downtown austin lofts

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

We love numbers here at DAB, and AustinTowers.net takes a look at average sale prices (per foot) for each building in Downtown Austin over the past 14 months. You’ll find each building ranked by price/foot in descending order. 5 Fifty Five takes the top spot at $473/ft. You might be surprised to see the Westgate show up at $325/ft. Greenwood Towers sets the floor at $197/ft.

The most interesting result might be Plaza Lofts coming in at an average of $291/ft. Plaza Lofts is the most centrally located of all downtown Austin condos. These numbers have a back story, which is what I assist my clients with. Over the past 14 months, the Plaza Lofts has been subjected to construction expectations. Gables Republic Park was scheduled to begin construction next door to the South. Andrews Urban/Novare were expected to push their Ovation project where the post office is located. This would have killed many people’s views of the hill country. It doesn’t appear that either of these projects will be complete within the next five years, if not longer.

Another key point to remember about Greenwood Towers, the least expensive Downtown Austin condo, its intrinsic value is significantly linked to the fact that the building sits on a land lease which expires sometime near 2050.

Complete AustinTowers.net Analysis (link)

Ranked in descending order:
5 Fifty Five, $473/ft
Nokonah, $442/ft
Brazos Place, $370/ft
…
Villas on Town Lake, $241/ft
Towers of Town Lake, $228/ft
Greenwood Towers, $197/ft

Brazos Place Condo Auction

Downtown Austin Condo Sales