Long Beach condos being auctioned off is one thing, but now developers are looking to sell of bulk units in downtown's historic core. A bit of news that makes us feel uneasy, the web site for Rowan Lofts, a 206-unit adaptive reuse project at 60 Spring Street, is currently advertising a giant blowout auction of its units on February 8th. Minimum bids are $195,000. There's a whole "How it Works" page for those interested in picking up a few downtown units. We visited this building back in July and were told that prices ranged from $300,000-$1 million, and move-ins were supposed to happen in October. Apparently buyers weren't storming the gates. Godspeed, Rowan.
· Rowan Lofts Auction [Official Site]
· Rowan Move-Ins in October, More Spring Street Action Coming [Curbed LA]