Sale of Condo Units in Palisades Park
Tarragon Corp has obtained authorization to sell its remaining 71 units in a 140-unit condo project in Palisades Park, New Jersey, for $18.1 million (unless a better offer comes along during its Feb 17, 2009 auction). The residential real estate developer filed for Chapter 11 in Jan’09 to forestall foreclosure action by creditors. Anyway, in terms of sale procedure, the deadline for bids is Feb 13 and the sale hearing will be held on Feb 20.
