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Central Park South Auction Rings Up $825,000

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Broker-blogger Malcolm Carter reports that the on-the-block condop 8C in 110 Central Park South sold with something of a whimper at auction last night. James Smiros, an architect from Long Island, picked up the 1,026-square-foot 1BR, 1.5BA for $825,000, or about $804 per square foot. A steal? Not exactly, considering the apartment's price history: the minimum bid was $500,000, and the apartment originally hit the market for $1.5 million in February 2007 and went into contract after being cut to $995,000 this February. There were only six or eight "dispirited" bidders for the apartment (following an auction at which five Bronx apartments sold for under $75,000 each). Smiros, whose plan is to use the apartment as a pied-a-terre, has a month and a half to complete the all-cash buy.

· Architect wins condop at 110 Central Park South []
· 1,000+ Square Foot One Bedroom on Central Park South [Maltz & Co.]