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A New Kind of March Madness: Co-op and Condo Auctions!

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A new possible cure for spring fever: auctions. On March 11, a week before a 1BR, 1BA condo at 1600 Broadway is set to hit the block, broker-blogger Malcolm Carter reports that the Office of the Manhattan Public Administrator will auction off another five co-ops and condos, with minimum bids ranging from $270,000 to $760,000. There are no reserve prices, but winning bidders must pay all cash and, for some units, run the co-op board gauntlet. Before you mark the date down in whatever newfangled devices the kids are using these days, take a look at what's on offer.
Here's what's on the block:

1) 116 Pinehurst Avenue, #F53: a 1,094-square-foot 2BR co-op with a minimum bid of $680,000.
2) 392 Central Park West #12D: A 2BR, 2BA 1,078-square-foot condo with a minimum bid of $760,000.
3) 201 West 70th Street, #38A: A 606-square-foot co-op (above) with a minimum bid of$560,000.
4) 470 Convent Avenue, #52: A 3BR, 1,125-square-foot co-op with a minimum bid of $270,000.
5) 570 Grand Street, #H1305: A 3BR, 1.5BA, 1,350-square-foot unit with a minimum bid of $580,000.

· City to auction off four co-ops and a condo [malcolmcarter.wordpress.com]
· On the Block archive [Curbed]

392 Central Park West

392 Central Park West, New York, NY