Luxury Condos Up For Auction In Annapolis

Another big condo event is scheduled for Maryland. As many as 30 units at the GrandView at Annapolis Towne Centre will be auctioned off on November 14. Units that were priced from $415,000 to $995,000 will be sold at 60 to 70 percent off recent asking prices. A condo last priced at $995,000 has a minimum bid of $308,00 while a condo last priced at $415,000 will have a low minimum bid of $148,500. Condo fees range from approximately $275 to $600 per month. Auctioneer Sheldon Good & Co. says the builder and its lenders will sell at least 10 units if they get bids at least as high as the minimum. According to a post in the Baltimore Sun, two-thirds of the 150-unit building is empty.The auctioneers will take sealed bids on three of the 10 penthouse units with current asking prices of just under $1.2 million to just over $1.7 million.

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