Sheldon Good auctions to be held March 13, 25

Real Estate Weekly, March 12, 2003

Sheldon Good & Company Auctions has been retained to sell at auction an eclectic collection of attractive investment properties, apartment buildings, a principal New Jersey residence and other residences in New York and New Jersey.

The auctions will be held at 7 p.m. March 13 at the Grand Hyatt Hotel in New York at 42nd Street and Lexington Avenue, with the venue for the New Jersey residence March 25, at the Hilton Short Hills, 41 JFK Parkway, Short Hills, NJ at 7 p.m.

Steven L. Good, chairman, Sheldon Good & Company International, LLC, said: "This is an opportunity for buyers with the widest number of priorities to acquire value in one venue. And the sellers are availing themselves of considerable cost efficiencies associated with Sheldon Good's multiple property auction, an event we conduct often in the New York market. If you're a buyer seeking value in a wide variety of properties in one auction venue, we have it for you."

Said Jeffrey Hubbard, managing director of Sheldon Good & Company Auctions NorthEast, LLC : "These are significant properties; for the most part they have unique characters in being widely diverse. They also have an attractiveness to discerning purchasers, who know how to identify and capitalize on real value. Sheldon Good brings real value to the sellers' needs. And this value is passed along to the buyer."

The properties are:

* Brooklyn, New York: two six-family apartment buildings with four commercial stores at 131 & 133 Wyckoff Ave. Opening bid is $450,000. with a certified or cashier's check in the amount of $45,000 required to buy. Located in the Wyckoff Heights section of Bushwick and next to the Wyckoff Heights Medical Center. The four-story walk-up apartment buildings provide excellent income. Fully occupied, all residential units are two-bedroom, one bath railroad apartments. Annual gross income last year was $156,545. On site inspections are March 6 and 11 from 10 a.m. to noon.

* Brooklyn New York: Three family home 1259 Hancock St., Brooklyn, New York. Opening bid is $100,000, with a certified or cashier's check in the amount of $10,00 required to buy. This vacant three-family home offers the owner-occupant or investor an element of opportunity an income potential in the Bushwick area of Brooklyn. Situated on a 2,000-SF site, each unit has two bedrooms and one bath. Viewing date is March 9, from 1 to 3 p.m.

* Jersey City, NJ: 53 apartments and three retail stores on single block, 25 and 35 Rock St., 163 Baldwin Ave. and 39 Newkirk St. Opening bid is $1.75 million with a certified or cashier's check I the amount of $175,000 required to bid. 35 Rock St. (is a 29-unit, four-story walk-up with three retail stores. It also has 10, two-bedroom/one bath apartments; and 19 one-bedroom apartments. 163 Baldwin and 39 Newkirk Street are two four-story walk-up buildings, connected at the corner of Baldwin and Newkirk. They have 17 units, plus super's apartment (nine units per building), comprised of 10 two-bedroom/one bath apartments, six studios and two three-bedroom/one bath apartments. Gross annual income for all four buildings was $501,765 last year; net operating income was $324,905. On site inspections are scheduled for March 5 and 11 from 10 a.m. to noon.

* Bronx, NY, 23-room SRO, 2270 and 2274 Loring Place. The property will be sold without reserve, subject to a minimum bid of $550,00. A certified or cashier" check in the amount of $55,000 is required to bid. Annual gross income was $170,000 last year. On site inspection is scheduled for March 10 from 2 to 4 p.m.

* Bronx, New York, 808-818 Cauldwell Avenue and 811-813 Trinity Avenue. Office/warehouse facility/conversion potential. Opening bid is $300,000, with a certified or cashier's check in the amount of $30,000 required to bid. 808-818 Cauldwell Avenue is a single story structure 102' x 54.9'. 811-813 Trinity Avenue is a single story 50' x 148' concrete brick and stone building. Inspection date is March 10 between 10 a.m. and noon.

* Staten Island, New York, Single-family home, 36 Post Lane. Opening bid is $100,000. A certified or cashier's check in the amount of $12,000 is required to bid on day of auction. Located in the Mariner's Harbor section of Staten Island, this residence offers three levels, With two bedrooms and 1.5 baths. Viewing date is March 9 between 1 to 3 p.m.

* March 25, Short Hills, N.J. Magnificent manor house at 44 Fairfield Drive. Opening bid is $1 million, with a certified or cashier's check in the amount of $100,000 required to buy on day of auction. The auction will be held at 7 p.m. at the Hilton Short Hills.

For further information, please call Larry Samberg at Sheldon Good at (212) 213-9770.