Sale at 120 Riverside Boulevard #8M

With more than a dozen one bedrooms for sale in the same building, doesn't look like they will get the quick sale that they might need. And if they can't pay the $1100 monthlies, I doubt that they could afford to take a loss. My guess is that when this one hits the market again it will be on the courthouse steps.

That's interesting. Most of the 1BRs of similar size appear to be listed at prices above the owners' basis in this one. You'd think they should have just left the place on the market and cut the price to nearer their basis (and lower than the others) in an attempt to get the unit sold. Maybe they have no resources left, have decided not to care about their credit, and just want to take advantage of free "rent" for a while before they're foreclosed upon. Still, it seems weird to me (from the limited info we have here) that they haven't tried a little harder to extricate themselves.

Out of curiosity, how do you know this?

NWT,

Since Condo Associations RARELY actually start actions, the Lien of Common Charges is, in general, MUCH less indicative of any real pending than one might think. In addition, since in a condo the Common Charges fall behind a first mortgage in the priority of liens, foreclosing on a lien of common charges where the unit is under water with it's first mortgage, there will be no proceeds from the foreclosure sale to pay off that lien.

I don't have the energy to go into it here, but there are other reasons why I've suggested to many condo's over the years they do it anyway, but they never listen.

David Goldsmith
DG Neary Realty

Right, there're tons of liens, and going by the numbers most seem to be just people getting behind. I figured they'd just sell, rather than go through the whole rigamarole.

Remember me complaining how tough it was to find them on ACRIS? I must've been dense, because now I see how to find them. It's search by Document Type and Lien of Common Charges. The ones with lots of pages have other interesting stuff, like months of CC statements at http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2010012501201001

NWT, how did you figure this out. I still cannot understand this. How do the other 1 BRs fare in this building.

Thanks in advance