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4/30/2018 - City of Bridgeport Owned Properties Go to Auction


Mayor Joseph P. Ganim
Bridgeport, CT

For Immediate Release 
April 30, 2018

For More Information:
Dalmarys Matos (203) 576-7201
dalmarys.matos@bridgeportct.gov

Press Release

City of Bridgeport Owned Properties Go to Auction
Four City-Owned Properties Available for Purchase Beginning May 1st


Bridgeport, CT – The City of Bridgeport has released information on four city-owned properties that will go on auction for purchase on Tuesday, May 1, 2018 at 6:00 p.m. at City Council Chambers, 45 Lyon Terrace, Bridgeport, CT.

“These lots were once blighted properties that we were forced to demolish because of the poor condition of the homes and the risks to public health,” said Mayor Ganim. “Unfortunately, empty lots also pose threats to our community. They reduce property values, increase crime and increase municipal cost. Now there is an opportunity for new life. We encourage developers and first-time homebuyers to buy land and contribute to the quality of life in Bridgeport.”
Director of Business Development & Property Disposition Max Perez said, “This is a great opportunity for developers and first-time homebuyers to acquire their own piece of property. Purchasing real estate for your family or with the intention of flipping the home is a positive investment for a prospective buyer. In both cases, these transactions generate revenue that helps our city and revitalizes our neighborhoods.”

The properties include 280 Grandview Avenue, 57 Hallett Street, 1218 Kossuth Street, and 33 Lee Avenue. All four properties are being sold where is and as is without contingencies. All parcels are starting with a minimum base price. Any person wishing to bid must register between 5:00 p.m. and 5:45 p.m. on May 1st. The bidder must state which properties they intend on bidding upon and must present a bank check or certified funds in the amount of ten percent (10%) of the initial asking price for each property they intend on bidding upon.

In the event the bidder is not the successful bidder; all deposits will be returned at the close of the auction for that individual parcel. The successful bidder will need to sign a contract immediately after the auction and will be given thirty (30) days to close or forfeit their deposit. A sample contract will be available for review at the auction.

For more information, contact Max Perez at max.perez@bridgeportct.gov.

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