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]
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