The Sage, The Bel Air slated to auction remaining condo units in South Austin
After the success of The Brazos Lofts auction, two other condominium units have decided to try their hand. The Sage on South Lamar & The Bel Air Lofts have decided to put their remaining units up for auction.
The Sage auction is hosted by J.P.King. Auction is scheduled for August 22, 2009 at 11:00am. 10 of the 23 units being auctioned are No-Reserve -- the highest bidder will become the owner regardless of the price. Three of the units to-be-auctioned are their premier Mezzanine units. I have been in these units, and they are spectacular. Wonderful finish outs, with balconies & loft spaces upstairs. Each unit auctioned is a minimum of 2 beds / 2 baths, and some have 2.5 baths.
The Bel Air auction is hosted by Kennedy Wilson, the auctioneer of Brazos Place Lofts. Auction is scheduled for August 9, 2009, at 1:00pm. 25 units are to be auctioned with the opening bids beginning at $90,000 - $125,000 for select units. These are a substantial discount to previous sold prices, undoubtedly to attract bidder interest. It will be interesting to see what price these units are ultimately sold.
I’m sure that other Austin developers are keeping a watchful eye on these auctions to gauge the fate of their own projects currently under construction. If you’re interested in bidding on either of these opportunities, please contact me.
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