$57.7M foreclosure sale set for UWS 100-unit Lichter building

A referee will auction the Upper West Side apartment building at 175-179 West 76th Street on Nov. 10 to satisfy a $57,710,750.76 foreclosure judgment against its owner, Lichter Real Estate Number One, L.L.C. The notice, first published Oct. 8, gives lenders and bidders 33 days.

Why it matters

The building takes in the corner of Amsterdam Avenue (341-347 Amsterdam) and sits on Block 1148, Lot 1. City tax-lot data lists 100 residential units out of 103 total, 125,040 building square feet over 15 floors, built in 1925. The owner of record on that data is the same Lichter entity named in the suit.

The court record shows a Judgment of Foreclosure and Sale dated Sept. 14 and entered Sept. 22, then an amended order entered Oct. 1. The sale is Tuesday, Nov. 10 at 2:15 p.m. at 60 Centre Street, in the courtroom posted outside Room 130. The auction is pending: an owner can still settle or the sale can be adjourned.

The numbers

The plaintiff is 175 West 76th Street LLC. City Register records show it received the loan by assignment from PT ATL SPV Grantor Trust, recorded May 23, 2024, and the case index number (850233/2024) carries the same year. That trust had itself received the loan from Capital One, National Association in an assignment recorded in October 2021. Capital One was the lender on the owner’s 2014 and 2018 mortgages.

The last consolidation agreement of record, recorded Oct. 29, 2018, was for $37,000,000. The judgment is $20.7 million above that figure. We have not pulled the judgment’s breakdown, so we cannot say how much is principal versus interest and fees.

Measured against building area, the judgment works out to about $461 per building square foot. That is a judgment figure, not a price, and a sale could clear well above or below it.

What’s next

Watch for a postponement or a pre-sale settlement before Nov. 10. If the sale goes ahead, the referee’s deed will show the buyer and price in the City Register. For other New York auctions on the calendar, see New York and our report on a Harlem building heading to auction after a 13-year foreclosure.