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Landmark Boston Condo Auction's NYC Connection

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Though we just went all auction up in here, here's an update on that Boston condo sell-off that happened last weekend. If you'll recall, some observers referred to the auction?developer Vornado sold off 10 units in a struggling luxury development?as a "complete failure" due to final bids that came in around $1.3 million on condos once asking $1.7 million to $2.2 million. The results didn't seem so bad to us, and unshaven Daily News spirit warrior Jason Sheftell agrees. Today he writes that Vornado's Boston auction was actually a huge success, though the stats are a bit of a stretch: "Never before in the United States had an auction for multiple condominiums in one building with minimum bids starting near $1.075 million fetched final prices averaging more than $1.35 million." That's right, first time ever! After the auction four more apartments were sold to attendees at similar prices. And in fact, "This auction will lead to five to six luxury auctions to come in New York City," said Louise Sunshine. Wait, our Louise Sunshine? Yes indeed! Her new company marketed the Boston building and "masterminded" the auction route. Let's get those gavels a-bangin'!
· Real estate history made in Boston's Back Bay, masterminded by real estate guru Louise M. Sunshine [NYDN]
· Boston's Condo Auction Experiment a 'Complete Failure' [Curbed]