1,720-square foot two-family home in Middle Village, Queens goes up for auction on December 14, 2018 with a $430,000 lien. The auction will take place at 10:00 AM at 88-11 Sutphin Boulevard, Jamaica, New York.
66-11 74th Street in Middle Village, Queens is a two-family home built around 1930. It was inherited by its current owner in May 2013. Following the inheritance, the owner took out a mortgage of $350,000 from Velocity Commercial Capital in November 2014.
A lis pendens was filed against the property in March 2016 by Velocity Commercial Capital for the amount of $350,000. It remains active until March 2019, thus leading to the foreclosure of the property. A foreclosure judgement was handed down in October 2017 for a lien of $428,918. The auction is set for December 14, 2018, a postponement from the original auction date of October 5, 2018.
A Comps search shows a $798,080 median value for the property, determined by the sale price of four other two-family homes that recently traded in the area. The closest, 68-41 76th Street, sold for $770,000, while the other, 65-53 79th Place, was bought for $850,000.
66-11 74th Street is a little over half a mile from the closest subway station at 69th Street and Metropolitan Avenue, which serves the M train, while the nearest bus stop, which serves the Q38 line, is just steps from the front door. The Q54, Q29 and Q47 lines are within half a mile, as is Juniper Valley Park.
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.