General Growth Properties is planning to auction off more than 40 high-end condominiums attached to an upscale Boston area shopping mall with minimum bids starting at $160,000, about 70 percent below previous asking prices./

General Growth, which filed for bankruptcy in April, hired a realty company to auction 42 units on Oct. 4 as a way to jump-start sales and get some desperately needed cash, the Boston Globe reported.
The 215-unit project, known as Nouvelle at Natick, opened last year and was supposed to usher in a new era of suburban living — marrying shopping and luxury — without the hassles and high prices of the city. But with only 37 of the residences sold or under contract, GGP opted to auction some of the units at cut-rate prices.
General Growth owns or manages several malls in Hawaii, including Ala Moana Center and Ward Centers.