The Sunday before last, hundreds of people gathered in a Manhattan ballroom to bid on unsold New York City condos, 25 of them in Astoria/Long Island City's East River Tower. With minimum bids of $195,000, the action was tense and furious, and 19 apartments sold at $333,000 and up, or $68,000 lower than the building's lowest original ask. The goal of the East River tower auction was to build momentum for the waterfront tower, and now the sales team is ready to capitalize on whatever enthusiasm the bidding generated. A tipster forwarded along the above flyer announcing one- and two-bedrooms still available at auction pricing, though the official site shows no specific listings. Will leftover auction fervor bring some warm bodies to the ghost tower's Sunday open house, or is the condo's location just too remote to keep the momentum going?
· Official website: East River Tower Sales [eastriverauction.com]
· East River Tower coverage [Curbed]