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2-Bedroom, 2.5-Bath Turtle Bay Condo Heads to Auction with $1.8 Million Lien

1,590-square-foot United Nations Plaza condo in 49-story high-rise  scheduled for auction on October 23, 2019, with a lien of $1,811,253. The auction is set to take place at 2 p.m. at 60 Centre Street in New York City. 

Unit 42B in 100 United Nations Plaza was purchased in 2007 for $1.975 million. A mortgage was taken out on the same day for $1,481,250 from Washington Mutual Bank. The mortgage has been subsequently assigned to the current plaintiff, U.S. Bank National Association via JPMorgan Chase Bank, National Association. There are two additional mortgages against the property that are not part of this foreclosure. Likewise, there have been numerous Liens of Common Charges registered against the owner by the Board of Managers of the building, but none of those liens have gone into foreclosure.

A lis pendens was first filed against the property by U.S. Bank National Association in 2013 for $1,481,250. It was refiled twice, the most recent of which remains active until February 15, 2021, thus leading to the foreclosure. The judgment was handed down in August 2019 for $1,811,253 . This is the first auction for the property.

A Comps search shows that the estimated market value of the property is more than $2.3 million. This is based on 10 recent sales within .25 miles of #42B. All properties included in the Comps search were of similar size and property class. The property also has a long list of amenities, including 24-hour doorman service, 24-hour attended garage, a fitness center, business meeting room and large courtyard plaza.

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 also writes for CommercialEdge. Reach her at [email protected]