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West Hollywood's Luminaire Having Sort of a Mini-Auction

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That big sale at the Luminaire was announced last week for those last four units, but you better read the fine print. As the email blast noted, there's a bit of an auction situation going on, some haggling over units. Via the email blast: "All units have an unpublished reserve price which the Seller has established and may exceed The New Starting Price...An offer shall not be deemed approved or accepted nor will any commission be paid to Broker unless the unpublished reserve price has been met and/or the Seller has approved and accepted the resulting offer." A rep for Deasy/Penner clarifies further: "There's a new starting price and there's an unpublished reserve, and the developer is responding to offers as they come in." A dozen contracts were sent out for those four units in the last 36 hours. Meanwhile, speaking of auction fever: "Any results available on the Vista Del Arroyo auction held this past weekend?" a reader writes, asking if there's news on the Kennedy Wilson Pasedena auction.
· West Hollywood Luminaire Slashes Prices [Curbed LA]