Sold! One Hanson's Last Units Auctioned Off
Yesterday there was a decent turnout to witness the One Hanson penthouse auction, in which the six remaining units in the building sold for between $1,325,000 and $2,500,000. The opening bids for the first four four-bedroom units auctioned were $1,500,000, with the winner choosing their unit after the bidding closed. Some units had reserves, but…
Yesterday there was a decent turnout to witness the One Hanson penthouse auction, in which the six remaining units in the building sold for between $1,325,000 and $2,500,000. The opening bids for the first four four-bedroom units auctioned were $1,500,000, with the winner choosing their unit after the bidding closed. Some units had reserves, but most were pulled mid-auction, and only two units sold with them in place. (Thus, the developers could theoretically reject the winning bidders for these units.) Here’s how the action played out:
–Unit 26A was the first unit snatched up, a 3,263-square-foot four bedroom last on the market for $3,450,000. It went to auction with a reserve, which was pulled after the first bid. Selling price: $2,550,000.
–Unit 31A, another four bedroom, had been priced at $2,995,000. Selling price: $1,700,000.
–30A, a four bedroom, had been last on the market for $2,945,000. Selling price: $1,650,000; and it had a reserve.
–29A is a four bedroom that was first listed for $4,775,000, then $2,895,000. The reserve on this unit was lifted during bidding. Selling price: $1,700,000.
– The last two units left were 27A and PHA. The bidding started at $1,200,000, and both had reserves. Mid-bidding, the reserve was lifted on PHA. The bidding for them hit a ceiling at $1,325,000, with the winner choosing unit 27A.
-Bidding on PHA, the two-bedroom duplex, started at $1,000,000. Selling price: $1,325,000.
What I missed in this info was the monthly common charges for the unit. Given the size of these unit, the carrying charges could make what seems like a super deal, totally unaffordable.
After looking at the sale prices to the buyers (i.e. hammer price + 13%), most buyers paid 575-600 $PSF (counting outdoor space as 1/4th of indoor space) — a much lower result than we’ve been seeing recently.
I’d second that. We were prepared to bid, but Scott Burman, from Paramount was such an absolute a**hole about it that we decided not to.
Experienced auction attendees very underwhelmed by auction company miscommunications about requirements, putting best stuff up first instead of last, and overall organization skills… who hired these guys?
we’ll see what closes…. but this is a good thing
Cause bedbugs don’t ride up elevators to the tower *rob*
why would someone pay millions and millions of dollars to live a in a building where people bring in bedbugs to your lobby every weekend?
*rob*
The way I read it, all units got winning bids, but two may not have hit the reserve price: 27A and 30A. The developers may opt to let the sales go through or hold back. There were no reserve on 26A and 31A, and the reserves on PHA and 27A were met.
which units sold and which didn’t?