Auction to feature 17 co-op apartments

Real Estate Weekly, Jan 20, 1993

Carlton Property Auctins will offer at absolute auction -- with no reserve price and no minimum bid -- 17 cooperative apartments at 146 East 49th Street on Feb. 7, 1993.

A mix of one-and two-bedroom units, including four vacant apartments and 13 occupied investor units, will be sold individually. Suggested opening bids are $39,000 for the vacant apartments and only $5,000 for the occupied units, but they will be sold to the highest bidder regardless of price. Original asking prices were as high as $328,000 for two-bedroom apartments.

IPI Financial Services, an independent mortgage broker, is coordinating financing on all vacant units to qualified buyers. Financing representatives are available at weekend Open Houses to pre-qualify prospective purchasers. The sponsor is offering a rebate to all purchasers who buy occupied residences equal to the difference between the rent and maintenance for a 12-month period.

The prewar apartments, which were renovated prior to conversion to cooperative ownership, offer comfort, spaciousness and one of the most outstanding Midtown locations. All vacant units have been modernized and include new kitchens and bathrooms. The pre-war building contains a total of 36 units, newly refurbished lobby, new thermo-windows and boasts a 67% mainte- nance deduction.

Open House is the time to inspect the residences, and will be open daily 10:00 a.m. to 6:00 p.m., except on Thursday the hours are noon to 8:00 p.m. at 146 East 49th.

For a full-color brochure with complete details and directions, please call the Auction Information Center at (212)758-0300.