Headed to Auction: A 1930s Brick-Style Brooklyn Home in Dyker Heights

1,170-square-foot single-family home in Dyker Heights goes to auction on November 15, 2018 with a lien of $827,412. The auction will take place at 2:30 PM at 360 Adams Street, Brooklyn, New York.

This single-family home in Brooklyn’s Dyker Heights, located at 7601 10th Avenue, was purchased in 1997. The owner took out a $380,000 mortgage in 2007 from Castle Point Mortgage Inc.

A lis pendens was filed against the property by The Bank of New York Mellon in 2008 in the amount of $380,000. It was renewed in 2011, 2013, and 2016 and is now proceeding to foreclosure. The judgement was handed down October 15, 2018 for $827,412. The home is set for auction on November 15, 2018. This is a postponement from February 5, 2018.

The home is a two-story old-style brick home with a full basement and garage. A Comps search resulted in an estimated market value of $960,000. This was determined by considering the median price of seven other units that have recently sold in the area, with the same building class, and with similar square footage. The closest examples are 1020 Bay Ridge Parkway, which sold for $875,000, and 1024 Bay Ridge Parkway, which sold for $905,000.

Disclaimer: As with any auction, we recommend performing thorough due diligence and running your own comps to find out how much the property is worth. Information provided in this article is not and should not be regarded as investment advice.

Patrick McGregor

Patrick McGregor

Patrick McGregor is a senior writer covering the real estate industry and overall economic trends in the United States for several Yardi product publications. He also holds an MBA from Thunderbird School of Global Management. Patrick was previously a commercial real estate analyst at Yardi Matrix for five years. His work has appeared in the New York Times, Bisnow, GlobeSt, The Real Deal, Business Insider, The Denver Post, The Motley Fool, and more.