February 20, 2009
A Freshly Picked Apple In Our Basket For The Beacon (250 King #266)
The bank owned sale of 250 King Street #266 closed escrow yesterday with a reported contract price of $620,000. And yes, that’s 3.3% “over asking!” in industry speak. And likely with “multiple offers!”
At the same time that’s 17.3% under its recent tax assessed value ($750,000), 1.5% less than what the bank bought it back for in December ($629,142), and $524 per square foot for this two-bedroom condominium in The Beacon.
First Published: February 20, 2009 9:00 AM
Comments from "Plugged In" Readers
No surprise, its the Beacon.
Posted by: anonymous at February 20, 2009 9:07 AM
I hope the buyer gets a chance to enjoy it before the building's water and electricity get shut off. They have a nice little HOA/COA dispute going on over there.
Posted by: dd at February 20, 2009 9:39 AM
I remember last year someone snapped up a 1/1.5 REO @ 1000sf for 644k at the Beacon...can you say ouch?
Posted by: rinconhillbilly at February 20, 2009 10:02 AM
Shutting off utilities to residences is not done except in the most extreme circumstances. Having lawyers argue about bills is more efficient and has far less liability.
Posted by: Mole Man at February 20, 2009 11:11 AM