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Hoboken Condo Auction Fails to Hit Maximum Velocity

You may recall Velocity Hoboken from a couple of weeks ago. It's the 128-unit development that was supposed to be auctioning 40 units for minimum bids starting at $295,000 each. Today, Hoboken Hero shares a little about how it went:

Reports are beginning to trickle in re: the auction yesterday, and it seems it was not all that positive of an experience. Word is the auction was stopped earlier than anticipated and only some of the 40 units were actually put up for auction. The available condos went for surprisingly lower prices than anticipated. I'm sure those who bid and won are very happy and excited today because they got a great deal. And I'm sure those who paid near the asking price for their units oh so long ago, are not feeling so hot today.As for updates, one of the commenters writes that "They cut the thing after 9 went off. They totally panicked, it was hilarious!"
· Velocity Hoboken auction - a trickle not a downpour [Hoboken Hero]
· Hoboken Auction Open House: "Top Notch" [Curbed]