Condo auction attracts many bidders, few sales
Tampa Bay Business Journal - 2:55 PM EST Monday
Forty condominium units at The Hamptons at Tampa Palms were sold at a public auction over the past weekend, at an average price of $148,000 a unit.
J.P. King Auction Co. of Gadsden, Ala., managed the sale of the units, which were among the most expensive converted apartments in the Tampa Bay area. The auction attracted 171 bidders from 15 states as far away as Minnesota, Nevada and California
.
The sale disposed of 20 two-bedroom units, 15 three-bedroom units and five one-bedroom units, at a total price of just above $5.9 million, a J.P. King spokesman said.
Bay Communities Real Estate Inc. converted the 315-unit Hamptons complex in July 2005 and decided to put 100 condos on the block during the Dec. 9 auction, conducted at the Grand Hyatt Tampa Bay hotel on Rocky Point.
"We came to reduce our inventory, and that's what we did," Bill Harkins of Bay Communities stated in a release Monday. "We got 40 units sold and some people got a great deal. It's a very soft market."
Among the crowd were several other condo developers who observed the Hamptons sale as they consider auctions to reduce their own inventories.
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Tuesday, December 12, 2006
Wednesday, November 15, 2006
Thursday, November 09, 2006
CommunityWalk - Under Construction in Downtown Tampa
CommunityWalk - Under Construction in Downtown Tampa
Map of Projects in Downtown Tampa
Map of Projects in Downtown Tampa
Monday, November 06, 2006
Venue Condo Tower Approved For Downtown Tampa
Condo Tower Approved For Downtown
Published: Oct 27, 2006
TAMPA - The developer of a proposed 50-story condominium tower on prime downtown land won zoning approval for the project Thursday from the city council.
Gibraltar Development Corp. hopes to break ground next year and see the building ready for occupancy in late 2009.
The site, located along the Hillsborough River, is now occupied by an office building.
The site is less than a half-acre but sits at a prime location at the southwest corner of Ashley Drive and Kennedy Boulevard.
Named Venu, the slender glass tower the council approved Thursday is to have 215 condo units.
Residences would range from 900 to 4,000 square feet and unit prices would run from $400,000-plus to more than $3 million.
Plans call for 3,200 square feet of ground-floor retail space and 10 floors of parking.
The site is a short distance from the site of the Trump Tower Tampa project. Construction on the 52-story Trump project, which also is being built along the Hillsborough River, has been delayed while the developer seeks financing and addresses a foundation issue.
View Video Rendering
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Published: Oct 27, 2006
TAMPA - The developer of a proposed 50-story condominium tower on prime downtown land won zoning approval for the project Thursday from the city council.
Gibraltar Development Corp. hopes to break ground next year and see the building ready for occupancy in late 2009.
The site, located along the Hillsborough River, is now occupied by an office building.
The site is less than a half-acre but sits at a prime location at the southwest corner of Ashley Drive and Kennedy Boulevard.
Named Venu, the slender glass tower the council approved Thursday is to have 215 condo units.
Residences would range from 900 to 4,000 square feet and unit prices would run from $400,000-plus to more than $3 million.
Plans call for 3,200 square feet of ground-floor retail space and 10 floors of parking.
The site is a short distance from the site of the Trump Tower Tampa project. Construction on the 52-story Trump project, which also is being built along the Hillsborough River, has been delayed while the developer seeks financing and addresses a foundation issue.
View Video Rendering
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Questions about future developments? Send us an email: realtyrae@yahoo.com
Condos to be auctioned -Tampa, Fl
Condos to be auctioned in effort to move units: "Condos to be auctioned in effort to move units
STAFF REPORT
In another sign of a slow housing market, 100 condominium conversion units at the Hamptons at Tampa Palms will be sold in December in an auction -- 40 of them in an 'absolute auction.'
That means some of the units on Amberly Drive in the New Tampa area will go to the highest bidders with no minimum bid or reserve.
Condos selling 'absolute' will include 15 three-bedroom units, 20 two-bedroom units and five one-bedroom units.
Residential and real estate auctions have become the fastest-growing segment of the U.S. auction business.
In a real estate market that has been turned upside down, auction specialists are finding interest growing exponentially from would-be sellers desperate to move their product.
Bay Communities, the development firm converting the apartments, decided on an auction strategy to speed up sales, said Craig King, president of J.P. King Auction Co., the Alabama outfit managing the event.
'With the marketplace slowing down a bit, Bay Communities decided it was a good time to get more aggressive and sell a number of units in one day,' King said.
The developer, Bay Communities, started marketing in mid-2005, 'but as everybody knows, the market has slowed down quite a bit nationwide since then,' said Bay's Bill Harkins.
'In that environment, we felt an auction would help reduce the inventory.' "
STAFF REPORT
In another sign of a slow housing market, 100 condominium conversion units at the Hamptons at Tampa Palms will be sold in December in an auction -- 40 of them in an 'absolute auction.'
That means some of the units on Amberly Drive in the New Tampa area will go to the highest bidders with no minimum bid or reserve.
Condos selling 'absolute' will include 15 three-bedroom units, 20 two-bedroom units and five one-bedroom units.
Residential and real estate auctions have become the fastest-growing segment of the U.S. auction business.
In a real estate market that has been turned upside down, auction specialists are finding interest growing exponentially from would-be sellers desperate to move their product.
Bay Communities, the development firm converting the apartments, decided on an auction strategy to speed up sales, said Craig King, president of J.P. King Auction Co., the Alabama outfit managing the event.
'With the marketplace slowing down a bit, Bay Communities decided it was a good time to get more aggressive and sell a number of units in one day,' King said.
The developer, Bay Communities, started marketing in mid-2005, 'but as everybody knows, the market has slowed down quite a bit nationwide since then,' said Bay's Bill Harkins.
'In that environment, we felt an auction would help reduce the inventory.' "
Friday, November 03, 2006
List of Condos and Lofts in Tampa, Fl
Receive an updated price list of condos and lofts in the Tampa Bay Area, Downtown, Channelside, Ybor City and South Tampa. Pre-Construction pricing and resales available in all developments.
Includes: The Slade, The Place, Victory Lofts, Channelside Lofts, The Meridian, Ventana, the Grand Central at Kennedy, Box Factory Lofts, the Residences of Franklin St.,345 Bayshore, The Towers at Channelside, Skypoint, Element, and The Arlington in Downtown Tampa.
Got a question? Email us: realtyrae@yahoo.com
Tuesday, October 17, 2006
Six Ten Franklin and Downtown Developments-Tampa, FL
So what's going on with Six Ten Franklin Condos? Well they have a big sign up and a website but no one has said anything about when they will be ready to start writing contracts. When you go to the website you have to provide all your information, but they give little. "Starting in the 200's" I believe is what they say.
Be sure that if you have a Realtor you have their number, email address, and company name handy. If you don't register them when you visit their site, apparently you can't have representation later on in the game unless you are willing to pay a Buyer's Agent directly. All builders pay the commission to a Buyer's Agent so it winds up not costing the buyer to have a Real Estate Agent on their side, this particular developer wants to know upfront if you are using a Realtor.
If you don't have a Buyer's Agent and would like to get someone to represent you, you will need to contact an agent first before you register yourself online at the Six Ten Franklin website, or a Realtor can register for you if they know what your criteria is. To find a Realtor who can assist you in your purchase you can visit www.TampaBayLofts.com and fill out the registration form. They have information on all the projects in Downtown Tampa, including SkyPoint resales, the Residences of Franklin St., the Arlington and the Element. All have resales or original units from the developer that have been released or turned back. These may also be a good option for someone who needs a place to live in the next 3-6 months.
Can we count on the Six Ten project being built?
A friend/colleague of ours said they may be scrapping the whole development because one of the partners was bailing out. That is rumor as of right now, as we haven't spoken with anyone regarding if this information is true. It's out there however, and it may happen.
We will post more information as it becomes available to us. If anyone out there know something please post a comment!
Be sure that if you have a Realtor you have their number, email address, and company name handy. If you don't register them when you visit their site, apparently you can't have representation later on in the game unless you are willing to pay a Buyer's Agent directly. All builders pay the commission to a Buyer's Agent so it winds up not costing the buyer to have a Real Estate Agent on their side, this particular developer wants to know upfront if you are using a Realtor.
If you don't have a Buyer's Agent and would like to get someone to represent you, you will need to contact an agent first before you register yourself online at the Six Ten Franklin website, or a Realtor can register for you if they know what your criteria is. To find a Realtor who can assist you in your purchase you can visit www.TampaBayLofts.com and fill out the registration form. They have information on all the projects in Downtown Tampa, including SkyPoint resales, the Residences of Franklin St., the Arlington and the Element. All have resales or original units from the developer that have been released or turned back. These may also be a good option for someone who needs a place to live in the next 3-6 months.
Can we count on the Six Ten project being built?
A friend/colleague of ours said they may be scrapping the whole development because one of the partners was bailing out. That is rumor as of right now, as we haven't spoken with anyone regarding if this information is true. It's out there however, and it may happen.
We will post more information as it becomes available to us. If anyone out there know something please post a comment!
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