City Properties Hit the Auction Block

Thursday, May 10, 2012

New York City is set to auction off dozens of city-owned properties across the four outer boroughs Thursday morning. It's the first such sale in almost six years, and if every piece is sold, it could bring in at least $6.7 million.

The most expensive sale will likely to be a one-story building in the Classon Point section of the Bronx. The beginning bidding will start at $374,000.

Most of the other properties are empty lots in Brooklyn and Queens, many of them irregularly-shaped.

The cheapest piece of real estate is a 21 by 20 foot lot in Jamaica, Queens. Asking price: $9,000.

Also available: waterfront property in Broad Channel, a parking lot in Gravesend and a triangle of forested land in Annandale, Staten Island. A total of 32 properties will be on the auction block.

Potential buyers be warned: you must put down 20 percent of the asking price in cash or certified check at the time of sale.

The sale begins at 10 am in the Emigrant Bank Building, 49-51 Chambers St. in Manhattan.

Click here for a full catalog of properties on the auction block.


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