Brooklyn: Foreclosures Climb in the East and Home Price Gaps Deepen
Among headlines that crown Brooklyn as one of the most expensive real estate markets in the US and that announce record-breaking sales of luxury properties, PropertyShark’s 2016 foreclosure report revealed quite an intriguing trend: the number of new foreclosures in the borough has been steadily climbing for the past 5 years. We decided to investigate further and…
Historic Home in Manhattan’s Hamilton Heights District Heads for the Auction Block
Historic home in the Hamilton Heights District of Manhattan is scheduled for auction with a lien amount of $249,338. Auction date: October 5th, 2016. Foreclosures in Manhattan are not a common sight – only 25 homes were scheduled for the first time in Q2 2016, according to our recent report on New York City’s foreclosure market. As…
Chelsea Penthouse Is Up for Auction – Lien Amount $800K below Market Value
2,300-square-foot Chelsea penthouse in a modern condo building goes to auction on August 24, with a lien of $3.8M. The auction will take place at 2:15 PM at 60 Centre Street, Room 130, New York City. Manhattan foreclosures are a rare bird, and penthouses up for auction even more so. One such uncommon case is that…
Water Mill Home Goes to Auction with a Lien of “Just” $2.6M
A two-story, 6,600 sq ft home in northwest Water Mill is scheduled for auction on August 25th 11:15 PM, at the Southampton Town Hall, with a mortgage lien of $2.6M. Even the exclusive Hamptons community occasionally opens up a back door for new residents to enjoy its lifestyle. For the more budget-minded real estate shopper,…
Top 10 List of Million-Dollar Manhattan Homes Bought at the Auction
Before the economic collapse, it was only now and then that you heard about luxury homes being sold at a bargain as a result of the owners’ incapacity for making their payments. The situation changed radically after recession hit, with news about beautiful pieces of real estate turning into damsels-in-distress becoming more and more common across the US….
Luxury Condo in SoHo Scheduled for Auction
Manhattan is no stranger to big-ticket foreclosure auctions, with properties once valued above the $60 million mark ending up on the foreclosure block. But aside from the inevitable media spectacle they give rise to, very few of these properties are of interest to home buyers and investors as their lien amount generally exceeds their valuation….
Temporary Foreclosure Relief for NYC borrowers of FHA-insured mortgages
Federal assistance is on the way for distressed NYC homeowners having an FHA-insured mortgage on their homes. The U.S. Department of Housing and Urban Development has granted a 90-day foreclosure moratorium to NYC borrowers of FHA-insured loans as a result of the damage caused by Hurricane Sandy. This means that foreclosure activity involving thousands of…
NYC Foreclosure Auction Postponed 23 Times
Settling a foreclosure case in the NYC courts can take a surprisingly long time, sometimes even more than 6 years. A PropertyShark in-house analysis based on our foreclosure data indicates that certain NYC homes in distress have had their auction postponed more than 20 times. A postponed foreclosure auction can give homeowners more time to…
Westbury’s Mall at The Source Is Scheduled for Auction
The Mall at The Source in Westbury, NY is scheduled for auction at the end of this month with a lien amount of almost $142 million, PropertyShark data indicates. The mall defaulted on its $124 million mortgage in 2009 when several of its major tenants — Fortunoff, Circuit City, and Steve and Barry’s — closed…
New York City Lis Pendens Reach 2-Year Low In October 2011
Given the fact that the number of scheduled foreclosure auctions has decreased significantly due to the ongoing bank moratorium, we thought it might be a good idea to take a look at the lis pendens trend. Apparently the number of pre-foreclosure filings is also trending downwards, reaching a 2-year low in October 2011. There were 715…
NYC Top Foreclosed Apartments by Lien Amount in 2011
There were a total of 1,602 residential properties scheduled for auction in the first three quarters of 2011, 65% down from the same period in 2010. Among the analyzed property types, the number of apartments (co-op and condo units) comprised 52% of the foreclosures, while two-family dwellings accounted for 26% and the single-family residences for…
Bidding War for Brooklyn’s 836 Prospect Place?
Well, we’re just speculating, but Brownstoner reports that 836 Prospect Place was auctioned two days ago for $810,000. That’s a whole lot more than the minimum bid of $500,000 at which the auction was supposed to start.
NY State Is Selling at Auction a Landmark Brooklyn Townhouse
New York State Office of General Services will sell at public auction 836 Prospect Place, a landmark Crown Heights single-family home.
Development Site in Hyde Park, NY Scheduled for Auction
A 339 acre development site on Route 9 in Hyde Park, located just across from the Culinary Institute of America, is scheduled for auction October 20th.
Foreclosure Process Length Doubles in NYC; Brooklyn Sees Lowest Rate of Properties in Lis Pendens Ending Up at Auction
The length of the foreclosure process has doubled in New York City over the past three or four years, an in-house study made by our data analysts showed. The average number of months it took for a delinquent mortgage to reach the final stage of the foreclosure process, that is to be scheduled for auction,…
Foreclosure Auction Averted in Top Fifth Avenue Building
Only few days ago the reported foreclosure of a Park Avenue apartment owned by embattled developer Kent Swig made headlines all over the New York media. It was the fact that foreclosures are happening in Manhattan’s most desirable buildings that shocked many.
Sloane Mansion Bought by Billionaire at Auction
18 East 68th Street New York
18 East 68th Street New York | The Sloane Mansion
The now notorious 18 East 68th Street (aka Sloane Mansion) was bought yesterday at auction by an Ukrainian-born billionaire, reports the Wall Street Journal.
Highly Interesting Foreclosure Auctions Scheduled for Tomorrow at New York County Courthouse
The most expensive New York City residence ever that reached the final stage of the foreclosure process is scheduled for auction tomorrow. The property, located at 18 East 68th Street, is also known as the Sloane Mansion. It was named after Henry T. Sloane, a wealthy carpet manufacturer. The lien amount is $28,214,059.
44-Unit Apartment Building in Inwood, Manhattan Scheduled for Auction
A 44-unit apartment building located at 509 West 212th Street in Inwood, Manhattan is scheduled for auction on April 6th 2011. The lien amount is $5,288,753. The property seems to be owned by Milbank Real Estate, a California-based company that defaulted last year on a $35 million loan used to finance a portfolio of 10…
7-Story Property in Midtown together with 5 Units in a Harlem Condo Conversion Re-scheduled for Auction
A 7-story property in Midtown on West 26th Street which seems to share a lien with five units in a Harlem condo conversion with an address at 206 East 124th Street have been re-scheduled for auction on April 13th. The lien amount is $5,137,598. The auction notes do not clearly state which units in the…
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