Sale at 38 West 87th Street

Yhea that's what every Realtor wants you to believe.

Whatcha talking about, Willis? I only see a 3m mortgage on a 4.589 '07 sale.

w67th, not enough to put short sale in the description. you need "short sale."

this property's description has both words in the description, short and sale. change your saved search immediately!

W67: if I'm reading ACRIS right, there was a short sale for an UWS TH recently. 312 West 90th. Sold for 2.4m '07, 2.8mish in mtge. I think it will close soon for under mtge amount.

Also, 45 West 84th. Sold for 4.4m. Pretty sure the outstanding mtges were >5m.

Is this sale confirmed? Where is this info coming from? Any ID on the buyer?

Which sale?

corporate identity.

45W84 definitely a short sale:

1/20/2010 CERTIFICATE OF REDUCTION TOWNHOUSE 84, LLC CHECKSPRING BANK


1/20/2010 MORTGAGE TOWNHOUSE 84, LLC CHECKSPRING BANK 763,867

1/20/2010 ASSUMPTION OF MORTGAGE 45 WEST 84TH STREET, LLC CHECKSPRING BANK 6,000,000


12/24/2009 DEED 45 WEST 84TH STREET, LLC TOWNHOUSE 84, LLC 4,400,000

I was watching this for a while. I believe Checkspring is a Harlem-based small community bank - what is it doing lending 6m to NJ folks who bought this for under 4m?

It's not a 20-footer, though park block. Needs 1m of work. With transaction costs, I'm not sure it makes sense for anyone other than end-user.

http://articles.chicagotribune.com/2010-04-04/business/ct-biz-0404-checkspring--20100404_1_giannoulias-bank-demetris-giannoulias-bank-accounts

@nyc10023 - I'm curious, how did you find out 31 West 90th was a short sale? I can see the mortgages on ACRIS, but wasn't sure how you figured it was a short sale.

...meant to say "312 West 90th St"...

aptometrist....sup?

Aptometrist: I don't know for sure that it is a short sale (i.e. the seller is not bring money to the closing to make the lender whole). But if you look at the seller's outstanding mtges on other properties, I'm kinda betting that it will be a short sale when it pops up on ACRIS like 45W84.

I could be reading the mtge info incorrectly, it's been a while - I thought that it was 1.1mish mtge + 1.75m mtge, which would be greater than the sale price.

At least on West 87th Street there is no man nude around children, unlike on West 67th Street.

Thanks, nyc10023. I thought you had some other secret weapon to find out short sales, but I guess ACRIS is all we got :-) I looked into the ACRIS mortgage docs and it looks like an original loan of 1.1m was rolled up into the second 1.75m loan, along with another mortgage that was assigned to the owners. So it is probably not going to be a short sale after all.

Did this building just sell?