It was almost one year to the day when the Bryant Back Bay hosted its first condo auction to reestablish market pricing for the luxury South End / Back Bay units and jump start further sales, and the public now gets a second crack at it.  In October 2009, 10 luxury condos at the Bryant [...]

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Sold. On a crisp fall day at the Colonnade Hotel in Boston’s Back Bay , the second much anticipated downtown Boston condo auction of 2009 took place in front of a group of poised bidders and their real estate professionals.  The market waited patiently for less than an hour to see what the results would [...]

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Over 400 potential Buyers crowded into a standing room only Crowne Plaza Natick Hotel to purchase 43 auction units and 12 additional post auction units at prices between 34% and 64% of their most recent asking prices. The Nouvelle at Natick condo auction’s goal was to kick start sales at the troubled luxury condo development [...]

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After multiple project occupancy delays, changes in listing brokerages, and amongst rumors swirling this past week, the Bryant Back Bay condo auction has been announced by Accelerated Marketing Partners.  The auction event, slated for Saturday October 17th,  will offer 10 luxury floor-through direct elevator access units with minimum bids starting at $1,075,000. Similar to the [...]

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General Growth Properties, the developer of the 215-unit luxury Nouvelle at Natick condo development west of downtown Boston, has turned to Accelerated Marketing Partners to auction off 43 of the Nouvelle residences on October 4, 2009 in an effort to kick-start new sales and provide operating cash flow to the bankrupt mall operator. Nouvelle at [...]

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Just over a year ago, Buyers and Investors had the opportunity to participate in the last downtown Boston condo auction at the Broadluxe (see Broadluxe Condo Auction Results).  On Sunday, June 28th, those interested in purchasing downtown Boston real estate will again have a chance to do so at auction prices when the 1850, a [...]

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It was almost a year ago to the day that Bostonians saw their last downtown condo auction take place at the Broadluxe on June 21, 2008. Prior to that, roughly two years had gone by since the last downtown Boston condo development auction at Folio was used to clear out inventory at the Financial District [...]

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Over the past calendar year, there has been one condo auction that has taken place in Boston, at Broadluxe in June of 2008, and one just outside Boston, at Longwood Towers in April of 2009.  These auctions were brought to market on behalf of institutional investors, those who owned the entire development.  The public auction [...]

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This week, the building at 441 Stuart Street was offered to the public through a foreclosure auction. The property was most recently purchased in 2004 for $37.5MM with the intent of converting the building to condominiums. Recorded documents show that Corus Bank, a well-known condo conversion lender out of Chicago, placed $42MM in debt on [...]

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New Fannie Mae condo guidelines present a new significant hurdle to sales for Boston condo developers. In the face of these hurdles and with increasingly less patient lenders it is likely that the Boston area will see more condo auctions in 2009. The Wall Street Journal reports a summary of the changes: “The government-backed mortgage-finance [...]

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