“Almost Corrected” – More on the Bryant Luxury Condominium Auction: A Success Case
Lucky for me I am in New York City today and made my morning adjustment to read the New York Daily News – only to find out that “the press” finally got it right ALMOST got it right this time! There has been a continued following even a week later about the success of the Bryant Back Bay Auction which took place last week in Boston, MA. So why have the New Yorkers caused so much “after chatter” in the press and the blog-o-sphere regarding this ‘ultra-luxury’ condominium auction?
Well, as seen and written about in many articles now the auction went off as a hit and was a SUCCESS, unlike some journalist seemed to analyze it out of the gate. Like all the most recent auctions in Boston, it was masterminded and produced Jon Gollinger & Accelerated Marketing Partners (AMP) in conjunction with one of New York’s familiar names – Louise Sunshine.
Why, many ask is this auction getting so much attention, especially after 2 other Boston auctions went off earlier this year. I even asked myself that, till I really dug down and assessed the outcome. I like the stance the writers & readers of the “most recent Curbed post” took it – stating this is one of the first ‘true luxury’ condominium auctions in the U.S. and one that boasted great results not just for the buyers – but truly a successful event for the developers!
If you haven’t seen it yet – definitely check out the NYDN today.
Buyers/Investors – looking for the next AMP Auction? There is one going off in Chicago and Tampa this upcoming month. Inquire for details & insider access here.
Developers – Considering going auction? Shoot me a note personally and I will email you out AMP’s auction kits. (tony@CondoDomain.com)
Press - Wan’t more info on upcoming auctions – Contact us here
[...] “Almost Corrected” – More on the Bryant Luxury Condominium Auction … [...]
So a developer with an over priced product finally comes to grips with the reality of the market and sells units for what people are actually willing to pay for them. What a concept! Not rocket science by any stretch. Don’t believe the auction hype.
In all honesty, I always see the developers put a spin on auction outcomes. Look…yes they sold 14 units at an average of $670ish/square foot. That is definitely lower than traditional luxury “back bay” prices and in the range of decent south end prices, although less when you look at some other luxury buildings that sold out over a year ago. At the end of the day, the buyers got a seemingly fair price…so note to developers: lower your outrageous prices to start with and yes you’ll get buyers. That’s all it says about the luxury market as far as I’m concerned.
CondoNewbie – I think you may be on to something
Keep it simple right?