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giant manhattan condo forclosure

Started by jason10006
over 15 years ago
Posts: 5257
Member since: Jan 2009
Discussion about
Just FYI, the stats would show this as ONE auction. Not 223. Which is why I think things like this or stuy-town Sheffield etc WAY understate the actual level of foreclosures in Manhattan. http://www.crainsnewyork.com/article/20100930/REAL_ESTATE/100939991
Response by bob420
over 15 years ago
Posts: 581
Member since: Apr 2009

True but it can only be bought as a whole. Won't the winning bidder complete the work and then offer them individually at market rates? It's not like 223 units/people are individually being foreclosed and a buyer can pick an apartment at deep discount.

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Response by w67thstreet
over 15 years ago
Posts: 9003
Member since: Dec 2008

Wha? Wha?

Me buy cheap, me sell cheap. Me get f'k out.

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Response by PMG
over 15 years ago
Posts: 1322
Member since: Jan 2008

foreclosures were discounted to individual buyers in the 90s. I think the Manhattan REIC is afraid to try that today.

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