I spent a very relaxing Sunday in downtown Austin yesterday. I started it off with awesome breakfast tacos at Austin Java on Barton Springs...listening to jazz on the patio. That is quintessential Austin Texas!
After breakfast I headed over to the Sabine on Fifth Condos to check out several units that are being auctioned off. A total of 27 units....some 1/1 and some 2/2 units will be auctioned next Sunday Feb. 28, 2010 at 1:00 pm at the Downtown Hilton. They had a mock auction and an information session so that all the prospective buyers can do their due diligence. Lenders were also on hand.
The project has 80 total units and was a condo conversion of an office building built in the mid 80s. Features include tall ceilings....reported to be 14 ft....large arched windows...contemporary finish out....included parking....and a one year health club membership at a local hotel. While the complex does not have a pool...it does have an extremely convenient location to the Austin Convention Center, 4th Street Warehouse District, 6th Street restaurants and bars, and the proposed Waller Creek redevelopment district.
Units differ of course by view...always remember...not all condos are created equally! There are unpublished reserve prices though...it will be fascinating to see what the market will tell the developer that these units are really worth. One Bd/one baths bidding starts at $85,000 and for a 2bd/2bath...bidding starts at $135,000. Count on at least double those prices though....and next Sunday we will see for sure what they went for!
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