February
2008
Globe reported this week:
Twenty condominiums in the Atlantica, a newly constructed project on Revere Beach, will go on the auction block March 9. The minimum required bids, $215,000 to $315,000, are relative bargains for one- and two-bedroom units on the water. Most either face the ocean or have views of the surf.
Boasting the best value on the beach the Atlantica has decided to aggressively move 20 condos to auction – Similar to recent Auctions at the Folio in Boston these marketing auctions have been very successful in creating a buzz for the project and bringing in buyers who may not have paid attention to the development. This auction should be a great success as these units represent a great bargin in an up and coming Revere Beach area – which is slated for many new development projects: Waterside Place and The Ocean Club.
In the auction, to be held at the Seaport Hotel in downtown Boston, a single one-bedroom and eight “one-plus-den” units will be sold – the dens are essentially lofts overlooking the living rooms. Several of these units are at the back of the building, with views of Boston’s skyline or the marshlands to the west. Most have minimum prices – the lowest price the developer agreed to accept during bidding – in the low- and mid-$200,000s. The rest are two-bedrooms, with starting bid prices of $255,000 or more; three at the front of the building have $315,000 minimums.
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