Sale at 45 West 67th Street #14-J

In Armenia, that name might be comparable to John Smith here.

Aw, I liked the irony. He does appear to be the only one in New York, though.

A smaller shop has this listing.

I asked this question before, but never really got an answer. Are the smaller shops more likely to get the foreclosure and short sale listings?

Prime enough for you alpo? Flmao.

'teaches finance' hahahhahahahhaaaaaaaa

Skinnynewest. If you were Tiffany, would you deal in 'estate/distressed' diamonds. Funny thing about diamond business, they took a commodity business and marketed properly. No diamond is 'new.' but Tiffany would have you believe it was just mined from a unicorn azz.

skinny, i just tried to send you an e-mail. fail. care to share again?

is it case sensitive?

did the coop actually complete the foreclosure (acquire the unit) or just initiate the proceeding. Big difference. The owner's bank would have to be irrational not to foreclose first rather than let a 38K claim take a 700K mortgage.

The condo's auction isn't until early June.

There's no current mortgage, IIRC. The mortgage was foreclosed upon in 2003, and the unit was bought from the bank by some REO outfit. The REO outfit then sold it back the same day to this guy. I don't know why it went that way, rather than just make good on the mortgage. So now the liens are for NYC RE taxes, the CCs, and presumably the IRS.

AR: I didn't get it. It is my username here at gmail.

I see this pre-foreclosure dance all the time for these small liens. They never close at these level because it is in the economic interest of the owner or the bank to sell the apartment in the open market. An owner would have to be negligent to loose their apartment because they were forgetful on a cc/maintenance/tax issue. It may happen, but not often because the money involved is big.

More interesting is someone who gets foreclosed because they can't pay their mortgage and the equity is underwater. I'm looking for those and don't see too many yet in prime manhattan, but I see them where I am investing.

Skinny, had the wrong at. Thanks.

w67 -- so doesn't that become a problematic signal for smaller firms: they are more likely to take distressed properties? That is, if you are looking at a listing from a smaller firm, can you assume that it is more likely to be distressed?

Skinny it depends on the property. The madoff property was brokered by boardman, a heavy hitter. many new developments are going to low-rent brokers, I don't know if it implies difficulties or if they are just squeezing money out of rocks.

For REO, and short sales, from what I've seen at the lower to
medium end you do generally see brokers of little repute (not saying they're bad but certainly not well or sometimes even somewhat known by the masses). same with sponsor sales.