The guy holding the gavel at the Fortress v. Cohen auction

Matthew Mannion is auctioneer to the stars of New York City real estate. He handled the Flatiron Building's two-parter, the Times Square Margaritaville's flameout and most recently the UCC auction of Cohen Realty Enterprises' interest in a potpourri of assets.

As foreclosure filings keep ticking up, Mannion shares stories from the courthouse steps and the inside scoop on how auctions get done.