Bid Deadline of June 2 for Bankruptcy Auction of Eight-Unit Brownstone in Park Slope

Sponsored By 22 Fiske Place

Bankruptcy auction sale of eight-unit brownstone in Park Slope, Brooklyn

Created By BlankSlate

On June 6, MYC & Associates will auction an eight-room brownstone on a quiet, picturesque street in the heart of Park Slope at 22 Fiske Place. This nearly 5,000-square-foot building has one studio apartment, one one-bedroom duplex, and six one-bedroom apartments. It is located in the heart of Park Slope, two blocks from the retail hive of 7th Avenue and one-and-a-half blocks from Prospect Park.

With a projected rent of $218,765 per year and carrying costs estimated at $47,809, the site is expected to generate nearly $171,000 in net operating income per year, before expenses. Built in 1920, it offers 1,960 square feet and its dimensions are 20 feet by 96 feet.

The site benefits from its location in one of the most popular and well maintained neighborhoods in the city, and from local community involvement. It is near Prospect Park, a national landmark that is one of the city’s most beloved green spaces. Designed by Frederick Law Olmstead and Calvert Vaux, the park is said to be closer to the ideal the two hoped to achieve with Manhattan’s Central Park, which they also designed. Fiske Place is a short, quiet block that exists only between Garfield Place and Carroll Street.

Bidding for this Fiske Place eight-unit brownstone will take place at 2 p.m. on June 6 at the United States Bankruptcy Court, Southern District of New York, One Bowling Green in Manhattan.

What else is needed before the gavel falls? A qualified bid of no less than $3.375 million, deposit of $337,500 and proof of funds must be submitted to the seller by 4:30pm on June 2.