State to auction off 82 storm-damaged properties in May
At an auction of storm-damged properties in May, a Massapequa couple, who declined to give their names, were the top bidders with a $600,000 offer for this bayfront property on Leewater Avenue. Credit: PRUSA
Eighty-two properties damaged by Sandy and other storms will be auctioned in May at the Hilton New York JFK Airport in Jamaica, state officials announced Monday.
The properties — mostly single-family homes — are in Suffolk and Nassau counties, Brooklyn and Queens, on Staten Island, and in upstate Tioga and Schoharie counties. The state’s New York Rising Acquisition Program, established in 2013, bought the properties from homeowners for resale to those willing to repair and elevate them.
The event, to be held May 11, is the last major auction planned by the acquisition program, which has sold 384 homes to date, raising $58.3 million for storm recovery programs, officials said.
Prospective auction bidders will be able to inspect most properties before the auction during scheduled open houses to be held April 20 to 21 and April 24 to 26.
“Through the NY Rising Acquisition Program, we can offer properties at a fraction of their pre-storm value, enabling prospective purchasers to rehabilitate and elevate these homes, which in turn, improves the resiliency of the housing stock in the state’s most vulnerable communities,” said Lisa Bova-Hiatt, executive director of the Governor’s Office of Storm Recovery.
The first and second auctions were held in May and November 2015. Two hundred eighty-two Long Island homes sold for $40.5 million. The third auction was held last May and included 49 Long Island homes, 51 New York City homes and two upstate homes sold, bringing in a total of nearly $17.9 million.
Registration starts at 9 a.m. and the auction will begin promptly at 10 a.m. Interested bidders must pay $50 to purchase materials including appraisals, surveys, title reports, photographs, terms of sale, and a copy of the purchase and sale agreement that winning bidders will sign at the auction.
The properties to be auctioned had pre-storm values ranging from about $136,000 to $840,000.
A list of properties is on the Paramount Realty USA website, www.prusa.com.
Candice Ferrette covers Nassau County government and politics on Long Island. She has been a reporter at Newsday since 2011.
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