Bronx 3-family bought for $1.05M in 2025 heads to $1.1M auction

A three-family building at 4354 Park Avenue in Morrisania, the Bronx, goes to a court-ordered auction on Oct. 19 to satisfy a $1,121,724.23 foreclosure judgment. The notice of sale lists the plaintiff as 5AIF Nutmeg, LLC, with referee E. Stephen Kaufman and a 2:15 PM start. For Bronx lenders and small-building buyers, the open question is how a property that traded for $1.05M ten months ago ends up on the auction block.

Why it matters

The foreclosure case, Index No. 30152/2019E, was filed in 2019 against Welcome Street Management Corp. ACRIS shows that company took title in 2018. It then shows a deed recorded Dec. 26, 2025 moving the building to Williams NY Management Corporation for $1,050,000. That deed came with an $840,000 mortgage from Brooklyn Funding Group, since assigned to TVC Funding VI, LLC.

The deed and the case sit side by side in the record. We could not tell from public records whether the December sale was part of a workout of the 2019 loan. The judgment is $71,724 above the December price, so a sale at that level would not cover the debt in full. Either the December closing did not retire the lien, or the auction is moving on a separate timetable. Bidders should assume a lender with a claim ahead of them and review title before the 19th.

The numbers

The city’s tax-lot data lists 3 residential units in about 2,316 sq ft over 2 floors, built in 1899, owned in city records by Williams NY Management Corporation. At $1.05M, the December deed implied about $350,000 per unit. The $840,000 loan was 80% of that price.

The judgment’s lineage runs through the 2019 assignment of the old mortgage to 5AIF Nutmeg LLC. The original loan was $264,000 with a $564,000 agreement in 2018, both recorded to Insula Management, LLC.

HPD’s open-data file lists 81 Class C violations on the lot dating back to 1971, plus 62 Class A, 101 Class B and 11 Class I. Only one violation was inspected in 2026, on April 30. We did not confirm how many remain open.

What’s next

The sale runs Oct. 19 at 2:15 PM. A cancellation or adjournment would show up on the court docket and the notice. NYSCEF is browser-only, so the complaint and the judgment date are queued for a manual pull. Our earlier coverage of a larger Bronx auction is in 3044 Wallace Avenue, and more on the borough is on the New York hub.