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NORALogoFOR IMMEDIATE RELEASE

September 22, 2014

Media Contact:  Jasmine J. Haralson

                                Director of External Affairs

                                504.658.4421

                                jjharalson@nola.gov

New Orleans Redevelopment Authority to Auction 130±Properties City Wide

Selling Absolute to Highest Bidder

The auction is open to the public with no restrictions.  Anyone can attend and bid on the properties.

NEW ORLEANS, LA - The New Orleans Redevelopment Authority (NORA) has partnered with Hilco Real Estate, LLC to auction 130± properties on Saturday October 25, 2014 at 11:00 AM.  Registration will begin promptly at 9:00 AM. The auction will be held at the New Orleans Ernest N. Morial Convention Center, Hall H, Room 293. Parking is available across the street.

Properties will sell absolute to the highest bidder regardless of price.  NO MINIMUM, NO RESERVE.  Interested bidders are encouraged to visit www.hilcorealestate.com/NORA  for property information and pre-registration instructions.

 

Properties include single family homes, doubles and vacant lots.  The properties are located in the New Orleans East, Gentilly Terrace, Filmore, Broadmoor, Hollygrove and West End neighborhoods and many more. A non-refundable minimum deposit, per property, of $2,000, (that will need to be increased 10% of the High Bid Price).  The deposit is due the day of the auction and must be in the form of cashier’s check, money order, cash or certified funds.  There is no cost to bid and no Buyer’s Premium. There will be a Buyer’s Seminar on October 8, 2014, 7:00 PM.   Dryades YMCA, 2220 Oretha Castle Haley Blvd.  Registration begins at 6:30 PM.

There are 90± structures that will be open for inspection prior to the auctionon Saturday, October 11th and Sunday, October 12th, 2014.  Please visit www.hilcorealestate.com/NORA  for exact times and instructions. 

“We have received hundreds of inquiries since launching our online database of properties. We are excited to make available this next pool of properties,” said Jeff Hebert, NORA’s Executive Director.

Winning bidders must agree to rehab or complete construction on the property within 365 days and keep it code compliant.  Bidders may use the property for green space if their property is directly adjacent to the property acquired at the auction.

For additional information, please call 504-407-5190or visit www.hilcorealestate.com/NORA 

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The New Orleans Redevelopment Authority is a catalyst for the revitalization of the city, partnering in strategic developments that celebrate the city’s neighborhoods and honor its traditions. 

NORA NEWSLETTER ARCHIVE

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