Murray Hill Four-Room Condo Hits Foreclosure Auction in Mid-October

Condo in Murray Hill high-rise goes to auction on October 16, with a lien of $732,301. The auction is set for 2 p.m. at 60 Centre Street, New York City.

Unit 30G at 415 East 37th Street is a 927-square-foot condo with four rooms and two bathrooms. It was purchased in 1989 for $309,700 with a mortgage of the same amount from Chase, which later merged with JP Morgan. The loan was reassigned several times. Today, it is held by the Bank of New York Mellon Trust Company N.A.

In addition to the foreclosed loan, there are several other notes that were consolidated into a $750,000 loan with JP Morgan, which is due in 2021. The foreclosure judgment was handed down on June 14, 2019 for $732,301. It remains in effect until October 16, 2019, thus leading to the auction. This is the first scheduled auction for the property. .

A Comps search shows the estimated value of the property to be $1.14 million. This is based on the sale prices of 30 similar properties within one-quarter mile that have sold recently. The property is located within the 43-story high-rise The Horizon Condominiums. Amenities include a fitness and health club, spa services, a business center, a kid’s study room, pool lounge, two swimming pools and screening 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.

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]