From a list price of $939,000 to $869,000 to $850,000 to $830,000 to $813,400 to $797,150 to an auction this Wednesday (3/26/08) at 4:15 PM.
As you might recall, 41 Federal #42 had been offered by the developer for $850,000 sixteen (16) months ago before being purchased and then lost to the bank. The opening bid this week will be $100,000*. Care to forecast the final price?
And in case you didn’t catch it, our 41 Federal headline almost three months ago: “Going Once, Going Twice…Going Five Times At Shore|Line: 41 Federal.” Boo.
*UPDATE (Redux): While we originally noted the lack of a “reserve” price and intimated that “it will sell,” it appears as though ex SF-er correctly parsed the auction’s “subject to approval” language, and tipster demonstrates how being the highest bidder isn’t always high enough.
∙ Real Estate Auction: 41 Federal #42 [williamsauction.com]
∙ Seller Motivated Drastic Price Reduction Penthouse Unit [SocketSite]
∙ And Now We’re
Back Below Where We Started [SocketSite]
∙ Savings At Shoreline (41 Federal) [SocketSite]
∙ Going Once, Going Twice…Going Five Times At Shore|Line: 41 Federal [SocketSite]