austin condo auction

[youtube = http://www.youtube.com/watch?v=FWcxxbMI8Ks]

Brazos Place is officially sold out. Today, in less than 90 minutes, 19 downtown Austin residences were sold at an average discount of 29% from asking price. The best deal of the day was probably the penthouse: 2745 feet purchased for $967,200, originally priced at $1,575,000. The unit that was being advertised with a starting bid of $80,000 sold for $168,480 (OLP was $199,900). I was able to take video of that particular auction and you can watch it above.

Below is a brief summary and you can download the complete results here (pdf).

Units sold: 19
Square feet: 23,088
Avg sale price per foot: $281.80
Avg discount from OLP: 29%

-Jude

19 Brazos Place condos in downtown Austin are being offered via an auction hosted by Kennedy Wilson. The auction is scheduled for May 17th. While the opening bids are enticing, a hidden reserve price has been set for each unit.

I’ll definitely be watching this closely. Most auctions, including this one, have the right to cancel or reschedule if there isn’t a good response. Judging by the amount of coverage the Brazos Place auction is getting I expect there to be lots of interest.

If you are considering a residence in downtown Austin, then it’s worth giving this auction your attention. After checking out the auction website, you can contact me to learn more about the building, discuss the dynamics of the auction, and to preview the units.

For further information, including registration, contact:

Jude Galligan
Downtown Austin Realtor
judegalligan [@] gmail.com
512-226-3414

Brazos Place Auction Results

Brazos Place Condo Auction