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This Tiny, Foreclosed Chelsea Studio Could Be Yours For Cheap

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Foreclosure auctions are a confusing beast, but Brick Underground has partnered with Property Shark to debunk them for the average buyer. This Wednesday, in the rotunda of the New York County Supreme Court, you can bid on a 250-square-foot studio, and here's how. The microdwelling in question—apartment #4R at 451 West 22nd Street—is located in a charming-looking red-brick five-story walk-up with eight residential units total. A comparable unit, #1R, sold for $340,000 in September. For its part, 4F last sold for $209,898 in 2006. The lien amount, or the value of the home as claimed by the lender during the mortgage foreclosure proceedings, is a mere $158,439, but the minimum bid has yet to be set. It may be small, but we've seen worse. So much worse. The auction is at 12:30 p.m. on January 29 at 60 Centre Street.
· Property Shark Foreclosure Spotlight: Chelsea Studio Hits The Auction Block This week--Here's What You Need To Know [BU]
· Old Listing: 451 West 22nd Street #4F [StreetEasy]
· Ten of the Tiniest Apartments For Sale in New York City [Curbed]
· Foreclosure Auctions coverage [Curbed]
· All Microdwellings coverage [Curbed]