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Update: Dreier's Homes Underperform on the Block

[Photos courtesy Maltz & Co.]
As first reported last month, former attorney-waiting-sentencing Marc S. Dreier's two Quogue properties went on the auction block this Wednesday. Expected to fetch upwards of $12.5 million, the Dune Road homes were sold for $6.6 million and $3.8 million, respectively, coming in around $2 million short. Dreier, who pled guilty 'to selling fictitious promissory notes and bilking investors out of hundreds of millions of dollars', is currently having his estate liquidated while free on bail until his July sentencing. Next up, his One Beacon Court apartment which goes on the block July 21. Envy the floorplan pornage here.
· Dreier's Hampton Homes Net $10 Million at Auction []