Audubon Park Foreclosure Auction – Forty-one of the fifty-three condos along with 22 of the 32 parking space in Audubon Park, a luxury condominium complex in Boston’s Fenway area, will be sent to the auction block on April 28th after its owner, head develepor of 16 Miner Street LLC, Robert Fox, defaulted on a construction mortgage. Located in the Audubon Circle area of Fenway, the development aimed to “pioneer” the location with higher priced condos, an effort that failed in our struggling real estate market according to The Boston Herald.
The Herald reports, “Year-to-date Fenway real estate sales represented just 2 percent of downtown Boston transactions through Friday, compared to 6 percent for the same periods last year and in 2008,” a statistic predicting Audubon Park’s failure.
First Beacon Hill Auction a Success! – In yesterday’s press release, Great Rock Auctions, specialists in premium real estate auctions, announced that their first-ever auction of two newly constructed homes at 20 Brimmer Street and 25 Lime Street, Boston, have successfully sold. The release quotes Jeremy Freid, Principal of Great Rock Auctions, saying, “We are pleased to have successfully sold both Beacon Hill properties. Great Rock Auctions was retained by both clients to sell their properties in an accelerated and definitive timeline and we have effectively accomplished that goal.”
Greg Cohen, seller of 25 Lime Street, had this to say on the results of the auction, “Prior to retaining Great Rock Auctions, my property was listed conventionally for just under a year. Through Great Rock Auctions, I just closed with a fair market price within 60 days.”
Great Rock Auctions provides motivated sellers and buyers with a platform to consummate sales of premium real estate through a transparent, accelerated sales process.
For the full Herald article, click here.
For the full Great Rock Auctions press release, click here.