Oceanside Terraces Sold on Auction Block

The Oceanside Terraces auction took place last summer, but we still receive calls weekly wondering about the disposition of these luxury urban condos.

The story unfolds:

It took some doing, but we were finally allowed into the auction room where high bidders would be able to purchase the remaining 29 residences at the Oceanside Terraces. We wanted to be able to report on the results (as we are doing now), but someone with Accelerated Marketing Partners tried to block our entry. An executive with the firm eventually intervened, and we were allowed into the room where approximately 100 registered bidders were seated.

The auction was orderly, and Eve Sieminski, Mike, Scott and I were able to see most of the bidding activity from where we sat at the back of the room. And in a little over an hour, the remaining 29 residences at Oceanside Terraces were sold. Winning bids ranged from a low of $405,000 for a 1986 sf condo on the 3rd floor north end of building, to a high of $781,000 for the prime ocean-facing 6h floor penthouse with over 2500 sf of living space. The largest residence and penthouse on the southeast corner of Oceanside Terraces has 2563 sf, a sweeping ocean view to La Jolla, and was sold at the surprisingly low price of $757,000.

Auction pricing?

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