Apartments at 1600 Broadway have a history of selling at auction fairly high above their sounds-like-a-good-deal starting bids. And #10E, which hit the block Friday, is no exception! The 668-square-foot 1BR, 1BA condo, which had a suggested opening bid of $150,000, sold for $700,000 (plus a $70,000 buyer's premium) in a vacation club bankruptcy auction, broker-blogger Malcolm Carter reports. It last sold for $690K. The buyer tells Carter he might rent out the place, which, based on current listings, could net him at least $3,950/month. A Corona view premium?
· N.J. dad wins Times Square condo at auction [malcolmcarter.wordpress.com]
· Another 1600 Broadway Apartment Goes Under the Hammer [Curbed]