280 Hicks, Many Others, Fail to Sell at Auction
As expected, the $2 million asking price of 280 Hicks proved to be too high yesterday, as the historic but dilapidated Brooklyn Heights carriage house failed to sell at public auction. As far as the other seventeen properties that were up for auction are concerned, only nine ended up selling. The Public Adminstrator said that…
As expected, the $2 million asking price of 280 Hicks proved to be too high yesterday, as the historic but dilapidated Brooklyn Heights carriage house failed to sell at public auction. As far as the other seventeen properties that were up for auction are concerned, only nine ended up selling. The Public Adminstrator said that the properties that didn’t sell would be auctioned again in six months and the ones that again failed to sell would be opened up to brokers. Complete auction results on the jump.
280 Hicks Up For Auction [Brownstoner]
1. 105 East 53rd street – opening bid 400K – no bidders
2. 418 Macon St – OB 500K – sold at 540K
3. 544 Snediker Ave – OB 315K – no bidders
4. 541 Snediker – OB 290K – no bidders
5. 280 Hicks ST – OB 2M – no bidders
6. 25 Oliver St #2B – OB 180K – no bidders
7. 300 Parkville Ave – withdrawn
8. 1655 Flatbush Ave apt B508 – OB 110K – sold at 110K
9. 1488 Union St – OB 420K – sold at 540K
10. 455 Van Buren St – OB 340K – no bidders
11. 100 Remsen St apt 8E – OB 150K – sold at 150K
12. 130 Hicks St #6C – OB 160K – sold at 160K
13. 373 Grand Ave apt #2 – OB 50K – sold 155K
14. 72 Newport St – OB 320K – sold at 365K
15. 1427 35th St – withdrawn
16. 9 East 92nd St – OB 210K – sold at 210K
17. 2702 Ave Z – OB 615K – sold at 720K
373 Grand sold for 160k. The second highest bidder actually was the winning bid in an earlier public administrator auction for the same property. He was rejected by the Coop Board.
418 Macon was a nice property. I was pulling for the neighborhood resident to win the bid. He backed off at 535K. Unfortunately, one of the Out of Neighborhood Investors (looked like a Quality Homes or Better Homes type person) won the bid. What a shame.
The owner of the house Dave Walker was murdered in the house last year. That is why is looked like a renovation job stopped mid stream. He was a local entreprenuer who owned a couple of properties and retired as a correction officer. The killer was eventually caught.
I was at the auction and 373 Grand sold for 160K…unless something happenend to the first bidder that you have inside info on.
agreed with Minard though
I mean why start the auction at 2million , who decides that? the bank, the previous owner, city agency?
That stretch of Hicks is not a high-traffic alternative to the BQE. Hicks in only like that on the other side of Atlantic.
I saw the carriage house last weekend – not surprised it didn’t sell. I didn’t see the mechanicals, but the interior is a disaster. Most of the ground floor is still a commercial garage / workspace, and the rest is piled high with junk. The upstairs is not much better – and equally piled with junk; not to mention lots of water damage on the ceiling. It looks like no one has actually lived there for a long time. That being said, you could still imagine what it could be. According to propertyshark, the building footprint is 25×75 – so certainly not “small.” Hicks St, though, is quite a busy thoroughfare – a high-traffic BQE alternative for people heading to the Brooklyn Bridge. It’s in desperate need of speed bumps.
I am shocked at the price of 373 Grand Ave., especially given the income limitations.
You’re right chicken, I did pose a question about the property on OT but then I couldn’t find if anyone replied, it was a busy day that day… Gonna go look again to see what I missed.
I was thinking that the incredible charm of the BH carraige house (and, of course, it’s location) might open some wallets. But I was wrong.
That IS a lot of money for what looks to be a rather small house!
It seems crazy to me that the public administer will wait 6 months until the next auction. I assume this is the normal course?
Maybe in 6 months, the opening bid will be lower.
1.6M perhaps?
Who determines the opening bid, and what criteria do they use?
Agree on the Macon. I think we discussed it on the OT.