Anson House Condo Auctions April 30 – A heads up!

For the latest news on this, seem my most recent post – Update: Anson House Condo Auctions.

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This is not a warning, rather it is more of a heads up…

The Anson House Condominiums are coming up for auction on April 30th, apparently led by The National Auction Group.   Here is their advertising headline…

Luxury Condominiums in the Charleston Historic District

1, 2 and 3 bedroom condos to choose from in a premier location in Downtown Charleston. Breathtaking views of the harbor, Cooper River Bridge, Downtown & the park make Anson House all the more special.

All of this is true.  What is NOT an accurate representation of the condos available for sale, are the photographs they are using.  Click that details link below.

1011953 – Details: 2 LAURENS ST, #P2, CHARLESTON, SC – $1,925,000

Do those photos look familiar when you compare them to the ones on the auction website?  Why, yes they do. They are the same as the ones being used to promote the Anson House auction.  But here’s the problem. That Penthouse (which by the way is stunning) sold recently and there are no others available. The other condos do not look like that.  They do not have 15+ foot ceilings. They do not have expansive wrap-around terraces.  So potential Buyer, please manage your expectations if you are excited by those photos.  The condos are nice, and certainly luxurious, but Penthouse, they are not.

 

A little history of Anson House

So you may or may not be aware of the Anson House’s painful past.  A vision of the rising frenetic real estate market in 2005, built from 2006 to early 2008, the project neared completion just as the stock market tanked in 2008.  Since many of the condos were pre-sold, they managed to eek out about 13 sales (out of 32) following the crash.

But it wasn’t enough.

Starting in July of 2009, there was only one additional sale in October, and none after that.  And then came the worst part…the developer of the project, a wonderful family man and really nice guy, took his own life around March 1, 2010.

Bank of America began the foreclosure process in July 2010 due to missed payments then the entire remaining project was purchased at auction in December of 2010.  Though the condos never went off the market, at the end of February 2011, asking prices were dropped according to the new owner’s wishes.

But it still wasn’t enough.

So here we are today, with only 5 additional condos sold in the past year (including that Penthouse) and 15 still available.  Here they are below with current pricing.  There are 3 one-bedrooms, 11 two-bedrooms, and 1 three-bedroom from what I can see.

1011840 – Details: 2 LAURENS ST, #1E, CHARLESTON, SC – $550,000
1011848 – Details: 2 LAURENS ST, #2F, CHARLESTON, SC – $650,000
1011893 – Details: 2 LAURENS ST, #2E, CHARLESTON, SC – $650,000
1011905 – Details: 2 LAURENS ST, #3F, CHARLESTON, SC – $795,000
1011915 – Details: 2 LAURENS ST, #1C, CHARLESTON, SC – $825,000
1011927 – Details: 2 LAURENS ST, #1D, CHARLESTON, SC – $875,000
1011919 – Details: 2 LAURENS ST, #3H, CHARLESTON, SC – $895,000
1011922 – Details: 2 LAURENS ST, #3C, CHARLESTON, SC – $1,025,000
1011938 – Details: 2 LAURENS ST, #4C, CHARLESTON, SC – $1,295,000
1201195 – Details: 2 LAURENS ST, #1A, CHARLESTON, SC – $1,350,000
1011943 – Details: 2 LAURENS ST, #2B, CHARLESTON, SC – $1,395,000
1202371 – Details: 2 LAURENS ST, #3B, CHARLESTON, SC – $1,495,000
1011944 – Details: 2 LAURENS ST, #4B, CHARLESTON, SC – $1,595,000
1011947 – Details: 2 LAURENS ST, #4A, CHARLESTON, SC – $1,895,000
1011950 – Details: 2 LAURENS ST, #4F, CHARLESTON, SC – $2,495,000

Or Click Here to go view all listings at once.

I have no idea what these will sell for, but you can bet I’ll be there to find out.

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2 Responses to Anson House Condo Auctions April 30 – A heads up!

  1. roskilan says:

    What a disappointment… quite the unprofessional auction IMO

    • I am sure the National Auction Group did the best they could do given the situation with completely unrealistic sellers. I’d be furious if I had driven in from out of town. Stay tuned for my update post.

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