Tribute Lofts Auction & Sells 30 Units
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.
Kevin Grieco
kevin@atlantaskyrise.com
Thank you for visiting my condo blog! I’m thrilled to share my passion for Atlanta’s condo market with you. I prioritize delivering honest and insightful content that reflects my commitment to integrity and transparency. I am dedicated to providing you with comprehensive information, fun stories, beautiful photography and of course, gorgeous properties. While comments are currently turned off, I encourage you to get in touch with me directly. If you have any story ideas, tips to share, or simply want to chat about the market, I’m here to listen and help. Your feedback and suggestions are always welcome, as they help me create content that is both relevant and enjoyable for you. Feel free to reach out anytime. I look forward to connecting with you!
