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FOR IMMEDIATE RELEASE

February 23, 2015

Media Contact:  Mary Beth Romig

                                 Director of Communications

                                 504.658.4450

                                 mbromig@nola.gov

NORA to Auction 130±Properties City Wide

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 March 28, 2015 at 11:00 AM.  Registration will begin promptly at 8:30 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, Filmore, Broadmoor, Hollygrove and Lakeview, St. Roch, Lower Ninth Ward 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 Wednesday, March 11, 2015, 7:00 PM, at the Dryades YMCA, 2220 Oretha Castle Haley Blvd.  Registration begins at 6:30 PM.

There are 30± structures that will be open for inspection prior to the auctionon Saturday, March 14, 2015.  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 504-233-0063 or 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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