SPRING VALLEY, NY (The Journal News) — The former Temple Beth El property on Viola Road has been sold to the United Talmudical Academy of Monsey, a Satmar organization. The property at 415 Viola Road in the unincorporated section of the Town of Ramapo was auctioned off in June. More than 100 prospective buyers expressed interest in the 32,000-square-foot building on a 5.6 acre lot, and four bidders filed their bids at or above $8 million, said Joshua Olshin, managing partner for AuctionAdvisors, which administered the auction. The winning bid, $9.196 million, was "very far in excess of expectation," Olshin said.
NEW JERSEY (Journal of Corporate Renewal) — AuctionAdvisors' Managing Partner and Co-Founder, Oren Klein, was featured in JCR Magazine September Issue. With more than 16 years of auction experience, he is responsible for auction sales and client management throughout the United States. In this Q&A style interview, Mr. Klein disucsses his experiences in the auction industry.
BROOKLYN, NY (Crain's New York) — James McGown, a notorious Brooklyn landlord, saw much of his real estate empire dismantled Tuesday when several of his properties were sold in a series of street-side auctions by AuctionAdvisors. The auction was very successful, a three-story building at 320 Court St. in Carroll Gardens, sold for $4.95 million. Other McGown buildings sold Tuesday: a four-story walk-up at 300 Van Brunt St. in Red Hook, which sold for $1.88 million, and two four-family apartment buildings at 555 and 557 Union St. in Gowanus that have been vacant for several years due to structural problems, which fetched a total of $3.7 million.
SPRING VALLEY, NY (The Journal News) — Once a focal point of Reformed Judaism in Rockland, the former Temple Beth El of Spring Valley was auctioned off in June 2016. The Spring Valley congregation last year merged with Beth Torah in Upper Nyack, forming the Reform Temple of Rockland. The merger became necessary as Rockland's changing ethnic makeup led to declining membership and revenue.
SARASOTA SPRINGS, NY (Albany Business Review) — The owner of the Saratoga National Golf Club, Tom Newkirk, has purchased 14-acres of vacant land to help preserve the views at the 18-hole course in Saratoga Springs, New York. Tom Newkirk built Saratoga National into one of the top public golf courses in the country, and was the high bidder during a two day auction held in January. The outcome of the auction was not made public until now, a week after the deal closed. Saratoga National bought the property on Meadowbrook Road for $99,000 from Tim Niedzwiecki, founder and president of Environmental Remediation Services Inc. in Rotterdam. The property was auctioned off by Auction Advisors in a New York City.
NEW JERSEY (NorthJersey.com) — Auctions are still an unusual way to sell properties, but they've been the choice of a few recent sellers in the area. An eight-bedroom Ridgewood home was auctioned in October for an undisclosed amount. And a six-bedroom Tuxedo Park, N.Y., home was auctioned on Nov. 12. "At the end of the day, auction companies are just marketing firms," said Oren Klein, managing partner at AuctionAdvisors in Montclair, which auctions both commercial and residential properties.
WEST HAVEN, CT (New Haven Register) — The auction to determine the future of the former Lender's Bagels bakery never took place. Just one team of qualified investors showed up — and they ended up negotiating a deal to buy the property for an undisclosed figure that was higher than the $499,000 minimum, said officials with AuctionAdvisors, the New York company hired to sell the property at auction.
ATLANTIC CITY, NJ (The Washington Post) — The tale of Trump and the widow who wouldn’t sell arcs across the panorama of Atlantic City’s recent ups and downs. Vera Coking and her husband bought the white, three-story house at 127 Columbia Pl. in 1961, long before the area was transformed by mega-casinos. She raised her children there. For a time, she operated it as a boarding house. Trump wanted Coking’s house — not to live in, but as a place to park limousines for his casino next door. But Coking wouldn’t sell it to him.
WEST HAVEN, CT (New Haven Register) — For decades, until about 15 years ago, the big white building at Route 1 and Tuthill Street cranked out millions of Lender’s Bagels, the locally-founded company that introduced the now-ubiquitous round “roll-with-the-hole,” once just a Jewish thing, to households across America.
SOUTH WINDSOR, CT (The Hartford Courant) — The property of the former South Windsor Ten-Pin Bowlscheduled to be auctioned. The vacant 4-acre property off Route 5, also known as John Fitch Boulevard, is being auctioned by the firm AuctionAdvisors. The bowling alley, built in 1958, was demolished in March 2011 after part of it collapsed under the weight of heavy snow a month earlier. No one was injured in the collapse. Oren Klein, managing partner, said "We've had an interest from a variety of different parties looking to develop for commercial use."
BEACH HAVEN, NJ (Asbury Park Press) — The curtain appears to have fallen permanently on Surflight Theatre. An auction has been set for 1 p.m. on August 6 at the landmark theater, an event which will be open only to those who bring with them a certified check in the amount of $100,000 as a demonstration of serious intent.
NEW YORK, NY (PR Newswire) — Located in the trendy and increasingly popular section of Chelsea, bordering the historic Flatiron District, lies one of the hottest real estate opportunities in New York City – a penthouse condominium with a keyed elevator and huge outdoor patio. It is being sold at auction by AuctionAdvisors by order of the US Bankruptcy Court. With a loft-like design, an outdoor space large enough to host your own parties, and floor-to-ceiling windows exuding a Zen-like feeling, the original out-of-state owner fell in love with this building and jumped on the opportunity to be the first and only owner of Penthouse A since SOMA's 2007 development.
GOSHEN, NY (Chronicle Newspaper) — The troubled Goshen Plaza turned a corner on Wednesday, when Philip Adler's $7.5 million bid won at a bankruptcy auction held in front of the mall. Adler is chief executive officer of North American Properties, based in Westchester County. The owner of the property is Realty Equities Goshen LLC, which is in bankruptcy over a $7.9 million mortgage owed on the property, Novick said. The auction was held at the vacant storefront previously occupied by Style Connection Hair Salon, one of a half-dozen empty storefronts at the plaza. Goshen Plaza Partners purchased the mortgage debt from TD Bank for an undisclosed amount. The sale of the property will still need to be approved at a bankruptcy court hearing, to be held in federal court on April 30.
PHILADELPHIA, PA (The Philadelphia Inquirer) – Mark Group, the U.K.-based home insulation company whose U.S. arm, run by ex-Toll Bros. lawyer Jeff Bartos, was offered $3.28 million in Pennsylvania taxpayer aid by then-Gov. Ed Rendell to open facilities at the Navy Yard in South Philly in late 2010, is the subject of a liquidation sale scheduled for Jan. 27, 11 a.m., at the company’s offices, 4050 S. 26th St.
GOSHEN, NY (Times-Herald Record) — Federal Bankruptcy Court Judge Robert Drain has given a tentative nod for an auction to sell the ailing Goshen Plaza shopping center on or before April 15. The sale would happen if the owner, Realty Equities Goshen, fails to refinance or fund a reasonable bankruptcy reorganization, according to proceedings on Thursday in the White Plains court.
ATLANTIC CITY (Press of Atlantic City) — Carl Icahn has done what Donald Trump and Bob Guccione could not. The billionaire investor and casino mogul has emerged as the mystery buyer for one of the most storied properties in Atlantic City. Real estate records show that Icahn subsidiary IEH Investments LLC paid $583,000 to acquire an old boarding home owned by the family of longtime Trump and Guccione nemesis Vera Coking.
CHATTANOOGA, TN (Times Free Press) — The group of financial investors that bought Parkway Towers in 2008 is now selling the four-story building at auction on Nov. 12, or before if given the right offer. "No reasonable offer will be refused, so to speak," said Joshua Olshin, one of the partners who headed up the investment into Parkway Towers.
PARSIPPANY, NJ (Parsippany Focus) — Approximately 30,000 square feet of office condominiums are up for auction in this three story, 57,700 square foot, Class B office building located at 2740 Route 10 West, Parsippany. Built in 1991, the building offers a sleek exterior design of polished granite and solar glass. The building consists of multiple condominium units ranging from 577 square feet to 5,942 square feet. Bidders may bid on single units, multiple units or all of the available units (over 30,000 square feet). The building is ADA compliant and contains two elevators.
ATLANTIC CITY, NJ (The New York Times) — On July 31, the property, at 1237 South Columbia Place, will go up for auction. The reserve price, or the lowest the seller will accept, is $199,000, but brokers insist it will go for more. As recently as eight years ago, Donald Trump was willing to pay at least 10 times that amount so he could expand Trump Plaza Hotel and Casino. In the 1980s, Bob Guccione, the publisher of Penthouse, also made offers in the seven figures to clear the way for a casino of his own. But those offers, along with threats of eminent domain that turned her briefly into a national hero, were never enough to force Vera Coking out of the summertime retreat she and her husband, Raymond, bought for $20,000 in 1961. Now, as Atlantic City teeters under the weight of all of its opulence, Ms. Coking and her family may have lost their shot at a big payout.
ATLANTIC CITY, NJ (Press of Atlantic City) — AuctionAdvisors auctioned 48 vacant and mostly contiguous lots as part of a federal bankruptcy reorganization for GMAB Realty LLC and SPE Realty LLC. Auction organizer Oren Klein, a managing partner for AuctionAdvisors, served as auctioneer and found lukewarm interest for the two largest blocks, in the shadow of Revel off Vermont and Seaside avenues. “This could take a while,” Klein said after getting no initial bids for the auction’s first offering. “We’re here to sell it. Hopefully you’re here to buy it. We know you are.” The two largest blocks represented 37 of the 48 lots, including two Boardwalk-fronting parcels north of Revel, and sold for the auction minimums of $2.3 million and $3.3 million in single bids that were not contested.
VERNON, NJ (New Jersey Herald) — The Hidden Valley Ski Resort, a fixture in Vernon for 37 years, is going on the auction block Oct. 1 for the second time in seven years. It was not immediately clear Tuesday what the possible sale might mean for the future of the ski resort, located on about 140 acres off Breakneck Road.
JERICHO, NY (Convenience Store News) — Getty Realty Corp. plans to sell six closed petroleum sites in New York and New Jersey via a sealed bid process. The real estate investment trust, which is the owner and master lessee of more than 1,000 convenience store and gas station sites. The properties have potential redevelopment use. The sites are located in Bronx/Mt. Vernon, N.Y., a 5.5-acre property adjacent to a large retail center; Newark, N.J., a 15.5 acre property located on the Passaic River; Long Island City, N.Y., a 4.1-acre property with barge access; Rhinebeck, N.Y., a 2.3-acre property on U.S. Route 9; Port Ewen, N.Y., a 5.7-acre property located just west of the U.S. Route 9W; and Catskill, N.Y., a 5.3-acre property located on both the Hudson River and Catskill Creek.