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Keller Williams City Life Realty

Auction Results for 1300 Park Avenue Condos in Hoboken

Last night I attended the auction at the Hyatt Regency in Jersey City for the Hoboken condos for sale at 1300 Park Avenue and 517 Jackson Street. The auction was conducted by Sheldon Good & Co. Auctions LLC, a New York based real estate auction house. I have to say, they did a great job. The auction was very informative and entertaining. If you have a chance to attend one in the future, I highly recommend going.

For several months I have noticed the properties at 1300 Park Avenue go from sales to rental, and finally to sale-by-auction. I wrote about this in a previous posting. Feel free to check it out.

The entire auction lasted about an hour. Registered bidders had to have a cashier’s check for $15,000 in order to bid. The starting bid for all condos was $150,000.  Below are the winning bids and the order in which they were sold. Both 1300 Park Avenue & 517 Jackson Street were on the board at the same time to bid. 1300 Park Avenue sold out first and then bidders starting bidding on 517 Jackson Street. A 10% Auction Fee was to be placed on top of the winning bid. Also, some buyers choose to take the “Quick Close” option where if they close by a certain period of time, they save 2% of the purchase price.

1300 Park Avenue Hoboken Auction Results

1300-park-ave-hoboken-1

1300 Park Avenue in Hoboken

  1. Unit 4B: 2 bedrooms, 2 baths, 896 sq.ft. Winning Bid: $425,000 + 10% Auction Fee = $467,500
  2. Unit 5A: 3 bedrooms, 2 baths, 919 sq.ft. Winning Bid: $425,000 + 10% Auction Fee = $467,500
  3. Unit 5B: 2 bedrooms, 2 baths, 896 sq.ft. Winning Bid: $410,000 + 10% Auction Fee = $451,000
  4. Unit 3B: 2 bedrooms, 2 baths, 896 sq.ft. Winning Bid: $390,000 + 10% Auction Fee = $429,000
  5. Unit 4A: 3 bedrooms, 2 baths, 919 sq.ft. Winning Bid: $360,000 + 10% Auction Fee = $396,000
  6. Unit 2B: 2 bedrooms, 2 baths, 889 sq.ft. Winning Bid: $345,000 + 10% Auction Fee = $379,500
  7. Unit 3A: 3 bedrooms, 2 baths, 919 sq.ft. Winning Bid: $355,000 + 10% Auction Fee = $390,500
  8. Unit 2A: 3 bedrooms, 2 baths, 919 sq.ft. Winning Bid: $340,000 + 10% Auction Fee = $374,000

517 Jackson Street Hoboken Auction Results

517 Jackson Street in Hoboken

517 Jackson Street in Hoboken

  1. Unit 401: 2 bedrooms, 2 baths, 1,162 sq.ft. Winning Bid: $272,500 + $15,000 for parking space + 10% Auction Fee = $316,250
  2. Unit 402: 2 bedrooms, 2 baths, 1,510 sq.ft. Winning Bid: $280,000 + 15,000 for parking space + 10% Auction Fee = $324,500
  3. Unit 301: 2 bedrooms, 2 baths, 1,162 sq.ft. Winning Bid: $280,000 + 10% Auction Fee = $308,000
  4. Unit 302: 2 bedrooms, 2 baths, 1,510 sq.ft. Winning Bid: $282,500 + $15,000 for parking space + 10% Auction Fee = $327,250
  5. Unit 202: 2 bedrooms, 2 baths, 1,510 sq.ft. Winning Bid: $280,000 + $15,000 for parking space + 10% Auction Fee = $324,500
  6. Unit 201: 2 bedrooms, 2 baths, 1,162 sq.ft. Winning Bid: $275,000 + $15,000 for parking space + 10% Auction Fee = $319,000

****Please note: These are just contract prices. None of these Hoboken condos have actually closed yet. I will follow-up in 2-3 months once the tax records change ownership and see if there are changes from the winning auction bids to the final published sales prices.

If you have any thoughts or feedback, please feel free to leave your comments.

As always if you have any questions, please feel free to contact me.

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