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Online bidding opportunity in SoHo.


PropertyAuction.com, the only online exclusively commercial real estate auction company, is auctioning $20 million worth of property on its web site at "www.propertyauction.com."

PropertyAuction.com is currently accepting bids for a number of prime properties, mostly in Manhattan. 104-106 Charlton Street is located between Hudson and Greenwich Street in the Tribeca/West SoHo, area, one of the fastest growing areas of Manhattan. This seven-story, 42,000 square-foot building will be delivered vacant. The ground floor consists of retail space and one loading dock. The second floor consists of finished office space, while the remaining unfinished floors are currently being used to warehouse goods. The building is fully sprinkled with floorloads of 345 pounds per square foot and a 5,000-pound capacity freight elevator elevator, in machinery
elevator, in machinery, device for transporting people or goods from one level to another. The term is applied to the enclosed structures as well as the open platforms used to provide vertical transportation in buildings, large ships,
. The building is zoned M1-6 Commercial with an FAR of 10. This building is perfect for a user or developer.

The suggested opening bid is $4 million. A certified See certification.  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 $5,000 is required to bid. The deposit is refundable to all except the winning bidder, in which case it will be applied towards the purchase price.

Also being auctioned on PropertyAuction.com's web site are two interconnected elevatored loft buildings with retail space, located at 94-100 Lafayette Street, one block south of Canal Street Canal Street may refer to:
  • Canal Street (Manchester), England, UK
  • Canal Street, New Orleans, Louisiana, USA
  • Canal Street (Manhattan), New York City, New York, USA
 in Manhattan. These. 62,000 square-foot buildings will be delivered mostly vacant, with several manufacturing tenants remaining. The leases of the remaining tenants expire in 2001 and early 2002. These turn-of-the-century buildings present an ideal conversion opportunity. The suggested opening minimum bid is $8 million.

Other properties currently on the web site are 45 South Broadway, a six-story, 70,000 square-foot office building in Westchester County, and a 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.
 condo and co-op package. The Westchester County property is located in Getty Square Getty Square is a square in the downtown area of Yonkers, New York, United States of America. It is located by the historic Yonkers City Hall, Saint John, the Episcopal Church, and large variety of shops and landmarks. It is considered the center of downtown Yonkers. , in the heart of downtown Yonkers. The building boasts windows on all four sides and views of the Hudson River Hudson River

River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629.
 from the upper floors. The building is undergoing full renovations, including cosmetic cosmetic /cos·met·ic/ (koz-met´ik)
1. pertaining to cosmesis.

2. a beautifying substance or preparation.


cos·met·ic
n.
 upgrading of the lobby and hallways and upgrading of all mechanical systems. The building is currently being delivered 70 percent vacant and is ideal for a user or investor. The opening minimum bid is $2.5 million.

The New York City condo and co-op package includes seven condominiums and one cooperative apartment located mostly on park blocks on the Upper West and Upper East sides. The suggested opening bid for this investor package is $1 million.

If you are interested in a virtual tour and detailed descriptions of the properties, visit PropertyAuction.com's web site at "www. propertyauction.com."

Real estate professionals and Internet developers formed PropertyAuction.com. The revolutionary capabilities of the Internet and the auction format are changing the face of the real estate industry.
COPYRIGHT 1999 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Nov 24, 1999
Words:460
Previous Article:Only one building left at Alfred Sanzari Enterprises' Norwood, NJ industrial park.
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