Couple to auction off four luxury homes with no reserve

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

TRD 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

Triplemint expands to New Jersey

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest

LeBron wanted it and California’s governor signed it. What the college athlete compensation law means to real estate

arrow_forward_ios