Metairie Towers , the vacant condominium complex in the heart of Old Metairie, didn't sell during a two-day online auction in late September, with bids failing to reach the minimum amount that the building’s owner was seeking.

Developer Darren Aschaffenburg, who put the 50-year-old building up for auction earlier this summer after he was unable to secure financing for a pricey renovation, confirmed Monday that the auction didn’t bring in what he had hoped.

“But it may be a blessing in disguise,” Aschaffenburg said. “We are working on ways to fund the project and still move forward with the development.”

In October 2024 , Aschaffenburg paid $24.5 million for the 265,000-square-foot building, which has seven floors and sits on four acres on some of the most valuable real estate in Jeff

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