The latest news is coming from Manhattan: Bid on the City is preparing to auction off five Manhattan properties with worth starting at $1 million. The auction date is May 31 and the only bidder only needs $1 to get in on the auction, the Real Deal reported. Bid on the City, the Manhattan-based company [...]
New York was shocked Gov. Andrew Cuomo veto’s of $1.5 million to pay for foreclosure prevention services. Housing advocates, who believe the program is vital to each troubled homeowner were shocked by the news. The governor’s veto will lead to the shut down of Foreclosure Prevention Services Program by the end of this year, advocates [...]
Manhattan homeowners have now a reason fear: the foreclosure crisis is reaching their doorsteps too. Foreclosure activity jumped in the tony borough during the first quarter of this year, according to data released by RealtyTrac. Manhattan foreclosure filings surpassed the 250 milestone reaching 271 filings during the first three months of 2011. This represents a [...]
The MAve Hotel is scheduled for foreclosure auction May 17 at 60 Centre Street, as a state Supreme Court judge approved a foreclosure judgment against it. The boutique property developed by Roxy Deli owner Joseph Ben Moha and Livorno Properties principal Ben Zion Suky is located in the Flatiron District faced the suit originally in [...]
The auction block will host a troubled Manhattan apartment building, owned by Milbank Real Estate, a Los Angeles-based company. The 45 unit, rent stabilized building was purchased four years ago for $4.79 million, property records show. Milbank took out a $2 million mortgage to cover the costs of the building, but defaulted on payments two [...]
After making some slow improvements in 2010, Manhattan’s apartment market started with its left the year of 2011. As buyers stood back, sales volume dropped and prices dropped during the January 1st to March 30 period, real estate reports revealed. The average price of a Manhattan apartment dropped to $1.36 million,which means a 5% decline [...]
LNR Partners filed a foreclosure lawsuit against developer Joseph Moinian, after he defaulted on a $93 million mortgage loan at the Renaissance, a 221-unit luxury rental tower. The lawsuit – filed in New York Supreme Court on Feb. 17 – claims that Moinian received notifications on his default in August 2010. Moinian, however, was in [...]
The Hotel Niagara is heading back to the auction block as it was claimed by a Texas bank at a foreclosure auction earlier this year, so it will be sold at an ‘open outcry’ auction on April 26. “It appears that the total investment of the previous ownership group for the Niagara Hotel was close [...]
