On Friday I met Jameson Real Estate CEO Chris Feurer and auctioneer Michael Fine of Fine & Co at 1400 North Lake Shore to learn more about the upcoming auction of condos in the Gold Coast high-rise. Here, Chris and Michael offer an overview of the development to date and explain how the auction process will work.
Unlike some condo auctions we’ve seen recently, the 1400 auction isn’t intended to bring the development to sellout, Michael says. RDM Development has picked out 47 homes (PDF) that it will consider selling; the first 15 will sell at minimum bids ranging from $50,000 for a studio to $200,000 for a three-bedroom home, followed by another 15 to be sold at reserve.
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