Property Grunt

Monday, September 14, 2009

The Future is Now!

Straight from Kelly Kreth herself.


New York September 14, 2009 –, the first and only online real estate trading platform for Manhattan residential and commercial real estate properties, announces today that starting September 29, 2009 they will begin holding weekly auctions because of high demand. Each auction day will have no less than five properties up for bid.

Potential bidders can view more listings than ever before on All apartments are occupied and in luxury buildings; there aren’t any distressed or foreclosed units.

“Since our monthly auctions began in May we have been seeing an increasing number of properties submitted for sale, and more are coming in every day. We have just concluded the beta testing of our site and are now faced with huge backlog of both residential and commercial properties. People around the world will want to take advantage of live online bidding to compete for these properties. With over $21 million in real estate sold worldwide since our launch, we see live bidding events for Manhattan property every week for the foreseeable future,” explains Vlad Sapozhnikov, co-founder and managing partner, Bid on the City.

Properties up for bid on September 29th, October 6th and October 13th may be viewed here:

I am telling you right now two things are going to happen.

1. Corcoran, Elliman and Brown Harris Stevens are going to be examining this model very carefully. If they have not done it yet, they will examine creating their own version of Bid on the City.

2. Bid on the City will eventually be bought out.

The fun is just beginning.