S
olly Assa's luxury triplex in Midtown West is hitting the auction block after failing to attract a buyer. The three-unit combination at 70 West 45th Street will be sold with a minimum reserve bid of $30 million through Paramount Realty USA's auction on November 13. Each unit can also be purchased separately, with individual reserve bids ranging from $10 million to $12 million.

    The triplex spans 8,000 square feet and features 13 bedrooms, 10 bathrooms, three powder rooms, and additional office space on the top floor. If sold as a single condominium, the minimum bid would work out to $3,750 per square foot. The property has been on and off the market since 2011, with past residents including Rihanna, French Montana, and former Yankees player Rougned Odor.

    Luxury apartment auctions are becoming more popular among sellers, who see them as a faster and more efficient way to sell their units compared to traditional listings. However, there are drawbacks, such as seller fees and potential price volatility due to the bidding process. Major brokerages are now partnering with auction houses like Paramount to offer this option to clients.