Condo and storage space in the post-modern Worldwide Plaza building scheduled for auction September 18, 2019 with a lien of $553,000. The auction is scheduled for 2:00 PM at 60 Center Street, New York City.
Unit 5X and a storage space, both located at 350 West 50th Street in the Worldwide Plaza Building, were purchased in 2004 for $880,741. A mortgage for $553,000 was taken out from American Home Mortgage. The mortgage was eventually assigned to Bank of NY Mellon – as trustee for the CWALT, Inc alternative loan trust – the plaintiff in the foreclosure.
A lis pendens was first filed against the property in 2006 for $539,928 by Bank of New York and has been renewed three times. The foreclosure judgement was handed down January 1, 2019 for a lien of $561,291. The auction is scheduled for September 18, 2019. It was previously scheduled for auction in 2014 and 2015.
A Comps search shows the estimated median value of this condo $1,921,833, by looking at the sale prie of 37 similar properties that recently traded hands in the area. The unit is located within the Worldwide Plaza Building and enjoys access to a host of amenities including an on-site parking garage, private interior courtyard with garden, upgraded gym, as well as 24-hour doorman and concierge service. There are two laundry centers on each floor.
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.