5th and Madison condos to be auctioned off

As Featured in the Seattle Daily Journal of Commerce

Written by Staff

Image Courtesy of SDJC

"Condo auctions have been common over the last year in Seattle as the market has tanked. At Gallery in Belltown starting bids were as much as 58 percent off the previous price. Dean Jones of Realogics Sotheby's International Realty said 44 Gallery condos sold at an average of 32 percent off their original list prices. Boston-based Beacon Capital Partners bought the former Union Bank of California Center in 2004 for $100.7 million."