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Curbed WeekendWire: Market Lofts Auction Sells Out

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Proving that people are still completely jazzed by a condo auction, Market Lofts sold all 55 units (plus a handful more) at its auction today at the Bonaventure Hotel. Units sold for between $300-$400 a square foot or, as real estate agent David Kean put it, for "short-sale" rate. The best deals were probably the two-bedrooms, according to agent Kerry Marsico, pointing to the example of unit 612, a 1,588 square foot unit that went for $495,000. Still, some people showed up probably thinking they could get a new condo for under $200,000, and left when they saw how quickly the minimum bid prices rose. "Who are all these people buying and where were they before today?" asked one young woman, heading to the door not long after the auction started. After the jump, a look at the original asking price (keep in mind that figure is probably very old, and probably came down at some point), as well as the minimum bid, and the final sale price. Meanwhile, Lee Homes president Jeff Lee (Lee Homes developed the project with CIM Group), told us he was very happy with how the event went down. "Perfect," he said, of the auction. The 211 267-unit building opened in 2007, and today's auction was intended to move the last 55 units.

UNIT #/SQUARE FEET/ ORIG. ASKING/MINIMUM AUCTION BID/ FINAL SALE


403: 2b 1220sf $772,500 $210,000 $485,000


600: 2b 1427 $838,500 $290,000 $522,000


741: 1b 852 $540,000 $160,000 $337,000


239: 1b 880 $541,803 $170,000 $327,000


530: 2b 1427 $808,500 $280,000 $504,000


500: 2b 1427 $808,500 $280,000 $495,000


219: 2b 1474 $817,500 $280,000 $484,000


204: 1b 1076 $586,000 $190,000 $328,000


702: 1b 796 $509,000 $150,000 $328,000


735: 2b 1308 $753,000 $250,000 $441,000


212: 2b 1538 $885,761 $295,000 $503,000


638: 1b 988 $580,000 $190,000 $361,000


225: 1b 754 $447,890 $140,000 $306,000


625: 1b 754 $486,000 $140,000 $316,000


525: 1b 754 $473,000 $140,000 $310,000


514: 2b 1138 $633,500 $200,000 $392,000


340: 2b 1308 $682,500 $210,000 $422,000


508 : 1b 754 $471,00 $140,000 $302,000


436: 1b 880 $518,000 $160,000 $319,000


300: 2b 1427 $781,500 $260,000 $467,000


400: 2b 1427 $795,500 $270,000 $476,000


330: 2b 1427 $781,000 $250,000 $474,000


537: 1b 988 $569,000 $190,000 $368,000


536: 1b 880 $527,762 $170,000 $325,000


437: 1b 988 $556,500 $190,000 $359,000


612: 2b 1588 $863,500 $295,000 $495,000


419: 1474 $794,500 $270,000 $476,000


639: 1b 880 $536,500 $170,000 $340,000


601: 1b 695 $445,500 $140,000 $292,000


501: 1b 695 $438,000 $130,000 $292,000


604: 1b 1076 633,500 210,000 $400,000


640: 2b 1308 725,500 $240,000 $429,000


609: 1b 754 $482,000 $140,000 $307,000


505: 1b 754 $466,000 $140,000 $300,000


504: 1b 1076 $621,500 $200,000 $397,000


507: 1b 754 $471,000 $140,000 $307,000


635: 1308 $ 725,000 $240,000 $432,000


606: 1b 754 $482,000 $140,000 $310,000


608: 1b 754 $482,000 $140,000 $312,000


610: 1b 757 $474,000 $140,000 $303,000


713: 2b 1474 $779,000 $260,000 $480,000


535: 2b 1308 $710,500 $230,000 $429,000


430: 2b 1427 $795,000 $270,000 $499,000


607: 2b 754 1b $482,000 $140,000 $311,000


605: 1b 754 $476,000 $140,000 $304,000


617: 2b 1138 $658,000 $210,000 $410,000

· And Another One... Downtown's Market Lofts to Hold Auction [Curbed LA]