Foreclosure of the Week: 167 Prospect Place
It’s not often (or at least it hasn’t been often—maybe it will be in the future) that you see a house on such a prime block coming up for foreclosure auction. There are no clues as to the condition of the interior of 167 Prospect Place, but from the outside it looks like a classic…
It’s not often (or at least it hasn’t been often—maybe it will be in the future) that you see a house on such a prime block coming up for foreclosure auction. There are no clues as to the condition of the interior of 167 Prospect Place, but from the outside it looks like a classic four-story brownstone. The long-time owner sold the place in 2006, and then that buyer flipped it again in February 2007; by July of this year, the foreclosure walls had started to close in. Lien size: $1,114,555. And don’t forget it’s got an extra-deep lot.
167 Prospect Place [Property Shark] GMAP
Instead of plummeting into a severe recession, the US economy appears to be easing into the downturn with a certain grace, shrinking “only†by 0.3% q/q annualized in Q3. However, the better than expected headline hid a few
truly ugly details, as personal spending contracted at the fastest pace in 28 years. Going forward, the intensification of financial troubles in September paints a grim picture for Q4. Sectors which contracted over the summer months (consumption, residential investment and business investment in machinery and equipment) should remain in the red in Q4. In addition, sectors which have helped keep the economy afloat (business investment in
structures, exports) will likely suffer at the hands of tighter credit standards and global recessionary woes. In addition, given gloomy prospects for holiday sales, the likely unintended inventory accumulation recorded in Q3
suggests production is likely to plunge towards the end of the year.
Actually I Disagree – I’m not crazy about the schools in this location so will pass on this one. Besides, the price cuts have barely begun.
When properties go to auction, are they usually sold for over the lien price?
Does anyone know where and when this is up for auction? Also – where can I find records regarding the foreclosure?
Also a soon to landmarked block!
maybe. or maybe you will hear about it next week when miss muffett comes to brag about it….
Why do I just know I am going to be reading the times real estate section this time next year about a smart, happy couple who held out during the bubble and bought this place for a song…………………………
yeah, definitely something funky going on with this place. even if not, it seems impossible to me that this place will go for just $1.1m. if it does, that buyer gets a steal.
It’s “an asshat”.