Atwater Place condos on auction block at deep discounts

Atwater Place condos on auction block at deep discounts

Credit: Accelerated Marketing Partners

Atwater Place in the Southwest Waterfront

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by By ERIC ADAMS, Kgw.com Staff

kgw.com

Posted on August 27, 2009 at 2:22 PM

Updated Thursday, Sep 17 at 1:44 PM

PORLTAND, Ore. -- Condominiums at Atwater Place in the Southwest Waterfront will be auctioned off at remarkably discounted prices next month, according to Accelerated Marketing Partners, the auctioneer, as first reported by the Portland Business Journal.

Units originally priced at $722,000 on the 15th floor will start at a minimum bid of $349,000, the says.

Less than two years ago a 19th-floor condo with 1,600 square feet and panoramic views of east Portland and the West Hills was marketed for nearly $800,000. Those units will be auctioned at $349,000 next month.

The auction website claims some one-bedroom units with up to 1,318 square feet will be auctioned for as little as $169,000, while two-bedroom units will start at $269,000.

In late 2007, the same one-bedrooms fetched nearly $650,000.

Atwater Place is 23 stories and houses 212 units. The auction starts at 4 p.m. at the Marriott Portland Downtown Waterfront on Sunday, Sept. 20.

reported as many as 800 condos sit unsold across downtown.

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