CondoAuction

Seattle Condos Up For Auction

You can pick up more condos at a discount at an upcoming auction in Seattle. Up for bid are 18 units at the 5th and Madison Street condos located downtown. The units will be auctioned off March 28 at the Grand Hyatt Seattle. There are some decent deals inside the 24-story project. Bids start at $235,000 for units once costing $550,000. The list tops out with a two-bedroom penthouse originally listed at nearly $2 million that will start at $995,000. Building amenities include a concierge, fitness center, guest suite, club room, garden terrace and dog walk. The development has also been praised for its eco-friendly features including the use of recycled construction materials, a system for controlling rainwater run-off and the use of air filtration systems. It was chosen as one of Natural Home magazine's Top 10 green condo projects.

Tags: condo auction, CondoAuction, condominium auction, CondominiumAuction, green condos, GreenCondos, seattle

Condos For Auction in the Outer Banks

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

ore oceanfront condos are headed for auction. This time we are zooming over to Nags Head, North Carolina for 20 condos which will be auctioned off on March 27. The Landings at Sugar Creek condominiums overlook Roanoke Sound and offer sunset views with ocean views from the higher units and a walk to Nags Head Beach. The condos are being sold absolute and there are 13 different floorplans with two to four bedrooms each. Units have granite kitchen countertops, private terraces and access to the dock, pool and clubhouse.

Tags: condo auction, CondoAuction, condos, nags head, NagsHead, north carolina, NorthCarolina, outer banks, OuterBanks, sugar creek, SugarCreek

Condo Auction Face Off To Take Place In Maryland

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

We've seen a lot of condo auctions recently but a condo war of dueling condo auctions is a new one. Two condo auctions will be held later this month for units in an Ocean City, Maryland complex. There will be two separate auctions because of a fractured real estate partnership. The Bahia I and Bahia Vista II are two buildings that are bayfront and bayview and many units have private balconies. After the partnership ended one owner, Spiro Buas, ended up with 11 units which he plans to sell at an auction on February 27. The units will be auctioned off by Marshall Auctions. Some units come with boatslips. Ther will be no minimum prices on four of the condos, some which were listed as high as $800,000. Also on the same day, and at the same time, Max Spann Real Estate will auction off nine codnos in the Bahia Vista I building. Bids start as low as $95,000 for condos that were once listed as high as $730,000. It's a bit of a bizarre situation but one that should be a benefit to potential buyers looking for a deal.

Tags: bahia vista condos, BahiaVistaCondos, condo auction, CondoAuction, maryland, ocean city, OceanCity

More Condos Up For Auction In Park City

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

Fast on the heels of a recent auction in Park City, Utah, a new larger auction has been announced. Westgate Resorts will hold an auction for 44 condominium residences at The Lodge at Westgate Park City Resort & Spa, a development in the heart of The Canyons, resort in Park City, Utah. The event will be held on March 28, 2010 and minimum bids for the homes will range from $149,000 to $995,000, up to 56 percent below last asking prices. Advance registration for the auction is required and on-site conventional financing is available. There are no hidden reserves or buyer's premiums.

The new 488-unit project offers amenities and services at The Lodge at Westgate Park City Resort & Spa, including 24-hour concierge service and personal valet service to and from the The Canyons lifts, as well as a full-service, on-site ski and bike shop with private storage lockers and lounge area. The resort also has three pools, including an adults-only indoor relaxation pool and Utah's largest indoor/outdoor resort pool. The Serenity Spa by Westgate has an indoor grotto, lounges and 17 private treatment rooms; indoor/outdoor pool with sauna, steam room and Jacuzzi; fitness center with dance studio, and basketball and tennis courts. The development also has a business and conference center, library and laundry room and dining at the Westgate bar and restaurant, and on-site marketplace and deli. There is also the Westgate Kid's Club providing daily activities for children supervised by a professional staff, video arcade and a playground.

The units in the auction include 11 studio homes ranging in size from 360 square feet to 635 square feet, with minimum bids ranging from $149,000 to $249,000. There are 14 one-bedroom homes ranging in size from 775 square feet to 895 square feet, with minimum bids ranging from $295,000 to $339,000. The 14 two-bedroom, two bath homes range in size from 1,126 square feet to 1,135 square feet and have with minimum bids of $449,000. The largest homes are five four-bedroom homes ranging in size from 1,652 square feet to 2,150 square feet, with minimum bids ranging from $795,000 to $995,000. All residences are fully furnished and have balconies or decks with panoramic views of the Wasatch Mountain range.

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Tags: condo auction, CondoAuction, park city, ParkCity, ski condo auction, SkiCondoAuction, utah

Condos Go On The Block In St. Petersburg

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

More condos are hitting the auction block in Florida. Accelerated Marketing Partners has announced an auction for 35 bayfront condominium residences at Signature Place in St. Petersburg, Florida. The auction will be held on March 7 at The Hilton St. Petersburg Bayfront hotel. Minimum bids for the residences range from $135,000 to $430,000 and represent a 65 percent price reduction below the last asking prices.

The 36-story, 244-unit Signature Place has a street-level plaza featuring the world's largest water wall spanning 64 feet of black granite. A sixth-floor sky garden has bay views, residents' lounge area, private cabanas, sleek vanishing-edge lap pool, putting green, state-of-the-art fitness center, lawn, and Tai Chi/Sculpture garden. Other amenities include 24-hour concierge and security; high-speed gearless elevators; media and social rooms that give residents additional living space with catering kitchen, bar area and flat screen televisions. The residences have floor-to-ceiling windows, many of which possess panoramic water views. The kitchens have built-in under-cabinet halogen lighting, quartz slab countertops and stainless steel appliance packages.

An article in the St. Petersburg Times has an interview with developer Joel Cantor. His lender Fifth Third Bank is behind the auction, a move that he thinks was premature. The president of Accelerated Marketing Partners believes the auction will actually help sell the other remaining condos by re-calibrating real estate prices and establishing value for the units. Some people who already own units in the building worry that the new lower prices may impact the value of their units, others are just happy that the condo units will be full because then there will be owners to pay into the building's homeowners association fees.

Tags: condo auction, CondoAuction, condominiums, florida, signature place, SignaturePlace, St Petersburg, StPetersburg

Sabine On Fifth Complex, Eludes Foreclosure, Heads For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

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.

Tags: austin, condo, condo auction, CondoAuction, sabine on fifth, SabineOnFifth, texas

Florida Beachfront Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Care for a beachfront condo? Have we got a deal for you. Accelerated Marketing Partners has announced their latest auction-- 21 condominiums at Coconut Grove Residences in Fort Lauderdale, Florida. The auction will be held on February 28 with minimum bids for the homes ranging from $260,000 to $1.7 million, prices the company says are 57 percent below the last asking prices, although still pretty high for the area currently.

The Coconut Grove Residences project is a boutique residential condominium developed by CGD, LLC of Fort Lauderdale. The 14-story tower has 63 condos with a variety of floor plans. Residences have travertine flooring, granite countertops and laundry rooms in each unit. Development amenities include a 90-foot heated swimming pool, 11 beachfront cabanas, on-site Cybex fitness center and media room, key-operated elevators, and resident discounts to spa and other services at the neighboring Marriott Harbor Beach.

The 21 condos available at the February 28 auction include one-bedroom units, two-bedroom units, three-bedroom units and the highest priced property, a three-bedroom-plus-media-room condominium which is 5,195 square feet and has a minimum bid of $1.7 million, 49 percent below the last asking price. Advance registration for the auction is required. The project is Fannie Mae approved and conventional financing is available as well.

Tags: coconut grove, CoconutGrove, condo auction, CondoAuction, condos, florida condo auction, FloridaCondoAuction

Park City Ski Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Eight prime ski-in/ski-out condos in Park City, Utah will hit the auction block in January. The Silver Strike Lodge at Empire Pass will be auctioned off January 17. According to ParkRecord.com, developer Matt Mullin of Ironwood Resort Development says the auction is marketing strategy designed to help bring a market correction to the downward trend in ski real estate. There are 34 units in the ski-in/ski-out condo hotel and although almost half the units sold when the project was launched in 2006, there are still 19 unsold units. Mullin insists that it the sale is not a foreclosure or liquidation sale and is not an attempt to dump the property.

The units qualify for Talisker Club Membership. Accelerated Marketing Partners, is conducting the auction and has created a designated website for the event. Minimum bids are set very high. A two-bedroom unit measuring 1,689 square feet has a minimum bid of $1.15 million and prices go up from there.

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Tags: condo auction, CondoAuction, condominium, park city, ParkCity, utah

Floridan Condo Building Heads For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

It may be named The Floridian but the condo building shown at right is actually on Florida Avenue near Howard University in Washington D.C. It's also facing foreclosure. The 118-unit building is being foreclosed even though more than 30 units are occupied by owners and around 50 more units could have been sold. Kady Development bought the land in 2006 for $8 million and then borrowed $44.8 million in loans from LaSalle Bank to build the loft-style condos which are in two towers and are outfitted with granite counters and stone tile baths. Prices started in the low $300,000s.

Bank of America filed the notice of foreclosure on December 8. The Washington Business Journal reports that a third-party investor purchased the note from the bank and is proceeding with the foreclosure. The foreclosure auction is scheduled for January 8 at Alex Cooper Auctioneers Inc. and the balance on the note is $31.8 million.

Tags: condo auction, condo foreclosure, CondoAuction, CondoForeclosure, howard university, HowardUniversity, the floridan, TheFloridan, washington dc, WashingtonDc

Luxury Homes And Condos Up For Auction In Dallas

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Luxury homes and condos continue to hit the auction block. In the Dallas area, homes and condos which once were priced over $1 million will be available at bargain prices during an auction on November 7. Fifteen luxury homes in McKinney's Craig Ranch area and 29 high-end condominiums in Dallas' Preston Hollow neighborhood will be auctioned by the Kennedy Wilson Auction Group. Bidding on the homes will start at $125,000 to $370,000 and starting bids for the condos in Park Hollow, in the Preston Hollow area, will range from $215,000 to $495,000. The auction will take place at the at the Hilton Anatole in Dallas and Kennedy Wilson is holding informational meetings in advance of the event.

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Tags: auctions, condo auction, CondoAuction, dallas, luxury home auction, LuxuryHomeAuction, real estate auctions, RealEstateAuctions, texas

Nouvelle At Natick To Go Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

More and more I'm seeing real estate projects that I wrote about several years ago hit the auction block. When we first saw Nouvelle at Natick in Natick, Massachusetts it was part of a trend of condominiums attached to retail space. Nouvelle at Natick is a 215-unit development, attached to the former Natick Mall, now renamed the Natick Collection and packed with stores like Neiman Marcus , Louis Vuitton , Tiffany, BCBG , and will also include Burberry , Juicy Couture and Nordstrom in Massachusetts. Things have shifted dramatically since 2007 and bankrupt mall operator General Growth Properties is seeking to unload the condo units at bargain basement prices. In 2007 prices ranged from $425,000 to $1.6 million for a penthouse. At an auction to be run by Accelerated Marketing Partners on October 4 minimum bids will start at $160,000.

Of the original 215 units only 27 sold or are under contract. The auction will include 42 units auction of 42 units on Oct. 4 as a way to jump-start sales and get some desperately needed cash. The Boston Globe quotes Jon Gollinger, East Coast chief executive and cofounder of AMP, as saying that the auction will determine the value for the remaining residences. Condo amenities include a 1.2-acre rooftop garden, Parc Nouvelle, which is the largest of its kind in New England, Club Nouvelle, a private club with a dining area and a library and the Bosse Fitness Center. Sadly, the main selling feature, easy access to the mall, is no longer the draw it once was as malls have gone from bustling centers of commerce to increasingly empty spaces in today's shopping averse climate.

UPDATE: 55 of Nouvelle at Natick's remaining 178 luxury condos sold at auction for 36 to 64 percent off the original asking prices for the condos. The Boston Globe reports that one penthouse suite sold for $626,000, more than $1 million less than its original price.

Source

Tags: auction, condo auction, CondoAuction, condominiums, masachusetts, nouvelle at natick, NouvelleAtNatick

Auctions Scheduled For Condos In Disney Town

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The Disney-planned community of Celebration, Florida is the latest site of a condominium auction. The picture-perfect town seeks to replicate an idealized slice of small town American life but like most Florida towns it has become a victim of the real estate crisis. Now 27 condominium homes in the Artisan Park complex at Celebration which were once listed from prices of $480,000 to $600,000 will be auctioned off with suggested opening bid of just $95,000. The auction starts at 10 a.m on August 1 at the Celebration Hotel. Some units have a waterfront view and the complex includes a clubhouse with a swimming pool, cabana and restaurants all amid Celebration's cookie-cutter perfection.

[via The Ledger]

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Tags: celebration, celebration florida, CelebrationFlorida, condo, condo auction, CondoAuction, condominiums for sale, CondominiumsForSale, disney, florida

Maryland Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

You can get a great deal on a condo in Maryland at the end of the month. Max Spann Real Estate & Auction Company will be holding the auction of 28 waterfront condominiums at The Residences of River Marsh on Sunday, May 31, 2009, at the Loews Annapolis Hotel. The new two bedroom units at the community in Cambridge, Maryland have minimum bids starting at $75,000, which is over 75 percent off the previous asking prices from $755,685. The Residences at River Marsh complex also has a marina with 150 boat slips, 18 hole championship golf and more. Previews of the properties are happening from 11:00 am to 2:00 pm on Saturday and Sunday throughout the month of May.

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Tags: condo auction, CondoAuction, condominium, condos, maryland

Panama Beach City Condo Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

If the current real estate trend keeps going, I just might have to start doing a real estate auction of the day. For now though let me just direct you to today's auction of the Palazzo Condominiums in Panama City Beach, Florida. The seven-month-old condos are located on Front Beach Road facing the Gulf of Mexico. There are 129 units in the building and 67 units will be up for sale today with 27 that will be sold absolute.

The building has a fitness center, tropical pool, conference room and covered gulf side parking. The units include crown molding, and granite kitchen countertops, new appliances, garden tub and separate showers in all units and ceiling fans in living areas and master bedroom suites. To bid on a one-bedroom unit a check for $15,000 is required, two bedrooms require a $25,000 check and three bedrooms, a $35,000 initial investment. Those not in the area can also bid online this morning.

[via WJHG]

Gallery: Palazzo Condo Auction