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UWS Brownstone With Holdout Tenant Headed for Auction

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It can be hard to sell a brownstone when it comes with a tenant. That's the case at 313 West 77th Street, where a current tenant says he'll move only if the building sells for at least $4.5 million. (There's already been one contract at $3.75 million, and the asking price when the place hit the market in September 2011 was $3.995 million.) We'll find out the likelihood of his leaving at the house's bankruptcy auction, which, Malcolm Carter reports is coming up on March 21. A StreetEasy poster who visited the building last year describes the needed renovation as a gut job, but given that a house down the street sold last year for $11.175 million, buyers may be enticed anyway. Good luck with that tenant, future owner.

In an interesting twist, this isn't the building's first tangle with bankruptcy. The five-story walkup, built in 1920, went co-op in 1988. But the corporation defaulted on its mortgage in 1995 and filed for bankruptcy in 2003.
· Bankruptcy auction set for a brownstone in limbo [Malcolm Carter]
· Auctions coverage [Curbed]