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Pier Pointe Auctioned Off Today

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Details are very fuzzy on this one, but two different sources confirmed that the under-construction Pier Pointe condo complex in Marina del Rey was auctioned off today in bankruptcy court. There were five bidders; the winning bid was $39.25 million, but it's not clear if the court accepted that bid. Last we heard, CIM/Lee Homes had taken over the project, but that info was wrong, according to our tipster. (And Lee Homes was never involved in the actual bidding.) "CIM cratered a month ago-now suing to get back their deposit," he writes. "New auction held today." More to come...[Curbed InBox]