Wow! Looks like Schnitzer West is “proactively taking measures to establish market pricing and enhance absorption of the properties” by auctioning off 40 units at Brix on September 27. Minimum bids are about 50% off of the last list price.
A reader just sent me a link to this:
Register at http://www.auctionbrix.com/ for more info or click through:
- 536 Broadway E
- 40 units up for auction
- Minimum bids starting at $165,000 for a 523 square foot open one bedroom up to $295,000 for a 1,207 square foot townhouse.
- List of available units w/prices [pdf]
- Auction brochure [pdf]
- Press release [doc]
- Photos from my last visit
Popularity: 14% [?]
View Comments so far ↓
1 Kant // Aug 28, 2009 at 8:51 am
And they are also auctioning off Gallery. http://www.auctionthegallery.com
2 christiangustafson // Aug 28, 2009 at 9:42 pm
A real auction has no minimum bid.
3 kent // Aug 31, 2009 at 9:01 am
Some auctions have “no min” bids. However most “real auctions” do have min bids, for obvious reasons.
4 rossjordan // Aug 31, 2009 at 4:20 pm
Many auctions don't have a minimum bid, but instead have a reserve amount. Pretty well any auction for high priced items has a reserve to prevent a small auction turnout from becoming a giveaway.
5 ADS // Sep 2, 2009 at 11:08 am
Has anyone visited this project? It'd be nice to get a unit at the prices listed but as always it gets to unreasonable price per sq ft levels.
6 Mark // Sep 22, 2009 at 10:58 am
I am an owner of one of the Brix condominiums on Capitol Hill and I think it is important to let people know that while these are definitely very aesthetically pleasing units in an amazing location; the service, support and construction is heavily lacking. It has been an uphill battle with Schnitzer from the beginning. Not only have I had to fight and scream to get them to complete tasks by which they were contractually obligated, but the overall “cost cuts” that were implemented in order to complete this building is astonishing. It's sad that my wife and I have spent so much money, (WELL beyond what anyone at this auction will pay) and our living experience has been so tattered with issues. We are supposed to LOVE this place and now that there is no chance of getting what we've paid for it in a resale, we are stuck with a home that isn't great to live in. In my opinion, Schnitzer needs to revisit the definition of home?
7 Mark // Sep 22, 2009 at 5:58 pm
I am an owner of one of the Brix condominiums on Capitol Hill and I think it is important to let people know that while these are definitely very aesthetically pleasing units in an amazing location; the service, support and construction is heavily lacking. It has been an uphill battle with Schnitzer from the beginning. Not only have I had to fight and scream to get them to complete tasks by which they were contractually obligated, but the overall “cost cuts” that were implemented in order to complete this building is astonishing. It's sad that my wife and I have spent so much money, (WELL beyond what anyone at this auction will pay) and our living experience has been so tattered with issues. We are supposed to LOVE this place and now that there is no chance of getting what we've paid for it in a resale, we are stuck with a home that isn't great to live in. In my opinion, Schnitzer needs to revisit the definition of home?
8 How to Participate in a Seattle Condo Auction :: Seattle Condo | Seattle Travel, Vacations and Tourism Guide // Jan 25, 2010 at 5:59 pm
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