Sponsor inventory sells in 90-minute condo auction

Real Estate Weekly, Oct 30, 1991

Sponsor inventory sells in 90-minute condo auction

The entire condominium inventory at 100 Sterling Place sold out in just 90 minutes through an auction sale of 31 simplex and duplex residences at the four-story, new construction building in the heart of Park Slope.

More than 850 people attended the auction and nearly 430 registered to bid on the residences, according to US Auction, Inc., which conducted the auction/marketing program. Some 2,700 people visited the site during the four-week pre-auction sales period.

"The results of the Sterling Place auction once again shows the effectiveness of a good auction marketing program," reported Donald C. Hannah, president and CEO of US Auction. "In just 90 minutes, we sold an inventory duplexes all have private gardens, while skylighted penthouses have roof terraces. In addition, a large common garden is provided for use by all residents, while there is the availability of on-site parking in a private garage.

A varied mix of terraces, balconies and roof gardens bring lush greenery to this urban building. The first-floor that would have taken perhaps two years to sell conventionally."

The condominium homes at 100 Sterling Place are one-, two- and three-bedroom layouts offering from 627 to 1,452 square feet of living space. More than half are spacious duplexes, with living space in the style of a townhouse, and many feature spectacular views of the Manhattan skyline.