
Bids for the 40 units began as low as 60 to 70 percent off the original listing price. The GrandView is a 150-unit Sturbridge Homes high-rise. Of the 40 units offered, 33 were sold, reported the New York-based auctioneer Sheldon Good and Co.
The largest unit, a 1,655-square-foot two-bedroom, two-bath condo that also features a sun room, sold for $610,000, 36 percent below the original asking price of $955,000. The majority of closing bids for the remaining units ranged from $300,000 to $600,000.
Real estate auctions have become popular in recent years because of the balky housing market. Before Sunday’s auction, close to 75 percent of the GrandView’s units remained unsold.
 
 




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