Condo Auction Planned In Philadelphia
Today's condo auction deal takes us to Philadelphia where 36 units of a major Center City condominium building, the Phoenix will be offered at auction on April 29. The units are mostly one-bedroom units with just a couple two-bedrooms up for bid. Minimum reserve prices will range from $185,000 to $415,000 on units priced between $344,900 to $639,900.
The April 29 date was chosen to allow last-minute buyers to take advantage of the federal tax credits, which require that agreements of sale be executed by April 30.The Philadelphia Inquirer reports that buyers who are eligible for a tax credit (up to $8,000 for qualified first-time buyers or up to $6,500 for repeat buyers who have not purchased a primary residence in less than five years) must close on the sales by June 30.
There area total of 267 units at the Phoenix. The 20-story Georgian Revival-style structure was built in 1925 and served as office space for more than 70 years before being first converted to rental units and then to luxury condos with large windows, gourmet kitchens with stainless steel appliances, granite countertops and hardwood floors. Building amenities include the large atrium with direct access to the Suburban Station Concourse, the Phoenix Salon & Spa , the Tir Na Nog Irish Bar & Grill, Starbucks and the Philadelphia Federal Credit Union. There is also a state-of-the-art fitness center, 24-hour professional concierge service and security, on-premise valet parking, wireless internet throughout common areas, The Phoenix Club, a rooftop terrace, and private dining and conference rooms.
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Reader Comments (Page 1 of 1)
Robert Peronne Apr 14th 2010 5:05PM
The Phoenix auction is a great opportunity for people looking to live in a luxury building in Center City Philadelphia but buying a condo at auction is not without some risks. You need proper representaion by a Realtor and an attorney. For detailed information on how to buy a condo in the Phoenis auction check out our featured story at PhillyCondo411. http://www.phillycondo411.com/the-phoenix/
There is another condo auction at Cu257. A 10 unit luxury building in Old City. That sale is scheduled for April 14th. For all the details go to http://www.phillycondo411.com/cu-257/