Four condos left after GrandView auction
Bidders snapped up 21 condos at a second auction at GrandView at Annapolis Towne Centre, leaving four in the 150-unit project unsold, the auctioneer reports.
Mark Troen, chief operating officer of auctioneer Sheldon Good & Co., told me in June he was confident that everything at the high-end project would sell. Yesterday he said the builder could have auctioned the few remaining units at the Sunday event but decided a traditional transaction for the rest would bring an equal or higher price.
"We always promised that at least 10 would sell," Troen said. "We actually got to 21, so I think that's a pretty good result."
The winning bids ranged from $337,600 to $810,000 on units that Sheldon Good said were originally priced at $514,000 to $937,900.
About 200 people attended the Sunday auction, including 55 who registered to bid, Troen said.
Buyers also bought units between the two auctions. All those efforts combined explains how the GrandView went from largely empty to almost done with sales in just over half a year (though obviously some under-contract condos haven't closed yet). The earlier auction was held a year and a half after the first units changed hands.
"We sold a tremendous amount of inventory in the last seven months," Troen said.
Seen any interesting auctions lately?