Manhattan real estate hits auction block

BidOnTheCity seeks to create urgency in slowing market

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BidOnTheCity.com aims to stimulate Manhattan real estate sales with a high-tech system for global online auctions that features a 30-day marketing timeline and a 30-minute bidding window.

Albert Feinstein and Vlad Sapozhnikov, executives for New York Business Group, a real estate brokerage firm, contracted with PropertyShark.com, a real estate data company, to build the bidding engine for the new company.