All articles tagged with #real estate auction
A property in Alameda, California, bought at auction for $100,100, is now listed for sale at $400,000 after the new owner discovered it is entirely underwater. The listing, described as a "water lot," highlights its prime location near amenities, though building on it would be costly.
Jacob Garlick, who won the bid to acquire the Flatiron Building for $190 million, failed to come up with the required deposit of $19 million by the deadline, putting his future ownership of the property in question. The second-highest bidder, a group led by GFP Real Estate’s Jeffrey Gural, has the option to purchase the property at their last bid of $189.5 million. However, Gural has stated that he will not exercise his option, meaning the property is likely to head back to the auction block. Garlick's firm, Abraham Trust, invests in private equity buyouts, mergers and acquisitions, and venture capital.