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More Philadelphia Condos Up For Auction

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.

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

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