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Another auction

Mark your calendar for April 28, when 41 of 53 condos at the Audubon Park complex in the Fenway are scheduled to go on the foreclosure auction block.

The owner, 16 Miner Street LLC, apparently defaulted on construction loans. It was just a tough time to sell condos in a so-called “pioneer” area of the city, the article makes clear.

There are probably going to be some good deals at the auction, so stay tuned.

Update: Banker & Tradesman is telling me that the 16 Miner Street auction will not be sold on a unit by unit basis, but sold together in bulk to an investor. It’s still an auction, just not a typical auction.

Photo: Banker and Tradesman

Read other posts about: Fenway condos

17 Responses to “Another auction” »»

  1. Comment by John Ford | 03/31/10 at 10:25 am

    Scott, first I would like to thank you for reading my blog. I always encourage readers to participate in the conversations by leaving comments, as I welcome them very much. Unfortunately, I decided to delete your last comment because I thought it was inappropriate. I hope you can respect my decision and I do encourage you to feel free to leave comments in the future.

  2. Cam
    Comment by Cam | 03/31/10 at 3:22 pm

    Hummm… Another failed project with ties to Kevin Ahearn. Does anyone see a connection? Ahearn sell the client on huge sales numbers and collects his fees month after month. I hear Fox fired Ahearn after he had enough of his BS.

  3. Comment by John Ford | 03/31/10 at 3:50 pm

    Cam, let me just say this, I really don’t know Kevin Ahearn, I met him only once at the W. I’m not in a position to defend him, but with that said, I don’t like comments such as “I hear Fox fired him.” I would like you to tell us a fact not a rumour when making comments about an individuals character. In other words, and this includes me, let us all agree not to attack an individual without being able to back it up with facts not just hear say.

    Just my thought. Do you agree?

  4. Comment by Scott | 04/01/10 at 4:00 am

    It is a fact that Fox fired O&A for the AP project, it was in the papers. They were replaced by Chobee Hoy. I can’t find any record of it now, but I’m willing to bet I’m right.

    But seriously, John, this Audubon Park project was a bang up idea. I’m sure the owner of the one unit that got sold LOVES IT! In fact you said in your 2/28/08 post: “The prices at Audubon Park, on the other hand, are much more manageable, and are a good option for buyers looking for new.”

    Woof, how does that crow taste?

    Let’s look at some of AP’s best selling points:

    Half the building over the D line shouldn’t be a problem. When I looked at the units on a beautiful day they had all the windows closed. I opened one up and the roar of the train came by as the O+A realtor dashed over to slam the windows shut. Nice. Then you have a retirement home that was proposed for the vacant lot across the street that has been empty for 5 years. The noise, debris, and disturbance won’t be a problem if and when that starts, for now you have a view of a trash strewn vacant lot. And don’t forget the great views of the Pru and parking lots if your on the back of the building. Ignore the fact that One Kenmore will start soon and take about 5 years to finish, maybe you might still be able to see the Pru with a periscope. If you’re lucky enough to face the back of An Tua Nua you will LOVE the view of their dumpsters and be swept away to a vista of Staten Island by the smells. Ohh, I almost forgot beautiful sketchy brownstone across the street, full of sketchmen doing sketchy ‘deals’ on the reg, sometimes right on the street. If that’s not enough, maybe the An Tua Nua pre-game and post game all over Miner Street will charm the vomit and trash away. Don’t forget to leave your valuables in the car so the sketchmen can fertilize the sidewalk with broken glass, they’re going green after all. All this seems to go perfectly with the “Asian fusion” design LMFAO. How O+A wasn’t able to close all the helicopter parents shuttling Bristol and Bryce to AP in their Porsche Cayenes for the open houses is a MYSTERY. I mean those poor kids just are not cut out for the BU dorms, their parents must buy them a condo.

    “Audubon Park exudes style from the moment you approach the six-story complex from the street.” PAUL RESTUCCIA/Boston Herald March 8, 2008
    –Hows that exuding style working out for ya?

    One of my favorite statements that was so laughable and turned out to be fraudulent – No undergrads allowed! BAHAHAHAHA

    John, you said my comment was inappropriate. Whatever. I think you saying “The prices at Audubon Park, on the other hand, are much more manageable, and are a good option for buyers looking for new” was HIGHLY INAPPROPRIATE. I’m sure you will delete this comment because you wouldn’t want any prospects to hear about how you once blatantly failed to look out for your clients’ interests.

    What is grossly inappropriate is thinking people would shell out $500k for a 700 sq foot box with all these amenities. The abandoned autobody shop and its graffiti contributed more to the neighborhood than AP and it didn’t contribute to the housing/finance meltdown.

    Kudos to Fox and Ford!

  5. Comment by John Ford | 04/01/10 at 4:17 am

    Scott, my problem with the comment that I deleted is when you used the terms “huckster” and “scam”. I just don’t think we should use terms like that to describe an individual. I think you can get your point across, but in a more prof manner.

    Any attacks on me thats fair game.

  6. Comment by John Ford | 04/01/10 at 4:34 am

    Scott, Just for the record when you stated: In fact you said in your 2/28/08 post: “The prices at Audubon Park, on the other hand, are much more manageable, and are a good option for buyers looking for new.”

    Woof, how does that crow taste?

    I didn’t write that blog post it was written by the prior owner of this blog.

  7. Comment by Scott | 04/01/10 at 4:42 am

    John, first of all my comment never described any particular person with those words, I intentionally made it general. Second, telling potential buyers that the deeds and all other relevant legal condo docs prohibit renting to undergrads and then turning around and renting to undergrads doesn’t reek to you? Because not only does that seem to fit the definition of fraudulent, it seems to fit the definition of scam: To defraud; swindle. And the people that perpetrate fraud meet the definition of huckster: One who uses aggressive, showy, and sometimes devious methods to promote or sell a product.

    I’m not attacking you, I’m just stating the facts. Facts that I pointed out two years ago (in comments here which I seem to remember kept getting deleted, how odd). Turns out I nailed it. FTW

  8. Comment by Scott | 04/01/10 at 4:46 am

    Ok, I edit my post to say, “your blog said in a 2/28/08 post.”

  9. Comment by Doug M | 04/01/10 at 5:51 am

    John, you are a saint for operating this blog. For the record I have zero connection with AP and barely one with O&A and quite frankly couldn’t care less. But I admire your patience in taking very personal attacks with class, and your efforts to keep this forum a place for industry discussion and data sharing.

    Scott, swooping in to anonymously attack a person and their ethics and credibility is inappropriate and unprofessional, and ‘editing’ after the fact doesn’t fix that. “Woof”, “LMFAO” and “FTW” and the condescendingly indignant attitude you exude (i.e. why are you including your resentment of rich college students and their parent’s expensive cars in this discussion?) are all better reserved for MySpace, Scott.

  10. Comment by Scott | 04/01/10 at 6:53 am

    Doug – It’s not anonymous when my name and email are attached. You’re just as anonymous as I am, nice try. I think anybody that shills bad investments that inevitably turned out to be an epic fail is inappropriate and unprofessional. If the truth makes someone defensive, that’s their problem, not mine. Editing one small discrepancy regarding a statement of this blog in general is trifling. If you’re offended by sarcasm, imagine how offended you would be if you bought a condo in a now foreclosed building? You apparently weren’t that offended, seeing as you read everything I wrote. How disingenuous. If I said anything inappropriate, it will get deleted. I’ve yet to see anyone dispute any of the facts I noted about AP so how is that inappropriate? With regards to my comment on rich parents and their kids, if you read what I said you would know that I was referring to the selling ability of O+A during the height of the market. For the front they put on, they couldn’t close sales with people that seemed to be begging to give their money away. And about the kids not being able to live in the dorms, that is practically a verbatim quote I heard from some of them.

    Oh, BTW, it’s hilarious you say I exude a “condescendingly indignant attitude.” How would you describe your attitude? I could riff on that if you want. I mean, you’re telling me to go to MySpace. OY VEY it’s not 2004. This is a comment section on a BLOG, not church.

  11. Comment by John Ford | 04/01/10 at 9:34 am

    Scott. FYI, I don’t delete negative comments about me or this blog I want an open conversation. For example, I have two female blog readers, lets use there first initials M&M. These two have thrown some negative comments back at me all the time, and this is the trurth, I have never deleted or altered their comments because they didn’t agree with me, or how did you put it: Editing one small discrepancy regarding a statement of this blog in general is trifling. If you’re offended by sarcasm…” I don’t edit comments unless its a personal attact on another.

    I would like to ask you this one question: Why would I delete your comment and not M&M comments. Here’s another follow-up question: When was the last time you left a comment on this blog besides this post?

  12. Comment by John Ford | 04/01/10 at 9:36 am

    Thank you Doug!

  13. Comment by Scott | 04/01/10 at 9:44 am

    Must have been under the prior owner’s regime. Sorry for the saying anything that confused that John and you. My bad.

  14. Comment by John A Keith | 04/01/10 at 11:22 am

    I never deleted any comments by anyone, anytime.

    Well, once. It was a comment by someone who thought he was being funny but was only vulgar.

    I don’t have anything to add about the other stuff.

  15. Comment by megan | 04/01/10 at 1:00 pm

    “These two have thrown some negative comments back at me all the time,”

    I think you’re being oversensitive. I’m sure (like me) these other two posters appreciate the effort you put into this blog and your objectivism when writing posts.

  16. Comment by Mary | 04/01/10 at 3:20 pm

    “I have two female blog readers, lets use there first initials M&M. ”

    ““These two have thrown some negative comments back at me all the time,”

    John,

    Just to let you know I fully support your ban on Megan and Meredith…

  17. Comment by John Fod | 04/01/10 at 9:42 pm

    Lets move on to another subject.

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    Boston Back Bay Condos 3rd Q 2011





    Back Bay Condo Sales 3rd Quarter 2011 - 150. Number of Back Bay condo sales in the 3rd Q of 2010 - 126

    Back Bay average condo sales price in the 3rd Q of 2011 - $974,258.00. Back Bay average condo sales price in the 3rd Q of 2010 - $944,320.00

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    Fenway Condo Sales 2011

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