NEW YORK CITY-A foreclosure auction on Peter Cooper Village andStuyvesant Town that was to be held Monday won’t happen until atleast the middle of next week. The new date for the auction, to beheld under the direction of court-appointed referee MelanieCyganowski, is Wednesday, Oct. 13, according to documents filedMonday at US District Court in Manhattan. No explanation for thepostponement was offered in court papers.

When the auction takes place, it will be under the auspices ofthe senior debt holders, rather than the partnership that bought$300 million of senior mezzanine debt on the 80-acre multifamilycomplex for $45 million this past August. Known as PSW NYC LLC, thepartnership of William Ackman’s Pershing Square Capital Managementand Winthrop Realty Trust attempted to foreclose on the mezz debt,but suffered a series of judicial setbacks culminating in anAppellate Division court’s refusal last week to stay the seniordebt holders’ plans.

Prior to Monday’s postponement, Bloomberg and other mediaoutlets had suggested that CWCapital was getting ready to taketitle, assuming the absence of any bidders willing to pay more thanthe $3-billion face value of the mortgage. However, publishedreports on Monday said that CWCapital Asset Management, which isrepresenting Bank of America and other senior mortgage holders, hadmet with PSW this past Friday and was working toward a settlementwith the partnership.