Lovingly Restored Hotel Chauvet Condos for Sale at Auction

. March 26, 2007

Starboard TCN Worldwide Commercial Real Estate, headed by Hans Hansson, has established an Auction Services Group under the direction of David C. Rutgers, a veteran auctioneer who has sold more than 40 condominium projects at auction.

Starboard’s first auction will take place on Saturday, April 28, with the sale of six high-end condominiums in the Sonoma wine country. The auction of these condos—priced at over $1.3 million—will be a first for Northern California. Each 2,000-square-foot half-floor residence will be sold to the highest bidder in a live open outcry auction. The condos were constructed in the Hotel Chauvet, a meticulously restored national landmark. The Chauvet is the most prominent structure in Jack London’s Valley of the Moon—Glen Ellen, California—and is surrounded by wineries and gourmet restaurants.

Because of the unique and incomparable nature of this 1906 structure, the unprecedented opportunity to own a piece of history will be available through this exclusive auction. Minimum bids for auction buyers have been set at 35% below asking price.

Rutgers reports that auction marketing has been absent in California for the last 15 years because demand for housing exceeded supply. Now, however, condominiums are overbuilt in the Bay Area and sales are slow. A well-orchestrated auction combined with a professional team of auctioneers enables developers to accelerate the marketing of a project and attract buyers. Rutgers predicts that auctions will become more prevalent as California developers seek quicker sales, smaller inventories, and less carrying costs.

For more information please visit, www.starboardnet.com/auction-services-group/auctions/chauvet_hotel.php

Category: Auction News

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