Broadluxe Condo Auction Results

With Bruce Willis filming his new movie called Surrogates outside, the Langham Hotel adjacent to Post Office Square played host to the much anticipated Broadluxe auction. The staff at Tranzon Auction Properties had run a very professional ship leading up to the auction, and they did not disappoint on the big day. At approximately 10:15 am in the morning, the auction got underway in front of a 100+ person capacity crowd, with the first several units selling at minimum bid prices. As more popular floorplans were introduced to the crowd, prices began to rise as high as $39,000 over minimum bid pricing.

Broadluxe Auction Results

Some of the interesting data points from the auction are as follows:

  • Number of units sold: 29 out of 44 units were sold (66%)
  • Average Sales Price per Square Foot: $494
  • Neither of the two (finished) duplexes sold
  • Neither of the two (unfinished) penthouse units sold

15 units do remain for sale (see auction details 118 KB PDF, those not highlighted in gray are still available), and they will eventually be listed in the Boston MLS. Note that on Tuesday, June 24, 2008, updated pricing was released for remaining units. For more information about submitting a post-auction offer on one of the remaining units, please contact us.

Boston Langham Hotel

Comments

  1. Thank you for getting a photo of my bald spot.

  2. kevin s says:

    Is It still possible to purchase a condo with you. Please let me know i am intereasted

  3. Boston Condo Guy says:

    Hi Kevin, absolutely. We’d be happy to assist, including giving you access to our exclusive comparable market analysis that was put together specifically for the Broadluxe property.

  4. thanks for an informative piece. should i care to bid i might give you a ring to discuss. regards

  5. The PDF posted shows the price per square foot calculated on the minimum bid set for each unit by the auctioneer. It would be interesting to see the actual price per square foot of the units that did sell this weekend.

  6. Boston Condo Guy says:

    Daniel, your request has been fulfilled, open the PDF again to see the updated version.

  7. Broadluxe Post Auction Pricing

    I got email for post auction price. They increase price 20% more. I quess for those units not sold, they should low the price.

  8. Is it still possible to buy at the first auctioned price ?

  9. Boston Condo Guy says:

    New (increased) pricing was released the Tuesday following the auction, you can no longer purchase at pre-auction / auction (minimum bid) prices. Tranzon announced before the auction started that prices would be increased following the close of the auction, should any units still remain for sale.

  10. I went to see these apts in the pre auction show. The layout of the heatpumps in the penthouse BR was just one example of some interesting layout choices by the developers. I told the shower that my price for the penthouse would have been no more than $870. Glad to see I was right when they didn’t sell.

    I find it amazing that they have the guts to raise prices post auction when a) they didn’t sell at $970k with over 100 people in attendance and b) the overall economy / financial services is having so much trouble…. I would be shocked if they sell for more than $900k. The math is pretty straight forward. You have to put in atleast $200k to make them livable cover living costs in 2 locations for the time it will take to complete them.

    Chris

  11. Brecht Palombo says:

    SOLD! The Broadluxe units are selling out even as we speak. The penthouse units you’re talking about went under agreement on Thursday and we’re even holding a backup offer for the same money that came in a little late. All of the sales figures will be public record over the next 30 days as the units close.

    Of the 44 units originally available we sold 29 at the auction and have since put 9 more under agreement leaving now 6 units. You should see a summary of what’s available in the next days or so on this blog as I just provided details on the units to its author over the phone. All of the “shells” are under agreement.

    There’s no question we are driving towards a total liquidation in short order. Contact this site’s author for Buyer Representation.