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Another Big Foreclosure Auction in the Hamptons?

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Last September, we reported about a foreclosure auction on Further Lane in East Hampton; with $10.5M owed on the mortgage, it was expected to be the biggest ever in the Hamptons. Well, the auction didn't occur as scheduled. Here's another big auction scheduled for February 6. The lien amount this time is $3.7M. There's a 1683sf house built in 1991 with three bedrooms and four bathrooms, probably a teardown. More importantly there's 1.41 acres of land south of the highway with a dock on Mecox Bay. Will someone be able to snap up a bargain?
· 97 Rosewood Ln [PropertyShark]