Categories: Atlanta, Downtown, Home Prices, Tribute Lofts
As planned, the auction to quickly reduce the remaining inventory at Tribute Lofts took place in one hour at the Omni Hotel at CNN Center. The highest price at the auction was a 1,306 square foot unit that went for $263,000 – a little over 30% less than the original asking price of $379,900.
The cheapest sale was $132,000 for a 795-square-foot one-bedroom unit that originally was priced at $183,900 — a discount of 28.2 percent. Minimum bid prices for the one-bedroom, one-bedroom-with-den and two-bedroom units ranged from $110,000 to $198,000.
Instead of 40 units being auctioned off, only 30 units were sent to the chopping block. Some people weren’t interested in the other 10 units. Probably due to their location and size.
Remaining are about 40 units at Tribute Lofts, which will all have their prices reduced as a result of the auction. What does this mean for you? Deals. What bargaining power buyers will have in purchasing the remaining inventory.
Categories: Atlanta, Condos, Downtown, Tribute Lofts
40 luxury condos at Tribute Lofts in downtown are going to be auctioned off next month. They are going to be selling for as low as $110,000. That is a huge savings from what people have paid to be in that building (a discount of about 34 percent to 54.5 percent). The building has only been open for less than one year. There are 147 condos in the complex and 68 have been sold. If you are looking for a loft, it’s a great time to purchase and save a bunch of money.
Tribute Lofts was awarded the Atlanta Downtown Design Excellence Awards in 2007. The lofts are located in downtown on the corner of Freedom Parkway and Boulevard. The auction takes place on Sunday, June 22 at 1:00 p.m. at the Omni Hotel at CNN Center.
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