Foreclosures of the Week

First up this week is 99 Hawthorne Street, a 1,936-square-foot one-family house that changed hands as recently as January of this year but is already in foreclosure with a lien of $463,509. Second pick of the week: A one-story commercial building at 83 Seigel Street in Bushwick. The 2,500-square-foot space has a lien on it of just $12,222. Snap it up! The auctions for both properties take place on Thursday at 3 p.m. at 360 Adams Street, Rooms 261 and 274 respectively.
99 Hawthorne Street [Property Shark] GMAP
83 Seigel Street [Property Shark] GMAP

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Comments

Where do you find these foreclosures?

Posted by: cameljoe at September 24, 2008 12:43 PM

on propertyshark.com; not sure, but you probably have to have a paid subscription to access them

Posted by: brownstoner at September 24, 2008 1:05 PM

the 99 hawthorne street property was on sale this summer with Aguayo- $699K-749K. The realtor said that it needed a lot of work and that a contractor had estimated it at around $30k- I think it would be more.
I never went to the open houses, so maybe some one else can say more.

Posted by: brooklynjennie at September 24, 2008 1:22 PM

They should have chopped the price of the hawthorne house to get it sold.

If id does go to foreclosure, someone will snap that up.

Posted by: bayridgegirl at September 24, 2008 1:40 PM

I saw the house on Hawthorne. 30K-50K would renovate it but not with upscale finishes. If the bank takes a little less than 460K, this would be doable for a middle income family.

Posted by: Just Wondering at September 24, 2008 1:41 PM

if you read the property shark numbers, the 99 hawthorne situation looks like classic mortgage fraud. Four mortgages in 8 years, each bigger than the last, no work done on the house, sold by a family member to another family member in February, now defaulting owing twice what it was paid for 7 years ago. Fishy as hell. I live on the block, and this is in a row of frame houses. I just hope it doesn't go for a teardown.

Posted by: Frederick Law Homestead at September 24, 2008 1:45 PM

Unfortunately, FLH, as I'm sure you've observed, this neighborhood (PLG) is rife with similar situations of mortgage fraud -- and given what else I've seen going on on Hawthorne, a tear down is probably in this poor house's future. OTOH, one benefit of a slower economy may be a decline in the proliferation of Fedders crap (and Atlantic Yards crap!).

Posted by: babs at September 24, 2008 8:25 PM

interestingly, i called the broker to make an appointment to see the property.

They said they were too busy that day and would call me back. they never did.....

PS I could be wrong, but I think the what saved me $200,000 at least.

Posted by: slick at September 25, 2008 3:36 AM

According to a comment on the Hawthorne Street blog yesterday this house was sold, to a family who intend to live in it. The sale is reported to have closed on the 24th.

Posted by: Bob Marvin at September 26, 2008 10:39 AM

« Last Week's Biggest Sales House of the Day: 169 Clinton Street »

September 24, 2008

Foreclosures of the Week

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