According to PropertyShark.com records, only 55 properties were bought at auction in 2009 by investors or independent buyers in Brooklyn. That is 16.8% of the 326 properties successfully auctioned properties* at the Brooklyn courthouse.

By comparison in 2008, 96 properties (19.7% of total) were bought by independent buyers, while in 2007 independent buyers bought 114 properties (28.7% of all successfully auctioned properties).

Below we have selected three interesting properties bought by investors in 2009:

17-Old-Fulton-Street 17 Old Fulton Street

This “House of the Day” on Brownstoner back in December 2008 was listed for sale at $2,950,000. It hit the auction on 8/4/2009 and was sold for $1,500,000.
388-Crescent-Street 388 Crescent Street

Featuring 15 residential units and 3 commercial units, 388 Crescent Street was scheduled for auction for the first time in June 2007 with a lien of $828,407. The auction was postponed 3 times until the property finally sold at auction in January 2009 for $1,000,000.
491-Rutland-Road 491 Rutland Road

491 Rutland Road is the least expensive property to be sold at auction to an independent buyer in 2009. The gated garage was bought by Grand Equities Corporation for $28,000.

*Note: We have defined ‘successfully auctioned properties’ as all properties that were bought at auction by independent buyers or were repossessed by the banks. PropertyShark.com tracks auction results for all types of properties in Brooklyn expect coops.

View currently scheduled foreclosures in Brooklyn, NY.

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