sheldon good

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

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

Once $40 Million, Mansion Sells For Deep Discount

by Deidre Woollard (RSS feed) —

Filed under: Estates

Sheldon Good & Company has announced the results of a the sale of the Lytle Mansion on Mercer Island in Washington state. We first started watching this home in 2005 when it was listed at a whopping $40 million. The three-story mansion on two acres was put up for sealed bid auction this year. The property sold for $12 million, one of the highest prices for a single-family estate home in the Northwest in 2010. "Our home had been on the market for almost four years without any significant buying interest. Selling had become a dilemma and we realized we had to take a more proactive approach," said Charles Lytle, President of Lytle Enterprises and owner of the Mercer Island estate in a press release.

This home has some incredible details. The indoor saltwater pool has a cloud mural and Egyptian-style columns that have been specially treated to look aged. A Dale Chihuly chandelier spiraling twelve feet of crystal hangs over a marble floor in the entry. The house is full of inlaid stones, marble fireplaces and everything is done on a grand and ornate scale. It has four bedrooms but with nearly 23,000 sq. feet of space much of the space is devoted to waking pursuits. There are two wine cellars, an exercise room, massage and tanning room, music room, steam room, sunroom and a dining room with a gleaming gold leaf ceiling. The master suite has a raised platform bed, a marble fireplace and a bathroom where the tub is set on a pedestal and has a chandelier over it. Outside there is a saltwater pool and 175 feet of waterfront including a boat dock that can accommodate a 140 foot yacht. No word on who the lucky new owner is.

Gallery: The Lytle Mansion

Tags: lytle mansion, LytleMansion, mercer island, sheldon good, washington real estate

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

Lytle Mansion, Once $40 Million, Now Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Estates, Auctions

Once upon a time (otherwise known as 2005), the Lytle Mansion on Mercer Island in Washington state was listed at a whopping $40 million. Even then it was a groaner of a price tag and one that made sure the home stayed on the market a long time. But those days are over because the three-story mansion on two acres is being put up for auction.

This home has some incredible details. The indoor saltwater pool has a cloud mural and Egyptian-style columns that have been specially treated to look aged. A Dale Chihuly chandelier spiraling twelve feet of crystal hangs over a marble floor in the entry. The house is full of inlaid stones, marble fireplaces and everything is done on a grand and ornate scale. It has four bedrooms but with nearly 23,000 sq. feet of space much of the space is devoted to waking pursuits. There are two wine cellars, an exercise room, massage and tanning room, music room, steam room, sunroom and a dining room with a gleaming gold leaf ceiling. The master suite has a raised platform bed, a marble fireplace and a bathroom where the tub is set on a pedestal and has a chandelier over it. Outside there is a saltwater pool and 175 feet of waterfront including a boat dock that can accommodate a 140 foot yacht.

The home is being offered for sale in a sealed bid auction by Sheldon Good & Company and will be sold subject to a qualified minimum bid of $15 million with a deadline of April 14, 2010. A bidder's information packet priced at $75 is a requirement for bidding, as well as a certified or cashier's check totaling five percent of the total bid.

UPDATE: This auction has now been extended to June 30.

Gallery: The Lytle Mansion

Tags: luxury real estate auction, LuxuryRealEstateAuction, lytle mansion, LytleMansion, mercer island, MercerIsland, sheldon good, SheldonGood

Pillsbury Estate To Be Sold At Auction

by Deidre Woollard (RSS feed) —

Filed under: Estates

When this estate first went up for sale for an astronomical $53.5 million in 2007 many wondered if it would sell. Two years have passed and now Southways, a Minnesota mansion on Lake Minnetonka will be sold at auction. The 32,400-square-foot-main house was designed in 1916-1918 by Harrie T. Lindberg and was used by the Pillsbury family until the early 1990s. On December 9, Sheldon Good & Company will offer the home for sale in a sealed bid auction. The 13 acre estate can be purchased in its entirety or as separate waterfront sites (five different parcels). The estate includes seven structures including a caretaker's cottage/greenhouse, garage, pool complex, smoke room and tea house. How much it will sells for is anyone's guess but I'd speculate it will be under half of the original asking price.

[Thanks, Spectacular Bid!]

Gallery: Southways Estate