Thursday, December 20, 2018

Report: Thirteen East + West on the auction block

Last we heard anything about Thirteen East + West condos, there was a report that the recently constructed twin residences on 13th Street between Avenue A and First Avenue were to be the first major assets in NYC to be — drumroll — tokenized on Ethereum.

However, those blockchain plans didn't pan out. Now, as The Real Deal first reported, the developer, the Amirian Group, is auctioning off the condos for instant liquidity.

Per TRD:

Paramount Realty USA, a real-estate firm that specializes in auction sales, announced Wednesday that it would auction off the buildings ... which have a projected sellout of $37 million. Bidders will get to name their prices for some or all of the units, and a bulk purchase could lead to a discount of up to 25 percent...

And the details if you want to get in on the bidding....

Bidders who want to take part in the auction have to place their bids and a $500,000 deposit by Jan. 29. If there are multiple offers, the highest potential buyers will take part in a runoff open outcry auction.

And if you need to work on your hand signals for that open outcry auction...

Previously on EV Grieve:
Tracking the coming changes to East 13th Street between Avenue A and 1st Avenue

A look at the new luxury condos coming soon to East 13th Street

Temporary art and future condos on East 13th Street

Demo time for East 13th Street garages that will yield to luxury condos

A look at the residences coming to Thirteen East + West on East 13th Street

Full exposures at Thirteen East + West

Tales from the crypto: Thirteen East + West tokenized on blockchain

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