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Multiple Properties Are Up for Auction

NEW YORK CITY-Tri-State-area properties available at the Dec. 16 auction include an apartment building here as well as development land on Long Island that is already approved for an assisted-living facility.

By Barbara Jarvie | Updated on December 09, 2003

NEW YORK CITY-What do an Oakdale, NY site approved for assisted living facility, a 15-unit Manhattan apartment building, a vacant commercial building on East 8th Street and commercial landsites in New Jersey have in common? All of them will be offered up for auction next week.

“People who have come into contact with the auction marketing method tend to find it extremely effective, with its compressed marketing period and relative time-certain date of sale,” a spokesperson for Sheldon Good & Co, who is auctioning the properties,. tells GlobeSt.com. “In other words, ‘try it, you’ll like it.’ Those who have gone the auction route find it extremely effective as an alternate marketing strategy, if not the primary marketing strategy.”

For example, the owner of the 3.9-acre land parcel in Oakdale retained Sheldon Good in late 2001 to sell a 47,000-sf vacant nursing home, called the Chandler Care Center, in Ossining, NY. The site already has approvals to build a 57,000-sf, 66-unit/132-resident assisted- living facility. Immediately adjacent to the property is a 280-bed skilled nursing home. Other potential uses include a 55+ residential development. The property is being offered without reserve, subject to a minimum bid of $2.2 million. A cashier’s or certified check in the amount of $215,000 is required to bid.

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