The Outcomes of the November 2018 Auction
By the numbers:
27 properties were fully auctioned off
2 properties did not sell or had winning bids rescinded.*
$101,000 = highest price paid for a property in the auction.
$756,800 = total value of all winning bids.
$21,000 = median value of a winning bid.
* Some bidders had buyer's remorse and defaulted on their option to purchase. The City has contacted runner-up bidders to offer them the property at the price they bid. If these bidders do not want the property, the property may be included in the next auction at the city's discretion. In order to discourage non-serious bidders in future auctions, the City may make the 10% deposit due upon the close of the auction non-refundable and/or increase the registration fee.
For complete results of the November 2018 auction, click here!
Property Profiles:
We have profiled two different properties from the auction:
Most valuable: 1100 Brunswick Avenue
Most wanted: 308 Rutherford Ave
Photographs below show properties taken via Google Streetview in June 2018:
Most valuable: 1100 Brunswick Avenue
Selling for $101,000 (with an opening bid of $65,000), 1100 Brunswick Avenue was the most valuable property at auction.
Built in 1950, this vacant firehouse, known as Engine 9, has 6,242 sq ft of living space on a 12,000 sq ft lot. It was purchased by Markus Green of Trenton.
Most wanted: 308 Rutherford Avenue
We have described this auctioned property on Rutherford Avenue as most wanted because it sold for 31 times more than its starting bid, proportionally more than any other property.
Built in 1891, this 1,129 sq ft tenant-occupied, two-story row home had a starting bid of $500 and sold for $16,000 to Tiyon McIntyre of Ewing, NJ.
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