A beautiful Amzi Hill house built in 1886 but in estate condition at 136 Macdonough Street sold for $1,650,000 at a Kings County public auction yesterday. It was an eye-popping price for a house of its type at auction — so much so that the buyer “got 60 seconds of applause,” according to a developer who attended. Another, smaller house with less elaborate detail at 716 Monroe went for $505,000 at the same event.
“A developer looking guy bought it and I hope he does not ruin this super-intact home,” another tipster said, referring to the house at 136 Macdonough Street, which is 20 feet wide and four stories.
The developer told us he was somewhat skeptical of the recent steep increases in sale prices but said offers for “finished product” and rents “are still booming,” so they seem to be justified.
One of our contacts sent us his photos of 136 Macdonough Street. Click through to the jump to see more. What do you make of the sale?
It’s rare that a brownstone comes up for auction, but the four-story Neo Grec-Italianate house at 29 Schermerhorn Street is scheduled for December 11. From what we can piece together from online documents, the history of the house is complicated, but it appears the current owner bought it in 1978, and it is being sold at the request of her guardian.
The official listing doesn’t give much info on the property, but a listing over at Weichert says it is divided into nine units, eight of which are studios and one of which is a garden level floor through apartment. “Deferred maintenance needed throughout,” it continues, and says “sold as is no interior viewing.” A tipster who spoke to the broker tells us it will be delivered vacant.
A once-elaborate brownstone at 272 Jefferson Avenue will be auctioned off by New York State Aug. 21. It’s not a foreclosure auction; rather, the property has been owned by New York State since 1971, and now they’re getting rid of it. At one point, it was operated as an alternative school by the state, but has been empty for a few years, a tipster told us. The garden floor “is pretty much an industrial kitchen,” but the parlor floor and staircase are intact and in “beautiful condition,” she said. We’re not sure who designed this house, but it is across the street from the George P. Chappell corner house at 271 Jefferson Avenue. They’re not giving it away; the minimum bid is $770,000.
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.
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.
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…)
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]
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 newrestaurants opening around the block and newdevelopments planned nearby. GMAP (more…)
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]
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 (more…)