Marcato Condo Auction Results
Marcato, in Tacoma, auctioned off 17 units this weekend at an average of 55% off of original offering price. Normally wouldn’t blog about something so far afield but folks can’t seem to get enough about condo auctions these days.
Click through for the press release and selling prices of the 17 units. Here’s the photos they sent me.
News Release
Marcato Condominium Sells Remaining 17 Units at
First Tacoma Real Estate Auction
17 new condominium owners purchased their new condominium homes at an average of 55% off of original offering price in Tacoma’s first real estate auction. The homes, which ranged in size from a one bedroom, one bath at 620 square feet to a two bedrooms plus den, two bath unit at 1,228 square feet, were all sold within 70 minutes of the opening gavel.
The auction, conducted at the Hotel Murano Sunday at 1:00PM, drew a sold out crowd of 68 pre-registered bidders. The sold ranged from $140,000 to $240,000.
“We had almost 700 groups through in the month leading up to the auction.†says Koket Fowler, Project Manager of the TeamBuilder Auction Group. “We knew all the units would sell because of the large amount of interest, the quality of the community, and the great values.†The homes sold for an average of 135% of minimum bid.
Marcato is a 93 unit condominium community that was completed in early 2007. After an excellent start, a slower economy brought sales to a virtual halt, leaving 17 still on the market. Roger Hebert of Vision One LLC, the developer of Marcato, was philosophical about the auction results. “I’m pleased that the successful bidders are receiving great value, and it is a good thing that the building is now completed. â€
For additional information, contact Koket Fowler at 206-226-3965 or at [email protected].
| Unit # | Type | Sq. Ft. | Original price | Minimum bid price | Sold price |
| 216 | 1 br 1 ba | 620 | ” $229,900 “ | ” $95,000 “ | ” $160,000 |
| 214 | 2 br 2ba | “1,105” | ” $398,900 “ | ” $160,000 “ | ” $220,000 |
| 219 | 2 br 2 ba | “1,040” | ” $399,900 “ | ” $165,000 “ | ” $220,000 |
| 418 | 2 br 2 ba | “1,045” | ” $371,462 “ | ” $175,000 “ | ” $240,000 |
| 312 | 2 br 2 ba den | “1,228” | ” $434,900 “ | ” $175,000 “ | ” $240,000 |
| 110 | 1 br 1 ba | 745 | ” $227,900 “ | ” $105,000 “ | ” $155,000 |
| 513 | 2 br 2 ba | “1,040” | ” $404,900 “ | ” $135,000 “ | ” $240,000 |
| 304 | 2 br 2 ba | “1,155” | ” $405,900 “ | ” $175,000 “ | ” $195,000 |
| 112 | 2 br 2 ba | “1,125” | ” $398,900 “ | ” $175,000 “ | ” $210,000 |
| 311 | 1 br 1 ba | 685 | ” $231,900 “ | ” $105,000 “ | ” $145,000 |
| 413 | 2 br 2 ba | “1,060” | ” $393,900 “ | ” $135,000 “ | ” $195,000 |
| 414 | 2 br 2 ba | “1,110” | ” $409,900 “ | ” $160,000 “ | ” $220,000 |
| 204 | 2 br 2 ba | “1,145” | ” $398,900 “ | ” $175,000 “ | ” $205,000 |
| 213 | 2 br 2 ba | “1,045” | ” $373,900 “ | ” $135,000 “ | ” $190,000 |
| 314 | 2 br 2 ba | “1,120” | ” $404,900 “ | ” $160,000 “ | ” $210,000 |
| 104 | 2 br 2 ba | “1,210” | ” $388,900 “ | ” $175,000 “ | ” $180,000 |
| 211 | 1 br 1 ba | 680 | ” $221,900 “ | ” $95,000 “ | ” $140,000 |
| “17,158” | ” $6,096,862 “ | ” $2,500,000 “ | ” $3,365,000 | ||
