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USAuction sells $2.6M.

$2.6 million worth of condominiums was sold in just 70 minutes through the auction sale of 20 residences at Bayview Tower, according to USAuction, Inc., the Stamford-based firm which conducted the auction marketing program.

More than 2,000 prospects visited the condominium site during the four-week pre-auction marketing period, reports Donald C. Hannah, president and CEO of US Auction.

Some 200 people attended the auction, he adds, Bidding up average selling prices to $132,000.

"The sale of 20 residences in a little over an hour once again proves the effectiveness of a well-prepared auction program," said Hannah. "The seller substantially reduced his inventory -- in a single hour in one afternoon -- and thus reduced his carrying costs as well."

Bayview Tower offers sweeping views of the Manhattan skyline, Statue of Liberty, Verrazano Bridge and New York Harbor. Apartments range from spacious 842-square-foot studios to dramatic three-bedroom layouts with more than 2,100 square feet of living space.
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Title Annotation:worth of condominiums
Publication:Real Estate Weekly
Date:Oct 2, 1991
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