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Battery Park Condo Heads to Auction for Less than $550,000

695-square foot condo in Battery Park goes to auction November 28, 2018 with a lien of $545,728. The auction will take place at 2:00 PM at 60 Centre Street, New York City.

300 Albany Street Unit 9M was purchased in 2006 for $455,000 with a mortgage taken for $409,000. That mortgage was secured through MERS.

A lis pendens was first filed against the property in 2010 by HSBC Mortgage Corporation for $409,000 and was renewed in 2015, but expired in 2018. An additional lis pendens was filed in 2010 by the Criminal Court of the City of New York for $120 and remains valid through 2030. The foreclosure judgement was issued on September 19, 2018 for $545,728. The condo is set to go to auction on November 28th, a postponement from September 19, 2018.

A Comps search shows the estimated market value at $811,065. This number was determined by considering the value of 21 recently sold units from the same building class and with a similae size between 650 and 750 square feet. The closest unit with nearly identical characteristics is the recently sold 350 Albany #3J, whic traded hands for $825,000. The also similar 377 Rector Place #2A, sold for $750,000 recently.

Located in the Hudson View West building, the 695-square-foot condo enjoys access to communal amenities like the fitness center, bicycle parking, courtyard with grilling stations, and updated laundry centers on every floor. Residents also enjoy full-time concierge and doorman services, while the Battery Park location affords close proximity to the Hudson River waterfront.

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.

Eliza Theiss

Eliza Theiss

Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. Eliza also writes for CommercialEdge. Reach her at [email protected]