for $575,000 in 2007 and then undertook a year-long renovation that set them back significantly in excess of $200,000. They made not a single discernible mistake in doing so – except … (1 comments)
real estate sales: Condos slated for auction in Manhattan, Brooklyn
- 05/24/10 02:17 AM
On Wednesday, a two-bedroom unit in this Canarsie condominium goes on the block. As for the Manhattan units, June 27. A foreclosed 1,063-sf apartment that has two bedrooms and one bath in the 1989 Brook Club Condo, which has a pool, is to be auctioned on Wednesday. At 1229 E. 80th St., unit 180 will go on the block with an opening bid of $50,000. Monthly fees of $185 include common area maintenance and insurance, exterior maintenance and insurance, lawn care, snow removal, trash and water. An outfit called Williams & Williams is conducting the auction at 4:30 p.m. on May … (0 comments)
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