Sabine On Fifth Complex, Eludes Foreclosure, Heads For Auction
More signs of condo fallout in Austin, Texas. A bunch of units from the Sabine on Fifth project will hit the auction block on February 28. The project, which is located in a 10-story former office building, escaped foreclosure after the owner CWS Capital Partners was given a loan extension. Auctioneer Kennedy Wilson will sell off 27 of the available 44 units (the building has 80 units total) with bids on one-bedroom units starting as low as $85,000 and two-bedroom starting at $195,000. The apartments were once listed near $204,900 and $550,000. Condo buyers will receive a one-year Tower Health Club and Spa membership and up to $1,500 in closing costs paid by the seller.