400 approved bidders attend the Natick luxury condo auction.
From the Boston Herald:
The Nouvelle at Natick condo complex held a fire sale yesterday, and while its bankrupt developer got burnt, buyers scored some incredible deals.
Forty-three units at the 215-condo development attached to the renovated Natick Mall sold at an auction at the nearby Crowne Plaza Boston Hotel, where an overflowing crowd of bidders, each with a $10,000 certified check in hand, packed the main ballroom.
Bankrupt owner General Growth Properties had hoped that its $170 million luxury condo development in the suburbs – with top-of-the-line finishes and appliances, sports club membership and a rooftop garden – would be a hit. But the failed project had sold just 37 units since being put on the market in 2007.
Buyers of top-floor penthouse units got the greatest auction bargains. The most expensive unit for sale, a three-bedroom, three-bath, 2,110-square-foot 12th-floor unit sold for just $626,000, 37 percent of its last asking price of $1,684,900.
So what are your thoughts for the Bryant auction?