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
Chesterfield Township, Burlington County, New Jersey, adopted a “smart growth” master plan in 1997 that utilized a Transfer of Development Rights (TDR) strategy to guide future land use. Zoning changes would allow the development capacity of vacant, residentially-zoned land in the "sending area" of the 21 square mile municipality to be transferred into a "receiving area" of less than one square mile.
Individual developers attempted to negotiate with individual landowners in the sending area, to no avail. After all, no one had yet figured out how to value development rights or credits.
SOLUTION
The Max Spann Auction Co., hired jointly by Burlington County and Chesterfield Township, set about creating the first-ever market for TDRs. Specialists in making a market for all manner of real property, the Spann auction team started by addressing the obstacles.
The Spann team educated potential sellers, explaining that placing their development credits on the auction block would reveal their true market value. On the other hand, a target pool of potential bidders had to be identified.
The Spann auction process generates out-of-the-box thinking. Developers were an obvious pool of potential bidders. But the Spann team reasoned that development credits were a valuable commodity investment in their own right, and targeted investors as well. The Chesterfield auction would be a one day, one commodity, market.
RESULTS
Max Spann made history with the first TDR auction in the nation. Sixty development credits sold at more than twice the previous record price. Sending area landowners went home with the true market value compensation for their development rights. Developers purchased TDRs on a first come, first served basis, allowing them to proceed with their projects.
The ultimate tribute to the foresight of Burlington County and Chesterfield Township, and the professionalism and ingenuity of the Max Spann Auction Co., is that professional planners around the country and the State are studying the Chesterfield auction as a prototype.
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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