Sheldon Good makes its Manhattan return

New York /
Jan.January 07, 2011 06:22 PM
John Cuticelli

Auction house Sheldon Good & Company is hosting a Manhattan auction for the first time in roughly two years, following turmoil at the company, including the death of its CEO.

The company, now led by John Cuticelli, is launching two auctions on Feb. 13 at the New Amsterdam condominium at 2360 Amsterdam Avenue in Washington Heights and at East River Tower in Long Island City.

The first auction, designed to be “a developer’s closeout,” according to Cuticelli, is aiming to unload the remaining 22 units at the 34-unit building.

The other, a “launch event” at the Long Island City condominium, is offering a selection of 25 of the building’s 71 units at auction.

Bids start at $125,000 for units in the Washington Heights building and $195,000 for the Long Island City development.

Cuticelli said that the company’s hiatus from the New York City area was due in large part to a drop in demand. Of course, the company’s woes over the past few years, including its April 2009 bankruptcy filing, also took its toll.

Cuticelli said that he had to completely restructure Sheldon Good after purchasing the company in July 2009.

“It had its troubles in 2008… so [when] I came in and purchased the company, I replaced the entire executive management team. I totally redefined the tech of the company,” he said.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
North Dakota businessman scoops up 2nd unit in Extell’s One57
North Dakota businessman scoops up 2nd unit in Extell’s One57
North Dakota businessman scoops up 2nd unit in Extell’s One57
(Facebook via The Palms Hotel Fire Island)
Fire (Island) sale: Palms Hotel hits the market
Fire (Island) sale: Palms Hotel hits the market
Five Jamaica Estates homes fit for a king (of Queens)
Five Jamaica Estates homes fit for a king (of Queens)
Five Jamaica Estates homes fit for a king (of Queens)
City’s tallest warehouse could be coming to Queens
City’s tallest warehouse could be coming to Queens
City’s tallest warehouse could be coming to Queens
(Getty)
Weekly home listings hit record low
Weekly home listings hit record low
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...