Two luxury properties in the Hamptons seized by prosecutors following the December arrest of attorney Marc S. Dreier were auctioned on Wednesday for more than $10 million, according to Salvatore LaMonica of LaMonica Herbst & Maniscalco, the Chapter 7 trustee charged with liquidating Dreier's estate.
Auctioneer David R. Maltz & Co. sold 111 Dune Rd. in East Quogue, N.Y., for $6.6 million and 109 Dune Rd. for $3.8 million. Mark F. Pomerantz, who acted as receiver in Securities and Exchange Commission v. Dreier, 08 Civ. 10617, previously reported that selling the homes could generate $12.5 million or more.
Dreier, 59, who has pleaded guilty to selling fictitious promissory notes and bilking investors out of hundreds of millions of dollars, remains free on bail until a July 13 sentencing before Southern District of New York Judge Jed S. Rakoff.
Dreier's penthouse at 151 E. 58th St. in Manhattan, which boasts five bedrooms, a 600-square-foot terrace and floor-to-ceiling windows, will be auctioned on July 21 at the Southern District Bankruptcy Court. Interested bidders must present a $500,000 certified check made payable to the trustee.