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655 Hope Sells 30 Units, But Doesn't Razzle Dazzle 'Em

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Opting not to offer all 45 units at yesterday's auction, developer SECK Group instead offered only 30 units to buyers, condos that went relatively quickly to a crowd largely described as a being made up of investors and bargain hunters. Those who purchased at the auction, held at the Sheraton, said the prices were fair. “I think it went well for the buyers, but I don’t know how well for the seller, ” said Scott Fellmeth, a downtown resident who bought unit 904, a two-bedroom, two-bath home for $423,000. "There were some really good deals,” agreed Marissa Goodman, a South Pasadena resident who said she would have bought if the HOAs were lower and the building offered more amenities. Overall, in terms of prices, the units sold for market rate to a little below market rate, according to a source. "This to me this was an efficient auction," said the source. "It wasn't spectacular in terms of prices going through the roof...it was fine, it was ok. It wasn't razzle dazzle 'em." Meanwhile, in a departure, Kennedy Wilson staffers were very strict about letting people without wristbands into the event, so there were simply fewer people milling about, making the auction a far less festive and boisterous event than previous auctions. "It felt more like a business meeting," said Andy Chong, a Los Feliz resident. Yes, sadly, this auction was no booze fest.

No.,Size SF Minimum Bid Sold at Auction Price Per SF


1404 2/2 1197 285,000 500,000 417.71

1405 2/2 1232 285,000 480,000 389.61

1204 2/2 1213 285,000 476,000 392.42

703 1/1 710 165,000 295,000 415.49

1503 1/1 600 165,000 292,000 486.67

1203 1/1 600 165,000 260,000 433.33

1205 2/2 1247 285,000 445,000 356.86

904 2/2 1212 275,000 422,000 348.18

804 2/2 1154 260,000 420,000 363.95

603 1/1 709 165,000 252,000 355.43

1506 1/1 661 165,000 241,000 364.60

1206 1/1 661 165,000 226,000 341.91

704 2/2 1154 260,000 420,000 363.95

604 2/2 1154 260,000 417,000 361.35

1105 2/2 1260 285,000 427,000 338.89

1103 1/1 600 165,000 239,000 398.33

1003 1/1 600 165,000 235,000 391.67

1501 1/1 678 200,000 291,000 429.20

1502 2/2 1001 245,000 386,000 385.61

902 2/2 1001 225,000 334,000 333.67

1401 1/1 697 195,000 296,000 424.68

1201 1/1 717 195,000 285,000 397.49

1001 1/1 738 185,000 271,000 367. 21

1005 2/2 1268 285,000 414,000

905 2/2 1255 285,000 413,000 329.08

805 2/2 1216 275,000 411,000 337.99

601 1/1 740 185,000 268,000 362.16

1508 1/1 918 260,000 331,000 360.57

1507 2/2 1012 245,000 380,000 375.49

1407 2/2 1012 245,000 370,000 365.61