Almost shaking, Seltzer then heard the words: "Going once, going twice, going three times. Sold at $360,000 to No. 652!"
Such was the bidding frenzy yesterday among the 325 participants who came to lay claim to the ultimate status symbol of luxury Center City living. That prize comes with a swimming pool, fitness gym, 24-hour concierge, and more at the elliptical, 43-story glass tower at 21st and Market Streets.
All 40 Murano units were sold yesterday, as well as two more units, in a span of just under two hours - a clear signal that there is a demand for condos in Center City, albeit at much lower prices, according to experts.
The lowest winning bid was $335,000 - for a one-bedroom, one-bath unit - and the highest, for a two-bedroom, two-bath unit, was $796,000, according to Accelerated Marketing Partners, which auctioned the units on behalf of the developer, Thomas Properties Group Inc.
Close to $21 million worth of real estate was sold yesterday in one hour and 45 minutes, roughly at a 25 percent or more reduction of the last asking price for the units in the Murano brochure, according to Accelerated Marketing.
"I'm not surprised they sold for more than the original auction minimum bids, but I am surprised they all sold," said Wharton economist and Econsult vice president Kevin Gillen after the auction. "I am encouraged by that.
"We have a lot of unsold units here, and before our market hits bottom, we need to sell them off," he said. "This is a significant step toward that."
About 2,000 condos are currently for sale downtown, according to Trend Multiple Listing Service, Board of Revision of Taxes data, and the developers themselves.
Jon Gollinger, chief executive officer of Accelerated Marketing, said the auction once again proved who was king.
