BrokerageIndustry News

Bidders score condos for half off

From The Real Deal
Published on Sep 23, 2009

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by CareyBot

On Sept. 21, Lofts 881, a new condominium located in downtown Bridgeport, Conn., auctioned off 13 of 19 unsold apartments in the building, which has 38 total residential units.

The hour-long auction, which is believed to be the first of its kind in the state, took place in a conference room in a Marriott Hotel in the town of Trumbull, Conn., amid candy bowls and a two-piece jazz band.

The 60 people there bid on one- and two-bedroom units that range in size from 540 square feet to 1,452 square feet, with granite counters, bamboo floors and stainless-steel appliances.

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