Major Residential Development Opportunity 126 Approved Units in Established Community Raleigh, North Carolina Details
Organic Farm in Hunterdon County, NJ 162+/- Acres Preserved Farmland Hunterdon County, NJ Details
UNDER CONTRACT
30 Bay Front Condominiums Minimum Bid $75,000
Previously Asking $394,500 Ocean City, Maryland Auction Date: July 31, 2010 Details
Commercial Usage 4 Bank Sites ABSOLUTE
New Jersey Auction Date: July 15, 2010 Details
By Order of the Estate 47.28+/- Acres Andover Borough, Sussex County, NJ Auction Date: July 15, 2010 Details
Multi-Tenant Building Office, Light Industrial, Local Distribution, Fulfillment Center Bloomsbury, Hunterdon County, NJ Auction Date: July 15, 2010 Details
5 Main Line Residences Minimum Bids From $150,000
Previously Asking $765,200 Ardmore, PA Auction Date: July 14, 2010 Details
24 Beach Front Residences Minimum Bids From $125,000
Previously Asking $1,800,000 Wildwood Crest, New Jersey Auction Date: June 26, 2010 Details
28 Three Bedroom Bay View Condominiums Minimum Bid $95,000
Previously Asking $699,000 Wildwood, New Jersey Auction Date: May 23, 2010 Details
15 Commercial and Investment Properties Absolute and Minimum Bids from $90,000
Open House Added for Select Properties
April 29th, 2010 12-2PM
New Jersey, New York Auction Date: May 6, 2010 Details
41 Upscale Condominiums Last Open House
Thursday April, 15th 4-7pm
Manhattan Lies At Your Doorstep
Minimum Bids from $95,000 Union City, New Jersey Auction Date: April 17, 2010 Details
4 Preserved Farms Readington Township Hunterdon County, NJ Auction Date: March 1, 2010 Details
36 New Condominiums Raleigh, North Carolina Auction Date: November 15, 2009 Details
14 New Waterfront Residences Harbour Light Condominiums
Crisfield, Maryland Auction Date: November 14, 2009 Details
SOLD
2 Luxurious Condominiums Minimum Bids from $750,000
Previously Asking $2,675,000 Ocean City, New Jersey Auction Date: June 19, 2010 Details
133 Acre Farm A Blue Ribbon Farm
Hamilton Twp, Mercer County, NJ Auction Date: June 17, 2010 Details
20 Luxury Resort Condominiums Minimum Bids from $95,000
Previously Asking up to $869,900 Millsboro, Delaware Auction Date: June 13, 2010 Details
25 Jersey Shore Condominiums Minimum Bids from $55,000
Previously Asking $256,000 Wildwood Crest, New Jersey Auction Date: May 16, 2010 Details
9 Luxury Condominiums Condominiums: Minimum Bids from $95,000
Penthouses: Minimum Bids from $200,000 Old City, Philadelphia PA Auction Date: May 15, 2010 Details
15 Beach Block Resort Condominiums Minimum Bids from $85,000
Previously Asking $550,000 Dewey Beach, Delaware Auction Date: May 1, 2010 Details
20 Riverfront Condominiums River Tower at Christina Landing
Wilmington, Delaware Auction Date: April 10, 2010 Details
Bahia Vista 1 9 Luxury Bayfront Condominiums
Ocean City, Maryland Auction Date: February 27, 2010 Details
Income Producing Bank Building Auction Date: February 16, 2010 @ 11:00am Bordentown, New Jersey Auction Date: February 16, 2010 Details
100 Acres Preserved Farmland Pittstown, Hunterdon County, NJ Auction Date: December 10, 2009 Details
5 New Townhomes The Enclave at Penn's Preserve
Willistown, Chester County, PA Auction Date: December 5, 2009 Details
Trotters Paradise 55 acres
Chesterfield Twp, Burlington County, NJ Auction Date: December 3, 2009 Details
4.4 Acres Commercial Property Online Auction
Burlington County, NJ Auction Date: December 1, 2009 Details
105 Acres Farmland Preserved Yellow Brook Farm
Colts Neck, New Jersey Auction Date: November 19, 2009 Details
25 Beach Block Condos And 2 Income Producing Investment Properties,
2.1/2 blocks from beach
Wildwood Crest, New Jersey Auction Date: October 31, 2009 Details
What is a city to do with an accumulated inventory of city-owned properties such as row homes, building lots, former city garages, former schools, and a firehouse?
Reading PA, proud home of the Reading Rail Road, saw its growing inventory of abandoned and outgrown properties as a potential key to a Reading renaissance. In a city whose goal according to Mayor Tom McMahon is “to be one of the most successful, most livable cities in America,” the need was to put such properties back to work as homes, apartments, shops, and industrial facilities. The challenge was how to market these properties in a real estate market that was stuck.
SOLUTION
The City of Reading engaged the Max Spann Auction Co. to create a market for 36 city-owned properties. The combined marketing, land use, finance and real estate valuation expertise of the Spann auction team promised to maximize the City’s capital recovery in the shortest period of time. The signature Spann Auction Program, comprised of 132 distinct steps, was applied to all 36 properties, all culminating on the auction date.
Because numerous state and local programs might apply to potential redevelopment opportunities in Reading, the target market was potential bidders with the capability to envision and execute adaptive reuse and other strategies. The trademark Spann auction preparation, which captures all available information about each property and includes coordinated signage and open houses for all 36 properties, is especially valued by the investor bidders likely to respond to an auction such as this.
RESULTS
The Spann auction gavel got a workout in Reading PA. Eighty bidders participated; seven buyers prevailed. True to the Spann Auction Program guidelines, the transactions closed expeditiously for both seller and buyers. The Max Spann Auction Co. demonstrated that it's time-tested auction process, already proven in other real estate arenas, is a winner for client cities and multiple properties.
OCEAN CITY, MD -- July 8, 2010 – Watch the sunset from your new bay front condominium centrally located on the strip in Ocean City. With minimum bids starting at just $75,000 at an auction later this month, owning a vacation home in one of the East Coast’s top beach resorts is now within reach.
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