Auction catalogue tops $35m

Real Estate Weekly, May 4, 2005

By the time the catalogue closes on May 18 for the Clive Emson Land and Properties summer real estate auction being held June 29, it is expected that the combined value of the properties being offered will start bidding at more than $35 million.

Although the British auction house will be compiling listings for the catalogue through the late May deadline, several Metro area single-family homes have already been committed for auction, as have a number of larger-scale properties. Among those current submissions are:

Two contiguous apartment buildings with 160 units, located at 45 and 55 Linden Boulevard in Brooklyn; Fifteen acres in Montville, New Jersey, zoned for office/industrial/medical or hotel; A vacant school situated on a 126,000 s/f lot in Rockaway, with renderings by Scarano Architects for an adaptive re-use project comprising a 106-unit apartment building with 40,000 square feet of medical space.

"The response to our first American auction on March 22 at the New York Hilton was so enthusiastic, we began preparing for the next one almost immediately," says Mr. Emson.

"We expect the next auction will be much larger. In fact, our greatest concern right now is to locate a venue that can accommodate the growing number of attendees anticipated."