Nassau County Long Island Foreclosure results 9/22/2009
This weeks results of the public auction held each Tuesday at 11:30 AM in the Calender Control Part (CCP) Courtroom of the Supreme Court, 100 Supreme Court Drive, Mineola, NY was as follows:
Plaintiff (Bank) Address Town Upset price Result
Option One 10 Downs Rd Hempstead $202K investor $108,000
Citi Mortgagae 529-3B W. Broadway Long Beach investor* $225,000
Indy Mac 80 Rockaway Ave Rockville Centre investor $380,000
JP Morgan 57 Claflin Blvd Franklin Square $315,000 Bank
Perla? 500 Nassau Rd Roosevelt $650,000 Bank
Indy Mac 5 Welsley St Hempstead $128,840 investor $156K
Lasalle 22 Lorraine Dr Island Park $171,500 investor $172K
HSBC 207 Randall Ave Freeport $366,686 Bank
Emigrant 33 Ave A Inwood $155,186 Bank
American Home 83 Fairview Blvd Hempstead $225,000 investor $258K
Fundex? 142 Cherry Valley Ave Garden City $1,201,650 (2nd) Bank
Wamu 349-351 Central Ave Lawrence $997,778 Bank
BS Re? 390 Emerson Pl Uniondale $195,000 Bank
Deutch 477 Sterling Ave Uniondale $178,500 Bank
Citi Mort 54 Sycamore Ave Floral Park $348,000 Bank
HSBC 19 S Cottage St Valley Stream $259.237 Bank
Notes;
68 Scheduled, 16 auctioned, Plaintiffs (Banks) took back 10, investors bought 5, *Bank of America bid on the Long Beach unit, up to the winning bid of $225,000 and won the bid. (I have only seen that once before in the last 2 years of attending the auction) My thinking is that it was a first lien protecting it’s position over the foreclosing second lien holder, or vice versa.
The Garden City auction was interesting as the upset price was stated as over $1.2 million. One of the investors asked the Referee if it was a first lien that was being auctioned. The referee responded that it was not and that it was a second lien. The investor asked further how much the first was for and he responded that the first was for $800k with negative amortization to $1.3 million.