7-Story Property in Midtown together with 5 Units in a Harlem Condo Conversion Re-scheduled for Auction

A 7-story property in Midtown on West 26th Street which seems to share a lien with five units in a Harlem condo conversion with an address at 206 East 124th Street have been re-scheduled for auction on April 13th. The lien amount is $5,137,598.

206 East 124th Street, New York

The auction notes do not clearly state which units in the building are scheduled for auction. However, a summons and complaint notice filed with the New York Supreme Court, having the same index number as the mentioned foreclosure case, specifically lists the properties located at block 1788 and lots 1011 (aka Unit A), 1012 (aka Unit B), 1013 (aka Unit C), 1014 (aka Unit D), and 1112 (aka unit 4B). The auction note also states that the parcels “shall be struck off to the highest bidder who will offer the highest price for sale as individual parcels or in bulk at public auction.”

The 5 units are the only ones in the building that have not sold so far. According to our records, the developer successfully managed to sell 11 apartments in the building at an average sale price of $391,272.

The website, set up to advertise the condo conversion, lists the remaining units with an asking price ranging from $260,000 up to $406,000.

Madison Realty Capital is the plaintiff in this foreclosure case.