Hell’s Kitchen One-Bed, One-Bath Condo Headed for the Block

678-square-foot one-bedroom, one-bathroom, three-room condo is scheduled for auction February 23, 2019 with a lien of just over $790,000. The auction will take place at 2:00 PM at 60 Centre Street, New York City.

635 West 42nd Street Unit 7D is a 678-square-foot-condo that was purchased in December 2007 for $720,000. On the date of purchase, the buyers took out a mortgage of $576,000 from MERS. The property was transferred to new owners for $10 in December 2012.

Bank of New York Mellon has filed three lis pendens against the property, the first in 2013, each for the amount of $754,000. The most recent one was filed in 2018 and remains active until 2021, thus leading to the foreclosure of the property. A foreclosure judgment was handed down in December 2018 for a lien of $790,584. Currently scheduled for auction on February 13, 2019, this is a postponement from December 20, 2018.

A Comps search shows a median value of $1,002,762, as determined by looking at the median price of 16 nearby units. Each of the Comp units sold within half a mile, is in the same property class (R4), and has square footage between 578 and 778. The building is known as The Atelier and its amenities include a bike room, playroom, doorman, roof deck, and garage parking. Three units recently sold within the building: #17C for $950,000, #41G for $1.035 million, and #20E for $965,000.

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.

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 writes for both PropertyShark and CommercialEdge. Reach her at [email protected]