Condo Source: Waterfront Square Auction

We've talked before about Waterfront Square, some successful short sales we've had at the riverfront condominiums, and why we were concerned about the plummeting values that we were seeing there.

Now, Philly.com is reporting that the 35 luxury condos are up for auction from $195,000 - $415,000, at price reductions of over 50%.  We have been noticing a few condo auctions this year, but this one is particularly interesting because of the condo's proximity to the new SugarHouse Casino, which we wrote about earlier today.  The story mentions that the opening of SugarHouse has been seen as a plus for Waterfront's current residents, as it has brought development to the area.

The auction is scheduled for  Sunday, Nov. 21, at 4 pm, at the Hyatt Regency Philadelphia at Penn's Landing, 201 S. Columbus Blvd. There will be an Open House Preview through Nov. 20.

Related:

Philadelphia Short Sales – Another Successful Short Sale in Waterfront Square !

Condo Source: Waterfront Square

Meet Your Neighbors: Borrowing a Cup of Sugar