FOR IMMEDIATE RELEASE
November 18, 2015
Media Contact: Mary Beth Romig
Director of Communications
NORA’S FIRST ONLINE ONLY AUCTION IS A SUCCESS
NEW ORLEANS, LA - The New Orleans Redevelopment Authority (NORA) held another successful auction, this one completely online. The two day auction event was held on Monday, November 9 and Tuesday, November 10. More than 160 people participated and the winning bids totaled approximately $2.9 million. The Hilco Real Estate, LLC team was headed up by Fernando Palacios, Sr. Marketing Director, Jeff Azuse, Sr. Vice President; Steven Mathis acted as Louisiana Licensed Auctioneer and Paul A. Lynn, CCIM was Louisiana Real Estate Broker.
“Our first online only auction was a great success; we are extremely pleased with the number of participants,” said Jeff Hebert, Executive Director of NORA. “The winning bids at the auction once again exceeded our expectations.”
“We are proud to work with NORA in getting these properties back into the hands of the community,” said Paul Lynn, CCIM of Hilco Real Estate, LLC.
Buyers competed for properties located throughout the city of New Orleans. The highest winning bid was $186,000.00. Auction participants included first time home owners, young buyers wanting to have their “dream home,” developers and investors interested in the rebuilding of New Orleans. Buyers are required to build or rehabilitate the property within 365 days in accordance with all required building ordinances and codes. To be notified of future NORA auction events, register at www.hilcorealestate.com/nora or redevelop.nola.gov
NORA is charged with implementing redevelopment projects for the City of New Orleans through acquiring and disposing of both residential and commercial properties and the disposition of Road Home properties in Orleans Parish.