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On page A24 of today's paper there's an ad for the auction of the shares for #8D here.
The owner hadn't paid maintenance since 2010, so the co-op got a judgement of eviction and to cancel the lease: http://decisions.courts.state.ny.us/fcas/fcas_docs/2012JUL/3001019912012001SCIV.pdf
Nothing odd so far.
What's weird is, the owner died in 1983. Why would her daughter, the executrix, who lives elsewhere, keep the apartment for 27 years and pay maintenance on it, instead of selling it, then suddenly stop?
The estate will end up paying 9% interest on the unpaid maintenance and legal fees until the place sells. No big deal for a $3M+ apartment, but there has to be a story behind all this.
I think the daughter might be this landlord: http://www.nytimes.com/2008/12/06/nyregion/06about.html
She owes the city $1.3M in back taxes and emergency repairs for that building.
Yes, it's the same woman. Her mother deeded her the 472 Ft. Washington Ave. building in 1973.
I wonder what the family illness referenced in the 2008 times article is/was; it is not unheard of for people to ignore the outside world entirely when a loved one, particularly a child, is in dire straits.
Hmm, if I have time, I'll head down to the auction. Always fun. I'm not a fan of the 2-maid's C7 but the D-line offers a way to reconfigure DR as 3rd BR, and having maid's act as a DR (with some reconfig of pantry + K).
I say no more than 2.5m.
Her husband died in 2007. Maybe it was the lead-up to that.
There're a couple of kids, so maybe one of them had been living at 1016.
Aside from some litigation in Dallas, where she also lives, nothing interesting turns up.
given your facility with the internet, nwt, i am surprised to see you refer to the physical newspaper; as though you still read it that way.
any shot you could post a link to auction info?--not sure i can find a hard copy of the times.
glad you read the times, which i deduced via the fact that the WSJ only had 22 pp today!
you know what? you likely read both!
No, just the printed NYT. Online is just for the archives.
There's an auction ad at http://classifieds.nydailynews.com/default/noticesannouncements/notice-of-sale-of-cooperative-/C0A8017B1900c1AE1Bynh3528E9F
I've been looking for any sign that she hasn't paid her maintenance at 4 E 72nd (which'd be a much better apartment,) but nothing.
If this comes to mind when the surrogates court is open again, I'll go take a look at her mother's will.
nyc10023, I wish you'd go to the auction. Maybe somebody in the lawyer's office will be indiscreet and drop some clues.
I was thinking of dropping a note to the lawyer in Dallas -- "Hey, remember the client you had to sue for fees? Look what she's up to now."
Given the resources of the family, I think they'll settle this by auction date. If it really goes to auction, the crowd at the auction will be very interesting (as they are, anything something "prime" comes up).
and yes, ive gotten excited about situations like these before, and never has one actually gone to auction.
i used to scan the post and news for the ads, pre-internet. found one once which i steered a colleague to, and his wife went to the auction and bought the place. Park Ave and 79th st. The auction seeme3d to be a pre-arranged fire sale from one party to another, at the expense of the bank. they were very annoyed when my friend's wife showed up with a stack of cashiers' checks to cover the 10%, based on her ultimate bid. they cleaned the place up, lived there for 3 or 4 years and flipped for a huge profit.
not gonna happen
Love to hear more back story.
yike, how much was your friend's huge profit? did you get a share?
no--cheesebag said he'd take me to dinner--never delivered
yike, how much did the cheesebag made?
Now there useing your brain over at Curbed.
Hope you don't mind other kids cheating off your paper.
Come on Curbed...kick a little gray matter into the game.
NWT should get a research credit from Curbed.