Foreclosures of the Week
A couple of properties jumped out at us from this week’s slate of foreclosures in the Property Shark database: At left, the brownstone at 922 8th Avenue in Park Slope certainly looks nice from the outside; Unit #3 is up for auction though the lien amount is unavailable. At right, the three-story building at 129…
A couple of properties jumped out at us from this week’s slate of foreclosures in the Property Shark database: At left, the brownstone at 922 8th Avenue in Park Slope certainly looks nice from the outside; Unit #3 is up for auction though the lien amount is unavailable. At right, the three-story building at 129 Livingston Street in Downtown Brooklyn is on the block; the 4,700-square-foot building currently has a lien against it for $2,702,716. Do you think the bank will get its money back on this one? Update: We just realized that the Livingston Street property comes with almost 20,000 square feet of unused FAR!
922 8th Avenue [Property Shark] GMAP
129 Livingston Street [Property Shark] GMAP
lehman looks like it is imploding.
this is a disaster. how many will lose their jobs?
how many jumbo mortgages will default?
all bets are off.
the hole in the titsnic probably was not all that big
given the size of the hull but it brought the whole thing down anyway.
it is time to fasten our seatbelts.
if lehman goes, we will see a financial tsunami hit
nyc.
Wonder what the lien is on that 8th Ave coop? I almost bought a unit there in ’98 for $75k, but decided it was too small and bought a larger one down the block. 2nd floor combined front and back units sold for $840k in ’07 according to the Shark.
The thing with auctions is it’s mostly investors who buy there and they end up paying close to market anyway–you wont be getting that Livingston St building for no $2.7M!
Ah, very cool. 20k square feet is a lot of space. Thanks for the info.
FAR = Floor Area Ratio, basically how much square footage you are permitted to build according to DOB code.
Auctions happen on Thursdays at 3 pm at 360 Adams Street, Room 274.
where does this happen?
Ok, I’m a real estate newbie … FAR?
Livingston certainly worth the lien, at least, with all that FAR!