64 Properties Sold Via Online Auction, Resulting In $2.9M

NEW ORLEANS (AP) — The New Orleans Redevelopment Authority has sold all 64 vacant properties up for grabs in its first online-only auction, with winning bids totaling $2.9 million.

         Officials announced Wednesday that more than 160 bidders participated in the auction held Nov. 9-10. The New Orleans Advocate’s Jessica Williams reports properties that buyers snagged included single- and multiple-family homes and vacant lots in several neighborhoods.

         The highest winning bid was $186,000 for a home on Voisin Street. The lowest winning bids were properties and lots that sold for $2,500 each.

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         Officials said auction participants included first-time homeowners, young buyers wanting to have their "dream home," developers and investors interested in the rebuilding of New Orleans.

         Buyers are required to build on or rehabilitate the property within a year of the sale.

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