This November 20th, one condo will be auctioned off at 416 Marlborough Street. The interesting thing here is that this is going to be an online auction not an actual auction in person . It’s more like an Ebay way to buy your next Back Bay 1 bed. Personally, I have not seen this done in downtown Boston, but maybe this is a first. Historically speaking, Back Bay, South End and Beacon Hill properties don’t go up for auctions, nor are there many short sales or foreclosures. This is not a large auction like that of the Bryant, but is a small, one off way of doing it. To be honest, I think its a great way to market a single condo listing that “needs to be sold.” but i wonder how well this will be attended with serious buyers. If it works well, maybe we will see more of this style of sale popping up around Boston.
The Original price of this condo was $525, 000 and has a minimum starting bid of $315,000 and the highlights from the auction website are:
- “Professionally Managed Including 7 Day Concierge
- Historic Bldg Fully Renovated, Modern European-style Interiors
- Beautiful Shared Roof Deck With Panoramic Views
- Updated Kitchen Appliances and In-Unit Washer / Dryer
- Sunny, South Facing Living Room
- In-Building Bike Storage & Fitness Room / Pet Friendly
- Excellent Closet Space Throughout
- Condo Fee is $460″
Do you think this auction Format will catch on in Boston?
If you have any questions regarding this property, feel free to contact me at firstname.lastname@example.org and i can send you a link to the auction site.
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