Historic home in the Hamilton Heights District of Manhattan is scheduled for auction with a lien amount of $249,338. Auction date: October 5th, 2016.
Foreclosures in Manhattan are not a common sight – only 25 homes were scheduled for the first time in Q2 2016, according to our recent report on New York City’s foreclosure market. As we checked out the recent foreclosure listings on our website, one particular house in Manhattan’s Hamilton Heights Historic District caught our attention. It turns out that a beautiful piece of Manhattan history is unfortunately heading for the auction block.
The Hamilton Heights Historic district, having at its core Convent Avenue, was designated in 1974 and it consists of 192 houses, apartment buildings and several churches which were built mainly from around 1886 to 1906. The architectural styles represented are a blend of Dutch and Flemish revivals, Romanesque, French Renaissance, Queen Anne, and Gothic.
As for the house currently scheduled for auction, it is a Romanesque Revival townhouse, originally owned and designed by William W. Mowbray. Located on West 144th Street, it is part of one of the earliest rows in the district.
Offering a generous living space of 3,963 square feet, it last changed owners in 1983 for an undisclosed price. Properties in the Hamilton Heights district don’t sell that often; however, a 2,922- square-foot home right across the street sold in January 2016 for $2,100,000. Meanwhile looking at homes for sale in Hamilton Heights, a house on West 148 Street has just been listed for $2,800,000.
Following the judgment recorded on July 13th, 2016, the foreclosure auction was scheduled for October 5th, 2016 and it will take place at the New York County Courthouse, 60 Centre Street, New York, NY. The opening bid will only be announced at the auction, but the lien amount on the legal notice is $249,338 (keep in mind that it may be subject to late fees or other penalties.)
As with any auction, we always recommend performing a thorough due diligence and running your own comps to find out how much the property is worth. Since the property is located in a landmark area, it is subject to special regulations, which among other provisions, usually require that any exterior alterations or repairs to historic properties need to be approved. Update: As with many Harlem properties, this house is designated as SRO-restricted by the Department of Buildings, which means even further restrictions so a complete review of all documents and certificates is strongly necessary.