condo auction

Condo Auction Puts Newly Built Condos Up For Sale For Bargain Prices

Filed under: Auctions, Real Estate Developments

More and more we are seeing condos go up for auction as soon as they are completed. Sheldon Good and Company is auctioning off a selection of 20 luxury residences located at The Gate Condominium, a newly constructed state-of-the-art building in The Bergen County borough of Rutherford, New Jersey on Saturday, November 20th. A total of eight units are to be sold "Absolute," regardless of price.

The Gate Condominium is a luxury development in northern New Jersey with units that were originally priced to $579,000. Units have hardwood floors, high ceilings, GE stainless steel appliances, granite countertops and large balconies. The one and two bedroom units will be auctioned off with suggested opening bids as low as $145,000.
"
Since this is a 'Grand Opening Auction,' buyers will have the unique opportunity to bid on and purchase a home in a beautiful, brand new luxury building at their desired price," said Jeff Hubbard, Executive Managing Director of Sheldon Good & Company. "Now more than ever before developers around the country are utilizing the auction process as a strategic part of their overall marketing plan at various stages of the development process. The developer of The Gate is utilizing the process in order to sell out all 20 units available in a single day, eliminating the carry costs associated with a conventional sales program, while passing along those savings to the consumer," said Hubbard.

The Gates Condo Auction website has complete details.

The Gate development is located at 17 Meadow Road, just one block from the 190 bus and the Rutherford Station on the New Jersey Transit Bergen Line with direct train access to midtown Manhattan.

Gallery: The Gate Condominiums

Tags: condo, condo auction, condominium, condominium auction, condominiums, condominiums for sale, new jersey real estate, Rutherford B. Hayes, sheldon good

New Condos Up For Auction in Westchester County

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

The Westchester County New York town of Ossining-on-Hudson is the site of the latest condo auction. Condominiums in the Orchid Condominiums will be auctioned off by Sheldon Good & Company on November 21 for prices starting at $175,000. There are a total of 23 luxury condominium homes in the recently-completed, four-story Orchid Condominium building in the heart of historic Ossining.
Eight residences will be sold subject to low minimum bids starting at just $175,000 for one-bedroom condominiums and $225,000 for two and three-bedroom designs. The homes were originally priced from $399,000 to $599,000. The original building was erected in 1938 by the Cambridge Instrument Company and has a red brick façade. Units have bamboo hardwood flooring and modern kitchens with contemporary cabinets in cherry-wood finish, granite countertops and stainless steel appliances. Many residences also have spacious patios or terraces.

The auction will take place at the Crown Plaza White Plains located at 66 Hale Avenue, White Plains, New York. Interested buyers can view the available homes and furnished model residences during pre-auction Open Houses on Saturdays and Sundays from 11am to 2pm starting October 23rd and 24th and every weekend up until the November 21st auction.

"We initially looked to launch a conventional sales program earlier this year, but decided to finish the building first and sell all of the homes in one day through a competitive bidding auction event," notes Ricky Aryeh, a principal of Lionheart Enterprises, Ltd., the Orchid's developer.

Tags: condo auction, condominium, ossining, sheldon good, westchester county

Oasis Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

A total of 125 condos from a single building will hit the market in Fort Meyers, Florida. Oasis Associates, LLC, the new owner of luxury condominium Oasis building, announced a public auction of 125 brand new waterfront condominiums to be held November 20 in the Harborside Convention Center,Fort Myers, Florida.

The units in the 32-story high-rise condominium building will be offered at up to a 60 percent discount off of the original price. Oasis condos were once priced as high as $700,000 but now pre-auction prices start at $160,000. At least 40 of the units will be sold at "absolute auction," wherein the condos will go to the highest bidders regardless of price.

Oasis is located in a gated community and amenities include an on-site marina, a one and a half acre waterfront pool deck with heated pools and spas, fitness center, clubroom, etc. Units have waterfront views, floor-to-ceiling windows and expansive private terraces. Interior details include eat-in kitchens with italian cabinetry, granite countertops and a master bath with Kohler fixtures.

The Related Group, the original developer of Oasis, will manage the project.

Tags: condo auction, florida real estate, fort myers, oasis condos

Luxury Condos Up For Auction In Annapolis

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Another big condo event is scheduled for Maryland. As many as 30 units at the GrandView at Annapolis Towne Centre will be auctioned off on November 14. Units that were priced from $415,000 to $995,000 will be sold at 60 to 70 percent off recent asking prices. A condo last priced at $995,000 has a minimum bid of $308,00 while a condo last priced at $415,000 will have a low minimum bid of $148,500. Condo fees range from approximately $275 to $600 per month. Auctioneer Sheldon Good & Co. says the builder and its lenders will sell at least 10 units if they get bids at least as high as the minimum. According to a post in the Baltimore Sun, two-thirds of the 150-unit building is empty.The auctioneers will take sealed bids on three of the 10 penthouse units with current asking prices of just under $1.2 million to just over $1.7 million.

Tags: annapolis, condo auction, grandview at annapolis towne centre, maryland real estate, sheldon good

Olive 8 Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

The last time I mentioned the Olive 8 condo complex in Seattle was in 2008 when the developer offered prospective buyers a price guarantee. Now on September 19, 34 condos in the building will be auctioned off in a sale conducted by Kennedy Wilson.

The 34 condominiums are located above the downtown Hyatt at Olive 8 and were previously priced from $395,000 to $1,235,000 with five of the 34 condominiums previously listed at over one million dollars each. Starting bids at the September 19th auction will range from $160,000 to $440,000 with all five million-dollar-plus condos included in the bidding.

The one- and two-bedroom condos at Olive 8 have up to 1,586 sq ft of living space and share the Hyatt's amenities including room service and housekeeping. Residents-only amenities include a 24-hour concierge, access to the Club Lounge and outdoor terrace, billiards and entertainment rooms, and a dog run. Units have hardwood flooring, glass walls, modern kitchens and bathrooms with deep soaking tubs. The 34 condominiums up for auction are situated between the 18th and 26th floors. The auction is offering a special incentive of $5,000 toward closing costs to those who who obtain financing through Bank of America Home Loans and Wells Fargo Home Mortgage and close escrow within 45 calendar days of the auction.

[Seattle Post-Intelligencer]

Tags: condo auction, olive 8, seattle real estate, washington real estate

Los Angeles Area Condos and Townhomes Head For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

A pair of Los Angeles-area condos are getting their turn on the auction block on July 11 when Kennedy Wilson offers 30 condos from two different projects. The first auction will be for 12 townhouses and flats at Vista del Arroyo in Pasadena and then several hours later, 18 courtyard condos at Silver Spur Court in Rolling Hills Estates will go up for sale. Both auction represent deep discounts over original list prices.

Starting bids at Vista del Arroyo are set as low as $295,000 on 12 condos previously priced from $799,000 to $1,350,000. The one to three bedroom townhouses and condos up for auction provide from 2,041 to 3,585 sq. ft. of living space. The Vista del Arroyo project is located near Old Town Pasadena and the Norton Simon museum.

At Silver Spur Court the starting bids range from $275,000 to $495,000 on 18 townhouses and condos previously priced from $835,000 to $1,275,000. The two and three bedroom homes have up to 2,830 sq. ft. of living space.

Tags: condo auction, los angeles, pasadena, rolling hills estates

Baltimore Townhouses Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Want a waterfront townhouse in Baltimore, Maryland at a deep discount? Then June 28 is your day, that's when 11 townhouses at Pier Homes at HarborView go up for auction for as much as 75 percent off list price. The Baltimore Sun's Jamie Smith Hopkins writes that the auction could send shockwaves through the high-end real estate market in the area.

The units up for sale through Accelerated Marketing Partners have minimum bids as low as $329,000 on homes that were once on the market for over $1 million. Residences have hardwood floors, granite countertops, whirlpool tubs and rooftop decks. The community has a cafe, private marina, health club and two swimming pools.

Tags: baltimore, condo auction, maryland real estate

Luxury Condos Up For Auction In Galveston

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

I've written about the Palisade Palms project in Galveston since 2008. Back then, all aflush with condo optimism, the two towers on Galveston Island were selling for $500,000 - $1.6 million. Flash forward to now and have we got a deal for you. On June 6, 27 condos will be auctioned off in an "inventory reduction" that has sellers naming their own price.

Prior to Hurricane Ike the condos were selling briskly but after the hurricane and the subsequent real estate slump sales slowed to a crawl. The Kennedy Wilson Auction Group is running the sale and starting bids will range from $125,000 to $375,000. The two towers have panoramic views over the Gulf of Mexico and amenities include two pool areas with spa hot tubs, a plaza deck with a fire pit, fitness center, tennis court, media lounge, private party room, gazebo, concierge service and more.

[via KHOU]

Tags: condo auction, galveston, galveston island, palisade palms, texas real estate

Continue reading “Luxury Condos Up For Auction In Galveston”

Second-Home Condos Up For Auction In North Carolina

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Our never-ending quest for condo auctions takes us to Banner Elk, North Carolina where, on June 5, the final 18 mountainside residences at The Lodges at Elkmont will go up for sale. The Lodges at Elkmont is a a 56-unit luxury condominium community set in the Blue Ridge Mountains. The units will be sold at a developer close-out auction by Sheldon Good & Company.

The auction company says this is the first second-home real estate auction to take place in the North Carolina marketplace. The 18 units are luxury mountain retreats set in the heart of the High Country and located only two hours from both Charlotte and Greensboro and three hours from Raleigh. There are five floorplans with two or three bedrooms and approximately 1,200 to 2,350 square feet of space. Homes have vaulted ceilings, stone fireplaces, oak floors, designer kitchens and covered decks. The minimum bids from $125,000 are up to 74% below the original asking prices, which ranged as high as $771,000. Eight homes are guaranteed to be sold subject to minimum bids.

The auction will be held on June 5th at the Embassy Suites Hotel at the Greensboro Airport Registration begins at 11am with the auction commencing at noon. Homes offered at the auction may be viewed on May 8th-9th, 15th-16th, 22nd -23 rd and 29th - 31st, from 11am to 3pm.

Tags: condo auction, lodges at elkmont, north carolina, second home auction, sheldon good

Savannah Condos Up For Auction

by Rigel Celeste (RSS feed) —

Filed under: Estates, Auctions

Next month a group of luxury condos in the heart of the deep south, beautiful Savannah GA, will be going up for auction. There are 11 units total, 7 located at Jones Square in the Historic District and 4 at East Broad Place. The Jones group homes are rich in architectural details like 10 ft ceilings, decorative crown moldings, heart pine floors, luxury spa bathrooms, and private balconies while the East Board Place units have exposed brick walls, hardwood floors, and are conveniently located for access to islands, beaches, and the Savannah College of Art and Design.

The auction will take place on May 6h at Trustees' Garden at 10 E. Broad Street and according to National Auction Group 2 of the Jones Square properties are set to be sold regardless of price.

Source

Tags: auction, condo, condo auction, condos, georgia real estate, real estate, savannah

More Philadelphia Condos Up For Auction

by Rigel Celeste (RSS feed) —

Filed under: Auctions, Real Estate Developments

After a long and drawn out history of bad luck and bad timing the 10-unit condo project dubbed Cu257 in Philadelphia has finally been finished. Unfortunately the building took so long and went through so much turmoil on its way to completion that it missed its 'window' and interest in it has all but disappeared, leading the bank to put the nine remaining unsold units up for auction next month for a deep discount. The auction will take place at 1pm on May 15th at the Hilton Philadelphia Airport Hotel with minimum bids set at $200,000 for each of the two penthouses (previously listed for $1.2 million) and $95,000 for the 7 condos ($698,400-871,255). If interested sign up and get an information package at maxspann.com.

Source

Tags: auction, condo, condo auction, condominium, cu257 condo project, max spann, pennsylvania, philadelphia, real estate

30 Luxury Properties Up For Auction In Park City, Utah

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

We've seen a rash of condo and luxury home auctions in the Park City, Utah area before but nothing like this. On May 1 30 luxury properties ranging from condos to land to luxury homes will be sold in an auction conducted by U.S. Auctions & Realty. Among the properties is the one that once belonged to cookie queen Mrs. Fields. The 24,000 square foot home is on 51 acres in Wolf Creek Ranch. The press release doesn't mince words saying that "the bank is willing to take whatever they can get." The mansion was appraised at $3.8 million and has a current starting bid of $1.6 million.

Should the cookie palace not interest you, you could score 61 acres adjacent to Mitt Romney's former home in Deer Valley or how about 9,300 square foot winter wonderland where Paris Hilton stayed while playing in Park City? In total five properties are being sold "absolute," meaning that they will sell regardless of the final bid price.

Franz Prossegger, a developer, originally listed his home for more than $8 million, and now the starting bid is $2.995 million. When asked why he chose to put his 8,300 square foot new home in Deer Valley (the site of a recent Hollywood movie) into the auction, Prossegger said, "I like the extra exposure the auction method brings. The right buyer will find this property and will get a great deal through the auction."

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Tags: auction, condo auction, luxury home auction, luxury housing real estate, park city, utah

New Jersey Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

Condos with a New York City view are being auctioned off in New Jersey this weekend. The developers of the 19-story Altessa Condominiums in Union City are auctioning 41 one-, two-, and three-bedroom units on Saturday at the Hilton Hasbrouck Heights/Meadowlands. The auction is being run by Max Spann and minimum bids start at $95,000 for smaller one or two-bedroom apartments. Larger two and three bedroom units have a minimum bid of $125,000. Prices for units originally ranged from $295,000 to $489,000.

The units have gourmet kitchens with stainless steel appliances and granite countertops and the bathrooms have Kohler fixtures and spa tubs. Each unit has a washer and dryer. The condos have some nice amenities. There is a large rooftop deck with a pool, community kitchen and running track all with views of the New York City skyline. The building also has a residents' only gym with wet and dry sauna plus men's and women's locker rooms. There is a 24-hour doorman and two elevators. Altessa is linked to PATH Trains by free shuttle service directly from the building.

Properties will be sold through Bidder's Choice. At the end of each round of bidding, the winning bidder chooses their favorite property from the remaining inventory. The first five units from each of the two price groupings are guaranteed to be sold at the minimum bid or higher but subsequent units will be subject to seller's confirmation.

[via NJ.com]

Tags: altessa, condo auction, max spann, new jersey, union city

Condo Auction Planned In Philadelphia

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

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.

Tags: condo auction, condominiums, philadelphia, phoenix

Clocktower Condos Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

Condo auctions, you know I love them. The latest takes us to Norwalk, Connecticut and a former hat factory that has been converted into residential condos. Nine units at Clocktower Close will be up for auction on Saturday, April 17 through Sheldon Good & Company. Four of the studio and one-bedroom condos offered will be sold subject to low minimum bids of $99,000 to $150,000 (they were originally priced from $155,000 to $350,000). The two-bedroom unit has a reserve price.

The Clocktower building is a classic example of brick New England mill architecture popular during the late 19th century. Many of these mills and factories in Massachusetts, Connecticut and Rhode Island have now been converted into condos. This building has a place on the National Register of Historic Places. The residences have large windows and lofted ceilings up to 20'+ with exposed brick walls and timber-beamed ceilings. The building includes a fitness center with sauna, billiard and media room.

[via News Times]

Tags: clocktower close, condo auction, condos, connecticut, norwalk

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