1,400-square-foot semi-detached rowhouse on a 2,000-square-foot lot is headed to auction on October 11, 2019 with a lien of $581,838. The auction will take place at 10:00 AM at 88-11 Sutphin Boulevard, Jamaica, New York.
50-20 63rd Street, Woodside, New York, is a 1,400-square-foot home in Maspeth, Queens. Purchased in April 2006 for $550,000 with two mortgages taken out the first day. The first was for $417,000 from America’s Wholesale Lender, which has since been reassigned several times and is now held by Wilmington Savings Fund Society, the plaintiff. The second loan was also originated in April 2006. That $77,750 mortgage was issued by National City Bank and is currently held by Citizens Bank. It is not currently in default.
A lis pendens was first filed against the property by Green Tree for $417,000 in 2015 and expired in July 2018. However, a foreclosure judgment was handed down on April 2018 for $581,838. Set to go on the block on October 11, this is the third time the property has been scheduled for auction. It was previously scheduled for the block in March 2019 and August 2018.
A Comps search puts the median market value of the property at $721,000. This was determined by the recent sale price of 121 smilar properties located in the area. Built in 1945, this two-story home has a full 700-square foot basement and is just over half a mile from the 7 train.
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.