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Mount Vernon Foreclosure Auction Yields $2.4 Million

The Mount Vernon auction will bring a net gain of $1 million for the city.
The Mount Vernon auction will bring a net gain of $1 million for the city. Photo Credit: Greg Maker

MOUNT VERNON, N.Y. -- A variety of 33 properties owned by Mount Vernon for nonpayment of taxes and other fees, raised more than $2.4 million at an auction, according to Lohud.com.

The 33 properties in the May 4 auction, included churches, homes and vacant lots and will net city around $1 million after expenses, said Lohud.com.

Three properties didn't sell, so the city will work with interested buyers who offered below the bid price to seek the best offer. One of the hot properties was the former headquarters of the Jonas Brothers Studios which sold for $310,000 with a starting bid of $65,000, added lohud.com.

Click here to read the lohud.com article.

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