The 41-42 Owners Corporation will hold a public auction on August 4, 2026, to sell the cooperative apartment interest tied to Unit 3F at 41-42 73rd Street in Woodside, New York. The auction, scheduled for 11:00 a.m., will take place outside the offices of Hagan, Coury & Associates at 908 Fourth Avenue in Brooklyn.
The sale arises from a default under a proprietary lease between the cooperative corporation, as lessor, and lessee Chyang Seon Kim. As a result, the cooperative’s security interest attached to the 542 shares allocated to the apartment will be auctioned as collateral. The lien amount is approximately $37,500 as of June 10, 2026.
Prospective bidders must provide a down payment of at least 10% of the purchase price at the time of the auction, payable by certified or bank check drawn on a New York Clearing House member bank and made out to “Hagan, Coury & Associates, as Attorneys.” Cash payments will not be accepted. The remaining balance of the purchase price must be paid within 30 days following the auction.
Purchase approval is subject to the cooperative corporation's board consent, which will not be granted to investors or individuals not intending occupancy. The board reserves sole discretion to withhold approval for any reason. Moreover, successful bids cannot be assigned without prior written consent from the cooperative corporation. Unauthorized assignment or bids made by non-occupants may lead to forfeiture of the deposit.
The sale is governed by the terms of the proprietary lease, the cooperative’s by-laws, offering plan, and related amendments, as well as other applicable rules and regulations. Persons currently occupying the unit, including tenants or subtenants, remain subject to these terms.
The cooperative corporation retains the right to bid at the auction and may purchase the collateral without being subject to the occupancy or down payment requirements imposed on other bidders.
Debtor Chyang Seon Kim may obtain an accounting of unpaid indebtedness upon payment of a $150 accounting fee.
The auction notice was issued on June 18, 2026, by William J. Coury, Esq., attorney for the cooperative corporation, with Leonard N. Jacobs serving as assistant secretary. Interested parties may contact Hagan, Coury & Associates for further details.