Sheldon Good to auction 'big' Trump Plaza co-op

Real Estate Weekly, August 21, 1991

Sheldon Good to auction |big' Trump Plaza co-op

A private seller has commissioned Sheldon Good & Company to offer his single, luxurious cooperative apartment at Trump Plaza, 167 East 61st street, for sale at a public auction on Thursday, September 12, it was announced.

The auction represents a "first" in the sales and marketing of residential real estate. While luxury, multiple-property auctions initiated by banks and other lending institutions have become commonplace throughout the U.S. during the last 18 months, single, private seller/public auctions of individual properties are exceedingly rare.

Steven Good, president, Sheldon Good & Company, said, "Both our firm and the seller reasoned that if the auction method of sales can work successfully for banks and developers, why not allow it to work for the individual who has a single resident for sale?"

The Trump Plaza apartment offered for sale is on the 37th floor of the 39-story, tower on the southwest corner of East 61st Street and Third Avenue. Designed by renowned architect Costas Kondylis, the building contains the famous Alo, Alo, restaurant.

The apartment to be sold has views that sweep across Manhattan Island from the northeast, through the west, to the southeast, more than 270 degrees.

The large, 1,600-square-foot two-bedroom (converted from three- bedroom) residence was purchased by the seller from the building's sponsor for approximately $900,000

The residence will be offered without reserve, subject to a minimum bid of $350,000. The auction will be held at the Waldorf Astoria hotel.

PHOTO : A luxury cooperative apartment is being auctioned at Trump Plaza.