Case Study – Bankruptcy

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5 Story, 21 Unit Rental Apartment Building – Washington Heights, NY

5 Story, 21 Unit Rental Apartment Building – Washington Heights, NY

Project
AuctionAdvisors was engaged by the U.S. Bankruptcy Court to conduct a national marketing campaign for 516 West 174th Street, a 5 story, 21 apartment walk up rental building containing 93 total rooms to ensure that top dollar was received for its creditors. The property is located in Washington Heights, less than one block from High Bridge Park, within minutes of Riverside Park, J Hood Wright Park, and Columbia Presbyterian Medical Center in upper Manhattan. To create a fully transparent auction, AuctionAdvisors implemented an 4 week, local, regional, and national marketing campaign creating a buzz in the marketplace for sought after properties in this specific area. At the time of auction, the property was fully occupied with generating significant monthly income with considerable upside potential. Broker of Record: Integrated Property Group, LLC

Results
- 367 Inquiries
- 46 Site Tours
- 11 Qualified Bidders
116 Acres Direct Bayfront Parcel – Northampton County, VA

116 Acres Direct Bayfront Parcel – Northampton County, VA

Project
AuctionAdvisors was engaged by the U.S. Bankruptcy Court of Delaware to conduct a national marketing campaign to ensure top dollars for the creditors of the 116 Acres of land located in the Lower Virginia Eastern shore area in Northampton County. The land had over1,500 SF of Chesapeake Bay frontage and is located on a beautiful coastline with a white sandy beach. The property received no offers after being on the market for over a year. AuctionAdvisors implemented an advertising program with national exposure, offered bidding by telephone and internet to potential buyers unable to attend the auction, and offered helicopter tours by appointment only to potential bidders that were interested in the property. This resulted in a successful auction and top dollar was received on behalf of the U.S Bankruptcy Courts.

Results
- 56 Inquiries
- 14 Site Tours
- 3 Qualified Bidders