Rocketts Landing Condos Up for Auction - 8NEWS - WRIC | News Where You Live

Rocketts Landing Condos Up for Auction

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RICHMOND, Va. (WRIC) - Riverfront condos at closeout prices: Rocketts Landing is putting 25 units on the auction block at a fraction of the original cost.

The condos at Rocketts Landing went on the market just as the recession set in.

"This community really came online during one of the hardest times we have ever seen in the real estate market," said Rocketts Landing Sales Manager Amy Broderick. "While a lot of units were sold pre-construction, there were a lot of people that backed out of those contracts."

The community's developer wants to continue with expansion plans, so the remaining one- and two-bedroom units hit the auction block in May at rock bottom prices.

"Some of the residences are up to 50-percent off, starting as low as 125-thousand," said Vice President of Operations for Accelerated Marketing Dan Gollinger.

The spacious, reduced-price condos have drawn a good deal of attention.

Potential buyer Bill Beville said, "I looked at approximately six or seven units and I thought there was one or two that saw promise as an investor."

The homes may be viewed now through May 19. Gollinger says they're even organizing a practice auction.

"We want the interested buyers to be as educated as possible about the process."

The condos will be auctioned May 20 starting at 7:00 p.m. at The Westin Richmond, located at 6631 Broad Street.

Copyright 2014 by Young Broadcasting of Richmond

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