Investors who were burned by the technology bubble can take heart, The New York Post reports. Amerindo Investment Advisors President and Metropolitan Opera philanthropist Alberto Vilar, who was once worth $900 million largely due to his technology funds, is having to auction off his duplex at 860 UN Plaza to offset $5 million in debt.

Citibank is handling the auction this coming Wednesday at the State Supreme Court in Manhattan this coming Wednesday. The sale comes on the heels of three foreclosures of properties Vilar owned in Colorado this past March.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.