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On the Block: Jersey City's Beacon

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Once NYC condo developers decide to auction unsold units in bulk, how will they fare? For a hint, there's the recent auction at Jersey City's converted medical center The Beacon. The Post fills us in on the results: "The development sold 32 condos -- seven more than the 25 it had originally planned to offer -- and sales prices ranged from the mid-$290,000s to the mid-$400,000s for one- and two-bedrooms originally priced from $390,000 to $705,000. Given that the 'suggested opening bids' were listed as $150,000 to $250,000, we're going to call this one a win for The Beacon." [NYP]