Broadluxe Financial District Condo Auction

We’ve received literally hundreds of inquiries over the past year regarding Broadluxe in Boston’s Financial District, and the time has finally come to announce the condo auction details. Tranzon, an auction company that will represent the seller, TD Banknorth, will be auctioning 44 individual condos ranging in size from 539± to 1,887± square feet at Broadluxe in the heart of the Financial District of Boston.

The auction will be held on Saturday, June 21, 2008 at 10:00am at the Langham Hotel, located at 250 Franklin Street, Boston, MA 02110.

We are providing Buyer representation at no cost to you (i.e. leveraging our services versus “going it alone” does not impact your purchase price). Allow us to setup property previews, guide you with comparable market analysis so you know how to bid, and serve as a sounding board for downtown Boston condo expertise. Contact us for further details on next steps.

Tranzon is requiring a deposit amount of $20,000 per unit or $50,000 for 3 or more units, in cash or certified check, to bid. Deposits will be increased to 10% of purchase prices (TBD) within 5 days of auction close. Deposits will be held by Tranzon during the auction, and the intention is that the Purchase & Sale Agreement will be signed at the auction should you win a unit.

Building amenities include storage, ground level commercial space (restaurant and wine store), elevator, state of the art fire alarm and sprinkler system, concierge (more security level), and professional management. Condo fees will include maintenance, trash removal, professional management, concierge/security, and common area expenses/utilities.

Tranzon will follow 30-Day closings, sold in as-is condition, with no contingencies on the Broadluxe condo auction.

Broadluxe Condo Auction

Comments

  1. Brecht Palombo says:

    Hi, I’m Brecht Palombo and I am the local contact for Tranzon Auction Properties. I’m coordinating most of the information and access associated with this sale.

    I’m happy to answer any questions in this thread to the extent that I’m able.

    We’re excited to be able to bring this project to the public finally and we appreciate the notice on this exceptional blog.

  2. Hi Brecht. Is there a link to a website with minimum bid info?

  3. Hi Brecht, thanks for the posting.
    Do you have layouts/floorplans?
    What are the condo fees expected to be per square foot?
    What are the parking options?
    Which units have outdoor space?
    Are the units fully finished?

    Thanks
    Peter

  4. Brecht Palombo says:

    Holly and Peter

    Our website for this sale will be live today with ALL of the information we have including floor plans, minimum prices etc.

    That URL is http://www.broadluxeauction.com – right now it is a splash page, but we are moments away from being live.

    We have some final documents that are trickling in from various sources.

  5. How can they call a unit a two-bedroom when it doesn’t really have two bedrooms? These units are really peculiar, even the model “two bedroom” unit is only a big studio loft with two bathrooms. And those baths are tiny. I don’t think I’d buy here even at the minimum bid prices.

  6. http://www.broadluxeauction.com is now live and everything that we know or have available will be published here as further details come in. Unit floor plans, minimum bids, condo budget, terms and other legal docs are all available here as they become available to us

  7. In regards to a previous post, Yes its seems like the layouts of 2 beds is really one with a walk in closet. And 1brs have space very limited, kitchen spread all over the living space, and bedrooms hardly have a space for bed.

    Min bids seem to be too high for this development, lets hope they can mark it down last minute 🙂

  8. Richard says:

    I looked at the Broadluxe units yesterday and also came away with the same impression that it will be difficult to put a queen-sized bed in many of the bedrooms. At the right price, it would make sense to purchase two side-by-side units and come up with something that has a bit more space (1,500 to 1,700 sq. feet). Maybe units can be auctioned in pairs if there is interest.

    The penthouse unit that looks out over the Greenway was very nice especially with its large terrace. It will be interesting to see what it goes for.

    The location is certainly great. The two major down-sides being there is no in-building parking and no food stores close-by. However, the Brix wine store is right on the first floor by the front door. 😉

  9. Boston Condo Guy says:

    Bear in mind that the expectation with most loft style spaces is that the unit owner makes the space their own (i.e. build out 1 or more bedrooms and closets as they see fit). The two-bedroom units at Broadluxe may not have two distinct walled rooms built out for bedrooms, however, they have the proper (to code) sprinkler systems in place to allow you to build out two separate rooms that would meet code, thus, they’re calling it a two-bedroom space.

  10. Nick Perrotta says:

    I am concerned about the structural integrity of the building. I remember this being an issue w/ the original builder. Did they have a structural engineer approve the renovations? Can anyone else comment on this issue?

  11. Beantown Local says:

    I went through the units today and also felt that the “2 bedrooms” space, was unrealistic for someone to make 2 bedrooms. We walked through a possible solution, but the second bedroom would be tiny at best. Great location and cool space, just not sure that the layout is worth paying the price.