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On the Block

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The developer of Murray Hill luxury condo m127 opted to sell the building at auction later this month to avoid a possible foreclosure down the road. Turns out it might not be very far down the road at all! Broker-blogger Malcolm Carter reports there's a foreclosure hearing scheduled for two days before the auction. And auction buyers won't have many options if the bank is unsatisfied with the auction results. Maybe think twice before boarding that bus? [Malcolm Carter; previously]