Max Spann Real Estate & Auction Co., one of the nation’s premier auction companies, is holding seven separate auctions in New Jersey, Pennsylvania, Delaware and Maryland between April 10 and May 23.
The properties range from high-rise, luxury condos in Philadelphia, Hudson County’s Gold Coast in New Jersey and Wilmington, DE to waterfront properties in Dewey Beach, DE, Crisfield, MD and Wildwood and Wildwood Crest, both at the Jersey shore.
“Over the next few weeks, we’re offering something for everyone,” said Max Spann, president of the auction firm. “For aspiring home owners and investors who have been sitting on the fence, waiting for an opportunity to buy, there is no better opportunity than these auctions.”
Spann said the company has never conducted so many auctions in such a short period of time. He attributed the robust activity to a growing realization in the real estate industry that auctions are the most efficient way to move properties during these challenging economic times.
“The auctions create a sense of urgency in the marketplace,” Spann said. “With bidders competing with each other at the same time, auctions such as these help determine the optimal market value.”
For those looking for a sophisticated, cosmopolitan lifestyle, Max Spann has three offerings:
In Wilmington, Max Spann is auctioning 20 luxury high rise condominiums overlooking the bustling Christina River waterfront and downtown Wilmington on Saturday, April 10 at the Chase at Chase Center on the Riverfront, 815 Justison Street in Wilmington.
The downtown condos, part of the River Tower at Christina Landing community, will have minimum bids of as low as $95,000. The original asking price on the units was nearly $700,000. The units are the final 20 in the 183-unit tower that has far outsold any other condominium project in the region during the past two years.
In Hudson County, New Jersey, the company is auctioning 41 luxury high-rise condominiums with stunning views of the entire Manhattan skyline, and, located just minutes from the heart of Manhattan. The auction will take place at 1 p.m. on Saturday, April 17 at Hilton Hasbrouck Heights/Meadowlands, 650 Terrace Ave. in Hasbrouck Heights.
These sophisticated condos, part of the Altessa at 809 22nd St. in Union City, will have minimum bids beginning at $95,000. The original asking price on the units was $489,000. Prominently located along New Jersey’s famed Hudson County “Gold Coast,” the Altessa offers its residents a huge 2,710-square-foot rooftop deck with pool, a community kitchen, a running tracks and incredible panoramic views. It has an exclusive gym for its residents, including a wet and dry sauna and locker rooms.
In Philadelphia, Max Spann is auctioning nine stylish, contemporary condominiums in a new building designed by the renowned architectural firm of Tackett & Co. Cu257, located on Second Street between Northern Liberties and the heart of Philadelphia, offers stunning views of Center City and the Ben Franklin Bridge.
The minimum bid is $95,000 on seven units with original asking prices ranging between $698,400 and $871,225. Two penthouse units with previous asking prices of $1.2 million will each start at $200,000. The auction will take place Saturday, May 15 at 1 p.m. at the Hilton Philadelphia Airport, 4509 Island Avenue, Philadelphia. Preview dates are Tuesday, April 20 from 4 to 6 p.m., Saturday, April 24 from noon to 2 p.m., Sunday, May 2, from noon to 2 p.m. and Saturday, May 8 from noon to 2 p.m.
For bidders looking for waterfront and vacation homes, Max Spann also has offerings in three states:
Boat owners, fisherman and all other outdoor enthusiasts take note. In Crisfield, Max Spann has scheduled a builder’s close-out auction on 18 townhouse units in the Water’s Edge community on Sunday, April 25 at 1 p.m. at the Loews Annapolis Hotel, 126 West Street, Annapolis, MD. Minimum bids start at $75,000 for 2,000 square feet, four-bedroom, three-bath units with original asking prices ranging from $365,000 to $700,000.
Preview dates are scheduled from noon-2 p.m. on Saturday, April 10, Saturday, April 17, Sunday April 18 and Saturday, April 24. The property is located at Water’s Edge Drive (Lorie Quinn Road), Crisfield, MD.
Located along the Chesapeake Bay, Water’s Edge is a newly constructed community that features amenities such as screened porches, Andersen windows and sliding doors, spacious great rooms and kitchens with granite and Corian countertops. Kitchens and bathrooms feature ceramic tile floors and Moen plumbing.
In Dewey Beach, Max Spann is auctioning 15 beach block resort condominiums at the Delano and Rainbow Cove on Saturday, May 1 at 1 p.m. at the Loews Annapolis Hotel, 126 West Street, Annapolis, Maryland.
The properties, which are easy walking distance to the beach, marinas, restaurants and nightlife, feature 1, 2, 3 and four bedroom condominiums with gourmet kitchens, luxurious baths and private balconies. Preview dates are scheduled from noon to 2 p.m. on Sunday, April 11, Saturday, April 17, Sunday, April 18 and Saturday, April 24. The properties are located at 1406 Highway One and 109 Dagsworthy St.
Max Spann has two auctions in the Wildwoods. The first is of 25 fully furnished beachfront units in the Nassau Inn on the Beach, 6201 Ocean Avenue, Wildwood Crest. Preview dates are noon to 2 p.m. on Sunday, April 25, Sunday, May 2 and Saturday, May 8. Minimum bids are $75,000 on units with original asking prices ranging between $190,000 and $256,000. The auction is scheduled for Sunday, May 16 at 1 p.m. at the Seaview, A Dolce Hotel, 401 S. New York Road, Absecon.
The second auction is of 28 condos in Marina Bay, 4901 Susquehanna Avenue, Wildwood. Preview dates are from 3 to 5 p.m. Sunday, May 2, Saturday, May 8 and Saturday, May 15. The 1,600 square-foot, three-bedroom, two-bath units come furnished. Minimum bids start at $95,000 on units with original asking prices of $699,000. The auction is also being held on Sunday, May 23 at 1 p.m. at Seaview, A Dolce Hotel.
Last year, the company sold more than 300 units at auctions in New Jersey, New York, Massachusetts, Maryland, Virginia, Delaware, North Carolina and Pennsylvania.
Spann said auctions give developers a way to take control of their properties and act proactively in facing the challenges of the market.
“The economy really benefits as a whole because we are reducing the oversupply in inventory created by the real estate bubble that inflated housing prices,” Spann said. “Once these properties are sold at prices determined by the market, developers can get back to building homes and begin putting people to work again.”
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