Maddeningly little information to offer on the results of last weekend's auction of 39 condos in Long Beach. As previously noted, developer Citi Property Group held a public auction of new condos (the minimum bid on a 834-square-foot unit that was previously listed at $534,000 was $275,000). David Parsky, principal at Citi Property Investors, tells Curbed that "attendance and results of the auction were very positive." He also said they've elected not to release any sales information until sales on the condos have closed. Meanwhile, a resident who lives in West Ocean One tower, the other tower (different developer) reports: "It has been an interesting couple of weeks here; we've seen dueling sign spinners competing on behalf of the TWO onsite sales offices; one for the remaining Tower 1 units owned by the original Developer (Intracorp) and one for the Tower II units being auctioned by the investor-owner Citi Property Investors..." Spinning for dollars in Long Beach!
· Long Beach's West Ocean Two Auctioning Off 39 Condos [Curbed LA]