Classic 1960s Lincoln Square Condo Scheduled for Auction at Less Than $350,000

529-square-foot Lincoln Square condo in elevator building goes to auction at 2 p.m. on September 4, 2019, at 60 Centre Street in New York City. The lien is less than $350,000.

155 West 168th Street Unit #5-18 was originally purchased in 1985 for $80,000. A mortgage of $340,000 was taken out with American Home Mortgage in November 2006 and eventually assigned to the plaintiff in the foreclosure suit, Deutsche Bank.

A lis pendens was first filed against the property in 2010 by Deutsche Bank for $340,000. It expired several times, but was refiled in 2013, 2016 and again in 2019. The latest lis pendens was filed in April of this year and remains active through April 2022,thus leading to the foreclosure of Unit#5-18. The foreclosure judgment was handed down on May 24, 2019, with the foreclosure auction scheduled for September 4, 2019. This is the first scheduled auction for the 155 West 168th Street condo unit.

A Comps search determined the median value of the property at $837,936, established by looking at sale price of 37 similar properties, that recently traded hands in a quarter-mile radius of 155 West 168th Street Unit #5-18.

Unit #5-18 is part of 155 West 168th Street, a pet-friendly luxury condominium project also known as Dorchester Towers. The white brick condominium was originally built in the mid-60s, but has been updated in recent years to offer a wide array of luxury amenities. Among them are a rooftop garden and sundeck, a pool, health club and 24-hour attended garage. Dorchester Towers also offers 24-hour doorman and concierge services, as well as valet services and a package room.

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.

Iulian Tihai

Iulian Tihai

Iulian Tihai is a writer at PropertyShark with 5 years’ experience in the real estate industry. He reports on New York real estate news and trends. Previously, he was a commercial real estate analyst at Yardi Matrix.