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Home Team | PBD Podcast | Ep. 216
PBD Podcast
What's the Point of a Bankruptcy Court Auction?
Albany is very popular. You're seeing NBA players and athletes and billionaires that are looking around over at Albany. So when you're trying to sell these high-end properties, what you don't want is 15 properties to be caught up in US bankruptcy court with signs out front that says auction pending. What you want is the government wants our bankruptcy court to release them back so that two things can happen. Number one, it doesn't affect the value of the other Albany properties. And number two, they can sell them to the next guy.
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