I called Bill the seller and we had a good conversation. Here is the deal. He purchased 4 KF's from a local guy . One he turned into a street rod, 2 were only good for parts, and there was this 49 Frazer. He saw no Manhattan badges.
But it has no rust out in the pans, the grille is nice and it is complete. The $500 is not an issue for me but trasnport costs to Iowa are. He stated he could hold it but is in the process of going out of business as a restoration/modification shop and rents the building so it would need to go before the building goes back to the owner.
$500 is basically crusher price. I own a 49 Kaiser and I still think the 49 Frazer was the best manifestation of the 1st series cars. Grille, dash and well integrated taillights sell me.
Great KF project, bad location in this economy.