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Bidders score condos for half off

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: Republished with permission from TheRealDeal.com. Click here to view original article. By C.J. HUGHES 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. The red-brick, five-story Lofts 881, which is named for its address on Lafayette Boulevard, features a 1,000-square-foot basement gym and a 2,000-square-foot roof deck in a building that formerly contained doctor's offices. Winning bidders likely went home happy. Their bids, between $125,000 and $1...