NYC Notice of Intended Sale of Tax Liens (NY Post listing)

New York City Finance Commissioner David M. Frankel and Environmental Protection Commissioner Cas Holloway announced today that the Department of Finance will send notices to 24,963 owners at risk of having a lien sold on their property to a private collector. A list of all at-risk properties was published in today’s New York Post as well as community newspapers throughout the City.

It is posted online at nyc.gov/liensale.

and so it begins.......

Some addresses have multiple deadbeats:
444 East 57th Street
224 East 60th Street
200 East 69th Street
157 East 74th Street
188 East 78th Street (RE taxes on cellar storage being ignored)
460 East 79th Street
245 East 93rd Street

Some surprises:
4 East 94th Street
205 East 78th Street (a coop)
591 Park Avenue

Use this address with the block and lot. http://nycserv.nyc.gov/NYCServWeb/NYCSERVMain

One individual was responsible for the multiple listings at 444 East 57th - a hedge fund manager who went down in flames.

Damn. Someone is gonna make it mint buying these and renting it out for a few years. In RE you only make money of you can hold on during credit bumps. Just hold on.

Go team RE

Gotta have horizons over 5 years. Look at RE. Imagine if you sold at the depths of the depression. Flipping is not investing. Holding on and using the equity to buy more and the ability to hang on thru credit cycles => investing.

Call your congressman/senators. RE is the only game open to us little people. RE cap gains tax shield should be adjusted for inflation. Come on. SS is indexed.

Damn apple is up $25 since I sold at a loss. Fking equity mkts are rigged.

RE. Come on. RE. Like when w67 squats 585lbs. Just a gut wrenching 'buy RE!!!!!!' Huh.

w67th - Doesn't look like the guy is looking to sell the 13 units he still owns in the building; he used to own 14, but one was foreclosed on in 2011. Either way, I feel for the other owners. There are only 60 units in the building; to have such a large percentage owned by a deadbeat must be awful. I am doing some research on another deadbeat hedgefund manager, and I just might dig a little more on this one out of sheer curiosity.

Name names

Paul Schack is the owner of multiple units at 444 East 57th. I don't know anything about his personal finances or whether tax liens and common charge liens have been settled. For that matter, I also don't know whether the liens were proper to begin with; taxing authorities have been known to file erroneous liens. It would be odd, however, for both taxing authority and condo board to be wrong in alleging nonpayment.

Discussion of 444 East 57th situation that has hopefully been resolved 7 years later.

Looking at the list for the upcoming Tax Lien sale there is nothing at 444 East 57th St.

Also looks like litigation was settled in 2017, and 2011 foreclosure order was vacated with title on the foreclosed unit reverting back to prior owner. DOCUMENT ID: 2017121900491001