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.

Flash Back Forward To Beacon Two-Bedrooms Asking Under $600,000 [SocketSite]

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

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