In February, the Common Council passed resolutions to sell two City-owned properties: 10-12 Warren Street and 429-431 Warren Street. Today, the date of the auction was finally announced. It will take place on Tuesday, April 25, at 3:00 p.m., at the Central Fire Station, 77 North Seventh Street.
The minimum bid for each property has been set as the value determined by the most recent appraisals of the buildings: $895,000 for 10-12 Warren Street and $595,000 for 429-431 Warren Street. The sale of each building will be subject to a $100,000 penalty in the event that it is not developed for a commercial use within three years of the conveyance of title or if all or any portion of the property is sold within three years of the conveyance of title.
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