The winning bid was $400,000, sources present at the auction confirmed.
Until a falling out with his brother, Richard, Michael Goldstein had co-owned Randall Publishing.
There were five active bidders for the property, a source said.
The company, which generated estimated net income of $97,000 last year and $101,000 in 2007, was founded by the Goldstein brothers in 1984. The sale is being handled by Realization Advisors, the court-appointed custodian of Randall Publishing.