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Brooklyn Lyceum Owner Pushes Back Against Foreclosure
According to an article in DNAinfo, the owner of the Brooklyn Lyceum, the long-standing arts venue in the historic public bath building on 4th Avenue, is trying to rally support to try to fend off a pending foreclosure auction at the end of this month. On the Lyceum website, the owner, Eric Richmond, says that much of $5 million owed stems from a dispute with his former architect Jean Miele over a next-door lot and what Richmond claims are “exorbitant architectural fees and interest.” He says that the landmarked building might become a Duane Reade–perhaps he’s been reading our coverage where that speculation was the topic of a long thread of comments. Richmond has asked supporters to attend a hearing in Brooklyn Supreme Court on February 19.
Brooklyn Luceum Owner Warns That Venue Could Become Duane Reade [DNAinfo]
Photo Via PropertyShark
02/13/2013 10:30 AM
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Brooklyn Lyceum Slated for Auction
The Brooklyn Lyceum on 4th Avenue and President Street on the border of Park Slope and Gowanus is headed for a foreclosure auction. The café and theater space in the former bath house is facing a lien of over $5 million. The property is owned by an LLC run by Eric Richmond who converted it to a cultural space in the 1990s–it now has three separate stages. According to The Real Deal, the lien consists of four separate mortgages taken out between 2003 and 2006. The building was a public bathhouse from 1908 until 1937 and re-opened as a city-run gymnasium in the 1940s before closing in the early 1970s. It was then used by a transmission repair business. It was placed on the National Register for Historic Places in 1985, and had been landmarked a couple of years prior to that. The building is scheduled to be auctioned on February 28 at 360 Adams Street in Brooklyn.
Brooklyn Lyceum Building to Hit Auction Block [The Real Deal]
Building of the Day: 227 Fourth Avenue [Brownstoner]
Photo via PropertyShark
02/05/2013 9:30 AM
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Kings County Auctions off Brooklyn Homes
Kings County is auctioning off ten Brooklyn properties, all houses except for one mixed-use building, tomorrow. Most are estates; one house was in a fire. The open houses for the properties took place over the weekend. We anticipate a lot of interest in a Bed Stuy brownstone, a two-family wood frame in Bushwick, and a brick townhouse in Williamsburg. (That’s 51 Havemeyer Street, above.) Opening bids for the three are set at $370,000, $250,000 and $890,000, respectively. Participants must arrive at 12:45 to pre-register for the 2 pm auction at the Brooklyn Supreme Court Building at 360 Adams Street. They must bring a certified or bank check with 10 percent of the opening bid price and a blank check for the rest of the balance. Has anyone ever attended one of these? If anyone checks this out, let us know. (more…)
12/17/2012 9:30 AM
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Big Bay Ridge Sale at Kings County Auction
A big Brooklyn auction was held this Tuesday, and the surprising bid of the day was 463 86th Street, pictured above. Says a tipster: “463 86th Street starting bid was $1.6m. 4 sharks bid against each other and it went for the high price of $2,820,000. It’s 2006 all over again. I believe that the bidder was a front guy for Thor equities Joe Sitt.” A real estate blog confirms, and says it was the smallest purchase for Thor in NYC. The buyer was vague about development plans; right now it’s a modest building with a clothing store on the ground floor and an apartment on the second level. Of the 16 properties on the auction block, all but three were claimed. The minimum bid for the 13 purchased properties was $6.777 million, $7.225 million came in. 163A Halsey Street was picked up for $415,000, 244 Hawthorne Street for $475,000, and 151 Prospect Avenue for $340,000. See the full list of sales here.
True bidding war erupts at auction in Brooklyn [Malcolm Carter]
05/24/2012 9:30 AM
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Auction of Several Brooklyn Properties Next Week
More information on the matter can be found here.
Kings County Public Administrator Real Estate Auctions [NYC.gov]
05/15/2012 10:00 AM
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525 Clinton Avenue: The Song That Never Ends
Are people ever going to live inside 525 Clinton Avenue? The troubled Clinton Hill high-rise sat empty for years, and then a foreclosure auction was finally scheduled last September. At that point, the lien was $25 million. Then the auction was pushed back to December. Now, according to Property Shark, it’s scheduled again, for February 23rd. The lien has risen slightly, to $25,121,971. Assemblyman Hakeem Jeffries previously focused on 525 Clinton Avenue in an effort to turn the failed luxury developments into affordable housing, but what the future holds for this building is really anybody’s guess. Thoughts on why other developments have been snapped up recently and re-positioned as rentals, while this one sits on the sidelines?
Another Foreclosure Auction Set for 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue [PropertyShark]
Foreclosure Auction Scheduled for 525 Clinton Avenue [Brownstoner]
Stop Work Order at 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue: Something Happening Here? [Brownstoner]
Will 525 Clinton Avenue Really Go Affordable? [Brownstoner]
The Ghosts of 525 Clinton [Brownstoner] GMAP
02/03/2012 10:00 AM
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Clinton Hill Church Up For Auction
The church at 254 Greene Avenue, between Classon and Grand, is up for auction along with neighboring vacant land. The lien for the whole shebang is $463,048. A previous auction at the site was scheduled for last year. There’s been a lot of action very close to this property recently, with new restaurants opening around the block and new developments planned nearby. GMAP
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11/30/2011 10:30 AM
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Clinton Hill Condo Being Auctioned
A reader wrote in with a question about a former COTD at 302 Washington Avenue: “There is a huge sign on the DeKalb side of 302 Washington, by the bus stop, saying “3 Bedroom Apt. Auction.” This building took a long time to sell initially – I wonder what this auction thing means?” Turns out the duplex unit is in fact up for a sealed-bid auction. The minimum bid is $549,000 and the deadline is December 15th. The sales history of the condo is a little murky, but the 1,800-square-foot space was asking $899,995 as of last month. The unit’s listing is still up on the Brownstoner Marketplace with a few more details. We’ll see if someone ends up getting a really good deal.
302 Washington Avenue [Fillmore]
Auction: 302 Washington Avenue [FRE]
COTD: 302 Washington Avenue, #1 [Brownstoner]
11/10/2011 11:00 AM
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Lot Near Putnam Triangle Scheduled to be Auctioned
A couple new development projects near the Putnam Triangle in Clinton Hill have started up in the past few months, and now another lot in the vicinity is up for grabs. 576-sqaure-foot lot on Fulton between Grand and Downing is scheduled to be auctioned today. The lien on the property is $13,496. However, this is the third time this lot’s been scheduled for auction in three months, so who knows if anything will happen. The other projects under way nearby include the Karl Fischer-designed build fronting Irving between Putnam and Fulton and the affordable housing development along Putnam. More details about the auction after the jump. GMAP
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11/03/2011 11:00 AM
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Cobble Hill Brownstone Heading for the Auction Block
A very narrow brownstone on Henry Street in a killer location, between Kane and Degraw, is scheduled to go up for auction next month. The lien for 451 Henry comes in at a modest $8,913, but it appears the home is broken up into four rental units that are currently occupied. Of interest: The owner also owns the Rat Squirrel House at 149 Kane Street, the long-dilapidated property that’s currently being renovated. Anyone know the state of the interior at 451 Henry? More details about the auction after the jump. GMAP
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10/28/2011 11:00 AM
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4th Avenue Pit Up for Auction
Next week the empty lot at the corner of 4th Avenue and 3rd Street is scheduled to be put up for auction. Property Shark shows a lien of $4,112,000. Development has been planned, but obviously never realized, here: Earlier this year its owners pulled a permit for a new building, and back in 2008 a Starbucks was supposedly slated for the site. Click through for more details about the upcoming auction.
Building Planned for 4th Avenue Pit [Brownstoner]
4th Ave’s New ‘Littermark’ [Brownstoner]
4th Ave Pit Undergoing Slight Improvement [Brownstoner]
StreetLevel: Starbucks Sweet on 4th Ave.? [Brownstoner] GMAP DOB
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10/20/2011 9:30 AM
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Crown Heights Beaut to be Auctioned Off
The gorgeous house at 826 Prospect Place in Crown Heights is heading to auction next month, according to the Daily News, with bids starting at $500,000. As covered by Montrose in a writeup about the property a few weeks ago, the state purchased the building in 2008 with plans to turn it into a social service facility. Those plans didn’t come to fruition, says the Daily News, because landmark rules wouldn’t allow for the installation of fire escapes. The state, which paid $1.375 million for the building, unsuccessfully tried to auction it off this summer, with bids starting at $700,000. The house is said to need a lot of work.
Striking Fixer-Upper Goes on Auction Block at $500,000 [NY Daily News]
Building of the Day: 836 Prospect Place [Brownstoner] GMAP
Photo by PropertyShark
09/29/2011 10:15 AM
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Foreclosure Auction Scheduled for 525 Clinton Avenue
Only a month ago workers were spotted at the glassy, stalled development at 525 Clinton Avenue, and we wondered whether the project—which has sat vacant for three years—might be coming back from the dead. The latest bit of intel on the building doesn’t indicate that units are going to come to market in the near future, though: PropertyShark records show that a foreclosure auction on the property is scheduled for October 6th. The lien is a whopping $25 million. Back in 2009 some politicians were keen on turning the troubled development into affordable housing.
525 Clinton Avenue [PropertyShark]
Stop Work Order at 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue: Something Happening Here? [Brownstoner]
Will 525 Clinton Avenue Really Go Affordable? [Brownstoner]
The Ghosts of 525 Clinton [Brownstoner] GMAP
525 Clinton Avenue One Step Closer To Sales [Brownstoner]
Development Watch: 525 Clinton Avenue [Brownstoner]
525 Clinton Avenue Looking Good [Brownstoner]
525 Clinton Gets Its Glass On [Brownstoner]
Tower Rising at 525 Clinton Avenue [Brownstoner]
09/08/2011 9:00 AM
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Hank’s Saloon Building Hitting the Block
A few years ago a developer had plans that came to naught to construct a new building in place of the shabby—or full of character, depending on how you look at it—property on 3rd Avenue and Atlantic that the dive bar Hank’s Saloon calls home. Now, instead, 46 3rd Avenue and a couple neighboring Boerum Hill properties are heading to auction next Thursday, according to Property Shark. Up for grabs are the two-story Hank’s building, the adjacent empty lot on 3rd Avenue and the three-story brick building at 514 Atlantic. The three properties have accumulated a massive lien of $4,155,677. Think this makes any sense as an investment buy? More details about the properties and auction after the jump.
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07/22/2011 9:30 AM
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Bid for One Hanson Penthouse with Reserve Accepted
When the last of the apartment units were auctioned off at One Hanson, there were still questions about whether or not the two units that sold with reserves would be accepted by the condo’s sponsor. The two units in question were 27A, which had a final bid of $1,325,000, and 30A, which had a bid of $1,650,000. Well, at least one of the units sold for sure: the sale of 27A just appeared in public records for $1,639,954.55. One down, one to go!
One Hanson Liquidation Really Complete? [Brownstoner]
Sold! One Hanson’s Last Units Auctioned Off [Brownstoner]
06/20/2011 12:00 PM
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Sold! One Hanson’s Last Units Auctioned Off
Yesterday there was a decent turnout to witness the One Hanson penthouse auction, in which the six remaining units in the building sold for between $1,325,000 and $2,500,000. The opening bids for the first four four-bedroom units auctioned were $1,500,000, with the winner choosing their unit after the bidding closed. Some units had reserves, but most were pulled mid-auction, and only two units sold with them in place. (Thus, the developers could theoretically reject the winning bidders for these units.) Here’s how the action played out:
-Unit 26A was the first unit snatched up, a 3,263-square-foot four bedroom last on the market for $3,450,000. It went to auction with a reserve, which was pulled after the first bid. Selling price: $2,550,000.
-Unit 31A, another four bedroom, had been priced at $2,995,000. Selling price: $1,700,000.
-30A, a four bedroom, had been last on the market for $2,945,000. Selling price: $1,650,000; and it had a reserve.
-29A is a four bedroom that was first listed for $4,775,000, then $2,895,000. The reserve on this unit was lifted during bidding. Selling price: $1,700,000.
- The last two units left were 27A and PHA. The bidding started at $1,200,000, and both had reserves. Mid-bidding, the reserve was lifted on PHA. The bidding for them hit a ceiling at $1,325,000, with the winner choosing unit 27A.
-Bidding on PHA, the two-bedroom duplex, started at $1,000,000. Selling price: $1,325,000.
05/16/2011 9:00 AM
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Kings County Auction Set For December 7th
20 Brooklyn properties will be auctioned off 2pm on December 7th at the Kings County Supreme Court. You can check out all the property details here [PDF], but we’ve still picked out a few interesting ones for you. 490 MacDonough Street, a three-story brownstone (pictured right) will have an opening bid of $295,000, 482 7th Street, a three-story Park Slope brownstone has an opening bid of $950,000, and 348 Hancock Street, in Bed Stuy, begins at $290,000 (pictured left). Two empty lots at 436-8 Albee Square are also listed with a hefty opening bid of $4,000,000. Anything look interesting?
Upcoming Real Estate Auction [NYC.gov]
12/01/2010 10:30 AM
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Public Estate Auction This Weekend
At last October’s property auction by the Public Administrator of Kings County, 280 Hicks Street failed to sell after being listed with an opening bid of $2 million. At this weekend’s auction, the opening bid for the carriage house will be $1,800,000. In all, there will be 17 properties on offer, including houses at 432 Halsey Street and 1395 Carroll Street and apartments at 160 Columbia Heights and 195 Willoughby Avenue. To see all the listings and get event details, check out this PDF flyer.
04/29/2010 9:00 AM
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Big Turnout for 437 Waverly Auction
There was a big turnout and lots of bidding yesterday at the auction for the shell of a house at 437 Waverly Avenue in Clinton Hill. The first round of bidding was done privately on paper, with the highest bid coming in at $415,000. At that point, the public bidding started at $415,000 and quickly worked its way up to a winning bid of $540,000, well above what we thought it would go for (and far above the pricing widget average of $382,448. Surprised?
Waverly Shell Coming Up for Auction [Brownstoner]
437 Waverly Avenue [Brooklyn Properties] GMAP P*Shark
11/13/2009 9:01 AM
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trolleydodger
Jun 18, 2013 | 09:35 AM