Auction: Pacifica Condos
The remaining 17 units at the Pacifica, a higher-end condo development on the waterfront north of Portland’s Pearl District are up for auction. Bidding starts at $115,000 for a studio in the mid 600 sq. ft range.
The auction has been a long time coming for this 74-unit development. Sales that started in 2006 came to a grinding halt during the credit crunch. Spurred by the recovery at The Atwater Condos and The John Ross, the investor consortium at this waterfront development has finally decided to take the plunge.
Buyers have a choice of twelve different floor-plans, with bidding starting at 67 percent off the original asking price.
The auction is scheduled for Sunday, April 10, 2011 at Marriott Portland Downtown Waterfront. Registration is required. Financing ok. A buyer’s premium of three percent ( 3% ) will added to the winning bid amount.
Curious about recent sales at the Pacifica? Interested in bidding? Drop me a note.
