A handful of buyers were able to purchase nine condominiums in a downtown San Jose housing tower at auction, paying an average of just $31,900 each. Despite some controversy and skepticism, the auction proceeded, giving winning bidders an incredible deal.
Bidders, attorneys, a trustee representative and observers gather outside the Santa Clara County courthouse for the auction of condominiums in a downtown San Jose housing tower that’s located at 188 West St. James Street. SAN JOSE — In an opportunity most would-be Bay Area homeowners can only dream about, a handful of buyers snagged nine condominiums in a downtown San Jose housing tower at auction — paying an eye-popping average of just $31,900 each.
“This kind of pricing is unheard of in the Bay Area,” said David Taxin, a partner with Meacham Oppenheimer, a commercial real estate company that was not involved in the deal. Other units in the complex have sold for more than $500,000. A trustee’s representative ; Morgan Cahill-Marsland, an attorney with law firm Nixon Peabody ; and Maria Kao, an attorney with law firm Briscoe Ivester & Bazel, await the completion of an auction of condominiums within a residential tower at 188 West St. James Street in downtown San Jose. The auction was held outside the Santa Clara County Superior Court near the corner of North Market Street and West St. James Street.
The representative, who declined to identify himself, contacted Nationwide Reconveyance to discuss the court order, and after a lengthy consultation, proceeded with the auction.
Auction Condominiums San Jose Housing Downtown Buyers Prices
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