Seized Gated Estate in Coral Gable Florida to be Offered at One of Many U.S. Treasury Dept. Public Auctions

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The Dept. of the Treasury, CWS Marketing Group and EG&G Technical Services have a public/private partnership to manage the custody and disposal of federally seized property in a cost effective manner.

A seized gated estate in Coral Gables will be open to the public for preview on Sunday Feb. 24 and March 2 from 1-4 pm before it is sold at public auction by the Department of the Treasury on Tuesday March 4, 2008.

The three-bedroom 3.5 bath home is located at 1250 SW 57th Avenue in Coral Gables, Florida. The 4,574 sq. ft. home sits on 2+ acres in a gated community. The home features a screened atrium, covered patio, pool with spa, is professional landscaped with a koi pond, circular driveway and attached 2-car garage. Amenities include a 2-sided fireplace, built-in custom cabinetry, updated kitchen, and hardwood floors. The house also features a 1,092 sq. ft. 2 bedroom guest house.

The public auction will be held onsite on March 4 at 10:00 A.M. Bidder registration begins at 9:00 A.M. Prospective buyers will need a cashier's check for $100,000 payable to EG&G Tech Services and a photo ID in order to bid. For a virtual tour and further details, visit the Treasury web site at http://www.treas.gov/auctions/treasury/rp

The Department of the Treasury, EG&G Technical Services and CWS Marketing Group have a public/private partnership to manage the custody and disposal of federally seized property in a cost-effective manner. EG&G Technical Services and CWS Marketing Group are responsible for the sale of commercial and residential real estate that has been forfeited or seized by the following Agencies: the U.S. Treasury Department, IRS- Immigration and Customs Enforcement, and the U.S. Secret Service. All proceeds from the sale of real property are deposited in the U.S. Treasury Asset Forfeiture Fund, which was created by Congress in 1992, to hold deposits of seized currency and revenues from the sale and remission of forfeited property. These funds help support continued law enforcement efforts and provide restitution to crime victims.

Approximately 100 commercial and residential real estate auctions are conducted each year in the United States and Puerto Rico. Auctions are normally held onsite at the property location. Real Property sold at Treasury auctions comes from serious offenses such as drug smuggling, money laundering, credit card fraud, child pornography.

Information on upcoming real estate auctions can be found at http://www.treas.gov/auctions/treasury/rp

Inquires should be directed to Tim Minoughan of CWS Marketing Group at http://www.cwsmarketing.com

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