Chelsea Penthouse to be Sold at May 21st Bankruptcy Auction

May 07, 2015, 14:24 ET from AuctionAdvisors

NEW YORK, May 7, 2015 /PRNewswire/ -- Located at 116 West 22nd Street in the established yet still trendy and increasingly popular section of Chelsea, bordering the historic Flatiron District, lies one of the hottest real estate opportunities in New York City – a penthouse condominium with a keyed elevator and huge outdoor patio - going to auction on May 21st at Noon by order of the US Bankruptcy Court.  With a loft-like design, an outdoor space large enough to host your own parties, and floor-to-ceiling windows exuding a Zen-like feeling, the original out-of-state owner fell in love with this building and jumped on the opportunity to be the first and only owner of Penthouse A since SOMA's 2007 development. 

"For seven years, this property has been rarely used, much like a diamond in the rough," explained Joshua Olshin, Managing Partner of AuctionAdvisors.  "Now, the area is sizzling hot.  There's no doubt potential homeowners and real estate investors will want to acquire this beautiful and well-situated residence," he adds.  This one-bedroom home boasts highly desirable features including floor-to-ceiling windows, a fireplace, Juliette balconies, a large outdoor terrace and a cyber doorman.

"While in recent years we have seen new construction with similar features appearing in boutique style buildings, there's really no other building that is both well located like this property and affords this kind of luxurious outdoor space with exclusive penthouse prestige," comments Oren Klein, Managing Partner at AuctionAdvisors.  "This is an opportunity to get a spectacular condominium at what will likely be a real value," he adds.   

The auction will be held on Thursday, May 21 at Noon at the property.  Sold free and clear of liens and encumbrances, the sale is subject to Bankruptcy Court approval. AuctionAdvisors and Auction Markets, LLC are the exclusive sales agents for the Trustee.  For more information or to schedule a showing, please contact Oren Klein, AuctionAdvisors via email at or by phone at 212-375-1222 ext. 703.

AuctionAdvisors, based in the New York metropolitan area, is a full-service real estate auction company. With strategically located offices around the country, AuctionAdvisors services clients in the disposition of real estate and related assets. For a complete list of auctions and sales or to learn more about AuctionAdvisors visit

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SOURCE AuctionAdvisors