The Outcomes of the December Auction
Results of the December 16, 2016 auction are displayed in the form of an interactive table below, which includes the winning bid price, description of the property, and information on the winning bidder. By default, the table is grouped by winning bidder, but by clicking the purple "Group" button on top, the table can be customized and grouped by other fields, such as "Bidder City" or "Block".
Due to table size constraints, in order to view all information, a user will either need to scroll from left to right or click on the bottom right to view the table in a larger size in a second window.
The auction results can also be downloaded in the form of a .csv, by clicking "Download CSV" on the bottom.
By the numbers:
39 properties were auctioned
32 (82%) winning bidders did not rescind their bids.*
$69,000 = highest price paid for a property in the auction.
$336,700 = total value of all the winning bids.
$4,350 = 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.
We have profiled two different properties from the auction:
Most valuable: 239 Chestnut Ave
Most wanted: 6 Seward Ave
Photographs come from 2013 Google Streetview, so properties may be in better or worse condition than depicted here. Interested buyers should always visit properties in person in advance of an auction and take advantage of any walk-throughs when possible.
Most valuable: 239 Chestnut Ave
Selling for $69,000 (with an opening bid of $25,000), 239 Chestnut Ave was the most valuable property at auction. Built in 1910, this single family home was purchased by Zulema Perez-Lopez of Trenton. Perez-Lopez was also the winning bidder of 519 Monmouth and 148 Pearl Streets during the same auction.
Most wanted: 6 Seward Ave
We have described this auctioned property as most wanted because it sold for 36.5 times more than its starting bid, proportionally more than any other property. Built in 1900, this 3-story single-family home had a starting bid of $200 and sold for $7,500 to Darwin C Perez-Cabrera of Hamilton, who also won four vacant land parcels at 77-83 Phillips Ave during the same auction.
