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Lumen Press Release on Auction

By July 13, 2009


Thought some folks would be interested to see some of the numbers in their press release. 80 registered buyers, 1,200 people toured, many cash buyers.

SEATTLE – Sixteen winning bidders earned great value this past Saturday when the remaining available condominium homes at the LUMEN development at Seattle Center in downtown Seattle were sold at a developer-sponsored auction.

Interest was high as more than 80 registered buyers attended the event to bid on the properties, which was held at the Grand Hyatt hotel in Seattle, co-sponsored and coordinated by Property Solutions Group and TeamBuilder Auction Group. Over 1,200 people toured the property during the auction open house during the past six weeks resulting in more than 100 pre-qualified and pre-registered buyers. Many of those who pre-qualified were cash buyers, some of whom travelled from as far as Vancouver B.C. for the auction.

The 16 properties, ranging from one-bedroom one-bath homes to two-bedroom homes with city views, were sold in a little more than an hour. The average price per-square foot for all the properties sold was $340, or an average of 136% of the minimum bid price. The auction process was a success, according to LUMEN developer Alan Winningham of 500 Mercer Partners, LLC.

“This was a win-win situation for the homebuyers, for the LUMEN community, for our lender, and for the development/auction team. The bidding process went smoothly as the bidders were well-prepared and engaged in the auction process. The end result is that these homeowners bought terrific new homes at once-in-a-lifetime pricing at one of downtown Seattle’s premier residential condominium communities,” Winningham said.

One final, fully customized LUMEN condominium home – with its own hot tub and secured parking garage – will be auctioned on Saturday July 25, 2009 at the LUMEN building. The two-bedroom plus den, three-bath, courtyard unit was removed from the catalogue because it was still under construction at the time of the auction. To preview the condo and register for the auction of this single unit, interested bidders should contact Koket Fowler of TeamBuilder Auction Group at 206-443-3800 or [email protected]. The condo will be available for viewing this Saturday and Sunday during an open house to be held from 10 am – 6 pm.

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