Thursday, October 25, 2007

Alexandria Condos Going to Auction



On Sunday the 28th, Parkside Alexandria is due to auction 30 remaining condos in the 378-unit complex in Alexandria, VA. The Parkside, on N. Van Dorn Street, was originally an apartment building, converted to condos by Mid-City Urban, which claims on its website to have nearly $1 billion in housing units on the east coast. Sales for the Parkside began in early 2004 when condominium sales were in their hayday, but reduced pricing was not sufficient to move the remaining units that began delivery 18 months ago. Renovation work completed on the project in January of this year. According to the development page, the remaining units will auction at a minimum bid of $225,000 for units that had at one point started at $279,000.

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