Update on Tribute Loft Auction
Posted by Ashley Derrick on 06/23/08 in Atlanta Intown Lofts & Condos, Information
So, the auction went as planned and yet, the developers of Tribute Loftswere NOT able to sell the 40 they had planned to auction off. They sold closer to 20. The lowest price was about $136,000 and the highest bid came in at around $263,000. They will now be selling them at discounted prices at their sales center. They are nice lofts - go get one for cheap!
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Lance Rice | Jun 24, 2008 | Reply
I really think this is devastating news to the people who paid full price for the units. Imagine buying something for 400K to only have the same unit sell for 140k less. Talk about a huge equity reversal. The problem with those units, besides being a little on the small side is that the retail has never emerged in the lower level. If that’s one of the selling points of the building, walking down to a clothing store, coffee shop, and they never materialize, then I could see a lot of people who wished they had never bought there.