Going Once! Going Twice! Not Going: 15 Broad on BidOnTheCity.com

We haven't been over to Manhattan auction site BidOnTheCity in quite awhile, since the first time we poked on over there, they had maybe five apartments listed for auction in all of Manhattan.

Well, fast-forward to yesterday, where a reader tipped us off that not only does BidOnTheCity seem to be picking up but that a unit in the Financial District was up for auction yesterday. That unit is #2220 at Phillipe Starcktastic (we're tired of "Starchitecture") 15 Broad St., a building that we we visited in the spring and have really never liked. Our tipster reports that the auction was a real snoozer, closing with no sale and without even a single bid.

#2220 is a 2,256 sq ft 3BR, 3BA also listed on Streeteasy by BidOnTheCity at $1.75 million. The apartment most recently changed hands in July of 2006 (can you say "bought at the peak" any louder?) for around $1.9 million, although the owners are only mortgaged to the tune of $1.2 million. So even though they're losing money on this puppy, it's not a short sale and probably isn't even bank-owned.

It's quite heartening to see an apartment with a reserve price below the 2006 sales price (listen up all you 15 Broad buyers purchasing smaller properties at premiums to 2007), although quite informative that this property got no bids even at the sub-2006 price. A very bad sign we think for the several other 3BRs currently listed at 15 Broad St that are all priced at $2 million or more.
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