Printer Friendly

Medical facilities emerge as investment opportunity.

Carlton Property Auction's just kicked off Great Metro Auction II. This, the region's largest ever one day sale, features more than 300 vacant and occupied residences in Queens, Brooklyn, and Manhattan. The auction will be held on Sunday, June 6, at the Holiday Inn Crowne Plaza Hotel at JFK Airport in Queens.

Many of the residences will be offered Absolute -- regardless of price -- to the highest bidder. With suggested opening bids as low as $9,000 for a vacant Brooklyn residence, $19,000 for vacant apartments in Queens and Manhattan, and just $5,000 for occupied units, this sale represents an extraordinary opportunity for both users and investors alike.

In addition to the attractive opening bid prices, the seller is offering an 8 percent, 20-year fixed rate financing for owner-occupied apartment purchases.

"These units offer exciting opportunities not only for users, but also for investors seeking attractive buys in occupied apartments," notes Steve Birbach, president of Carlton. "The investment market, particularly in cooperative apartments, has improved as investors see an opportunity to purchase at low prices and generate a good return. Many of theses units in this portfolio actually have break-even or positive monthly cash flows, making them ideal for many investors."

The Queens portfolio features vacant and occupied units at six outstanding cooperative complexes: Georgetown Mews in Kew Garden Hills; Alley Pond in Bayside; Briarwood Gardens; 34-24 72nd Street; and Dunoly Gardens in Jackson Heights. All of these properties are located on attractively landscaped sites which are convenient to shopping and transportation. Vacant apartments have been stylishly refurbished and offer new appliances.

The Brooklyn properties offer an extremely wide range of living options, from attractive Midwood properties such as 825 Ocean Parkway and 2234 Ocean Avenue, to the popular Kensington area (570 Ocean Parkway), to 3045 Ocean Parkway in Brighton Beach, and 2020 East 41st Street, located just off Kings Highway. Manhattan is represented by 145 East 29th Street, a charming, seven-story elevator building in an ideal central Manhattan location.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:real estate auction in Brooklyn and Queens; New York, New York
Publication:Real Estate Weekly
Date:May 19, 1993
Previous Article:1370 Broadway sold in garment district.
Next Article:Agent named for 67 Broad.

Related Articles
Auction features homes in Brooklyn, Queens.
Prime NY bldgs to be auctioned.
Major tri-state real estate auction set.
Creating retail strategies where none exist.
City opens investment opportunities.
Long Island City: next frontier for residential investment.
Major investor to bankroll new Harlem developments.
Massey Knakal Realty Services: Jason Maier.
Dermot and Principal plan $300m city spending spree.
Deputy Mayor Dan Doctoroff was the keynote speaker at The Real Estate Board of New York's Annual Commercial Members' Holiday Luncheon, held at the...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters