Couple to auction off four luxury homes with no reserve

The properties were initially on sale for a cumulative price of $46 million

National /
Dec.December 29, 2018 11:00 AM

Robert and Miryam Knutson (Credit: Yolanda’s Little Black Book)

The couple behind the largest for-profit chain of schools in the country is auctioning off four of their luxury homes.

Robert and Miryam Knutson decided to unload the properties about a year and half ago, after Robert contracted a “mystery virus,” according to the Wall Street Journal. Their chain of schools, Education Management Corp., declared chapter 7 bankruptcy earlier in the year.

The homes in Florida, Pennsylvania, Colorado and New Mexico were all on the market asking for a combined $46 million, but after a few months they decided to head to the auction block. The homes are being auctioned off on Jan. 10 and 12 without reserve prices.

Over the past year, auctions have become a more frequently-used approach to move properties that aren’t selling.[WSJ] — Erin Hudson


Related Articles

arrow_forward_ios
Kairos’ founder Ankur Jain (Getty)
Startup charts a (long) path toward homeownership
Startup charts a (long) path toward homeownership
9 Prospect Park West and 2 Northside Piers in Williamsburg (Photos via Google Maps and 2 Northside Piers/Facebook)
A Park Slope co-op was one of the priciest deals inked last week
A Park Slope co-op was one of the priciest deals inked last week
42 Old Montauk Highway, Montauk
The unsellables: Even in a hot market, these Hamptons homes don’t move
The unsellables: Even in a hot market, these Hamptons homes don’t move
220 Central Park South with Michael Cantanucci and 378 West End Avenue (Photos via Getty Images, Jim.henderson/Wikimedia, 378WEA)
Discounts for Manhattan’s luxury homes have shrunk
Discounts for Manhattan’s luxury homes have shrunk
Gov. Andrew Cuomo (Getty/Illustration by Kevin Rebong)
NY flooded with nearly 100K rent relief applications in two weeks
NY flooded with nearly 100K rent relief applications in two weeks
Los Angeles, New York and Miami metro areas are in the top 10 of owner-occupied million dollar homes. (iStock)
These metro areas have the most — and fewest — million-dollar homes
These metro areas have the most — and fewest — million-dollar homes
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
Salesforce CEO Marc Benioff and Amazon's Jeff Bezos are backing the startup (Getty, Arrived)
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Bezos-backed Arrived Homes is latest startup to expand real estate investment
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...