FTX Bankruptcy Board Plans to Sell FTX’s 35 Bahamas Properties with Funds to be Distributed to FTX Customers

The Block reported that the FTX bankruptcy committee plans to sell 35 properties in the Bahamas, including the luxury apartment Orchid Penthouse where SBF and Gary Wang, Nishad Singh, and Caroline Ellison once lived together.FTX lawyers stated that the sale price of the properties must reach at least 80% of the estimated price specified by the designated broker. Any sale of properties exceeding $5 million must be reported to the US trustee, the creditors' committee lawyers, and interested parties who have made legitimate claims on the listed properties. The proceeds from the sale will be used to distribute to FTX customers.