A Detroit developer is taking an unconventional path to sell off remaining condo units at Riverfront Condos and
the Ellington.
Excerpt:
With 49 units remaining at his two Detroit condo projects, Peter Cummings is taking a unique approach to selling them.
Today,
he’s starting the advertising campaign for a one-day auction in which
he’ll try to sell off the remaining units at the Riverfront Condos and
the Ellington.
Through the process, he’s using a minimum bid
of $65,000 for a one-bedroom at Riverfront and $95,000 at the
Ellington. While he expects that the minimum bids will grow, he’s
willing to risk selling the units for half what he sold them for in
past years.
Read the entire article
here.
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