Description
The committee reviewed private bids of $500,000 and $425,000 for 111 East 3rd Street and rejected them to send the property back to auction.
Impact summary
The Real Estate Committee denied it on May 28, 2026.
Ensures the city receives the full $430,000 bid amount or places the property back on the market.
Applicant
- Name
- ABCNY Inc. / KBJB Temp LLC
- Address
- 111 East 3rd StreetSee this on the map
At a glance
- Hearings
- 2
- Public comments
- 4
- Total mentions
- 2
Last vote · Real Estate Committee
Last discussed Jun 15, 2026.
Meeting timeline (2)
Real Estate Committee (Special) - Jun 15, 2026
The buyers requested a sliding scale pricing arrangement for the property, which the committee rejected.
Real Estate Committee - May 28, 2026
Two private bidders offered $500,000 and $550,000 for the property, but the committee rejected both as too low compared to its appraised value.
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