Midtown apartment buildings, Rye 'trophy home' to be auctioned.Sheldon Good & Company announces the auction on Wednesday, June 9th of a solar-powered assisted Rye, NY trophy home in one of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of metropolitan area's most prestigious waterfront communities in Westchester and two apartment buildings in spectacular Midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town locations in Turtle Bay Turtle Bay is the name of the following places:
The offerings are an extension of Sheldon Good & Company's successful multi-property auction series. At the most recent venue on April 14th, over $5 million in assets was sold by the company in one hour of bidding. Steven L. Good, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sheldon Good & Company Auctions, said "Whether you are the most discriminating of purchasers seeking an architect's personal waterfront dream estate in Rye, NY, or someone who wishes to establish or expand a portfolio of prime neighborhood apartment buildings, we have value for you. Sheldon Good & Company is offering these mixed-use properties in one venue." "The sellers of all these properties are u demonstrating a high degree of confidence in the auction marketing vehicle when the timing of the sale becomes critical," Good said. "The owner of two apartment buildings is availing himself of the auction because he is motivated by a tax-free exchange tax-free exchange An exchange of assets between taxpayers in which any gain or loss is not recognized in the period during which the exchange takes place. Rather, taxpayers are required to adjust the basis of assets exchanged. deadline to sell the properties." "The owner of the Rye mansion is going straight to auction; his residence has never before been placed on the market," Good added. "He's utilizing the auction in his marketing strategy because his property has very unique characteristics and he doesn't know how to price it. In all instances, despite relatively hot markets, the sellers are confident the auction will help them identify the market. The auction works for buyers, too, because it allays the bugaboo question: 'Am I paying too much?' A successful auction will always find the market." The auction will be held Wednesday, June 9th at 7 p.m. (registration begins at 6 p.m.) at the Grand Hyatt Hotel on East 42nd Street at Grand Central Terminal. The Properties In Rye, NY at 77 Dearborn Avenue, the never before on the open market, one-of-a-kind custom-designed engineer's home offers beachfront beach·front n. A strip of land facing or running along a beach. adj. Situated along or having direct access to a beach: beachfront hotels; beachfront property. Noun 1. living 30 minutes from New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . It is steps from the beach and has a suggested opening bid of $450,000. The property is being offered with reserve, and a certified or cashier's check cashier's check n. a check issued by a bank on its own account for the amount paid to the bank by the purchaser with a named payee, and stating the name of the party purchasing the check (the remitter). in the amount of $45,000 is required to bid on the day of auction. Architect David Kim Dr. David Kim (born November 7, 1969) is a physician and orthopedic surgeon who specializes in sports medicine, arthroscopy and shoulder reconstructive surgery. His office is located in Huntington Beach, California at the Huntington Beach Orthopedics and Sports Medicine practice. designed this splendid estate for his brother. Kim sought to design an energy-efficient home wherein the design, coupled with a custom designed solar heating solar heating Use of solar radiation to heat water or air in buildings. There are two types: passive and active. Passive heating relies on architectural design; the building's siting, orientation, layout, materials, and construction are utilized to maximize the heating and air-conditioning system, provided for significant savings in the costs of operating this architecturally significant residence. Built in 1978, located within 100 yards of Oakland Park Oakland Park is the name of several places in the United States:
The four-bedroom, 2.5-bath residence is comprised of 3,100 square feet of living space. It also has an office and a loft. The property's owner reports that the home offers a very special feature which will result in substantial energy cost savings over the life of the home. A solar energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. system now in place saves 30 percent of the cost associated with air-conditioning and 50 percent of the cost associated with heating the home. The home offers gracious living with a three-car attached garage with ceramic tile floor, a wine cellar with 162-bottle capacity and three rooms (great room, library and master bedroom suite) which have fireplaces. Amenities of the home included a substantial front porch for enjoying breezes from Long Island Sound; a large living room with a large brick fireplace wall and soaring cathedral ceiling cathedral ceiling n. A high, open, usually slanting or pointed ceiling. ; spacious dining room accommodating 12 guests; a master suite with a closet featuring built-in drawers and shelving; spacious kitchen with the latest in gourmet-accoutered appliances; raised rear entertainment deck; three upstairs bedrooms; office; bath and laundry. The lower level features an entertainment room designed with a multitude of conversation and entertaining spaces, featuring a sit-down bar and significant closet space. A sliding glass wall opens this space to the pool deck and pool. Viewing dates are scheduled for between 2 p.m. and 6 p.m. on June 6th, and from 6 to 8 p.m. on June 3rd. New York City Properties The New York City properties are being offered separately by a single owner, both with reserve, subject to seller's acceptance within two business days following the auction. At 248 East 49th Street, 11 apartments at this prestigious Turtle Bay location are 100 percent leased with free-market rents. Suggested opening bid is $1.6 million. A certified or cashier's check in the amount of $160,000 is required to bid on day of auction. The East 49th Street building is in a very prominent block between Second and Third avenues in the historic Turtle Bay District. This handsome property overlooks Turtle Bay Gardens. This six-story elevated building was completely gut-renovated in 1997. It is configured with 11 apartments, a basement storage room with bath, and laundry room A laundry room (also called a utility room) is a room where clothes are washed. In a modern home, a laundry room would be equipped with an automatic washing machine and clothes dryer,and often a large basin, called a laundry tub, for hand-washing delicate articles of clothing such . The complex is 100 percent leased at free-market rent, which means the building is not subject to rent-control and rent stabilization laws. This provides an excellent opportunity for continued operation as an apartment building without rent restrictions, or alternately, conversion to a cooperative, a condominium or embassy housing. The building is configured with one six-room/four-bedroom, three-bath duplex; one four-room/two-bedroom, two-bath duplex; five four-room/two-bedroom units; and four three-room/two-bedroom units. The building currently has a total gross annual income of $332,244, with net operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $283,204. Viewing date for 248 E. 49th Street are between 10 a.m. and noon on Wednesday, June 2nd. At 351 West 48th Street, a four-story plus penthouse building is comprised of 7,700 square feet of living space, configured with nine apartments and a basement with laundry room. Suggested opening bid for this property is $900,000, with a certified or cashier's check in the amount of $90,000 required to bid on the day of auction. The apartment building is 100 percent leased at free-market rent, which provides an excellent opportunity for continued operation as an apartment building without rent restrictions, or alternatively, conversion to a cooperative or condominium. Current ownership purchased the property in 1997. Viewing dates for the property at 351 West 48th Street are from between 10 a.m. and 12 noon on Wednesday, May 26th and Thursday, June 3rd. For further information call Sheldon Good & Company Auctions Northeast at (212) 213-9710. |
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