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.
What are the prices for the remaining condos. Does anyone know?
John, If you send me am email, I’ll send you the listing information. If you are just looking for general information, I can post it here. I will tell you the prices range from $174,900 – $520,000 depending on the floor/view/size.
I think on the tribute lofts website they have updated the prices and a 1 bedroom’s asking prices is 139,000. If you know any other info, please email me. hapshey_usa@yahoo.com
Pricing now starts in the $130s for a 795sf 1BR.
How do you hear about these auctions?
It was all over, in addition to receiving information through my real estate office.