Solaria to Be New York City's First Luxury High-Rise to Use Auction Process on
November 22
NEW YORK, Nov. 9 /PRNewswire/ -- Arc Development announced the first luxury
high-rise auction in the Tri-State area for its Solaria development located in
Riverdale. It is believed to be the largest auction of luxury residences in
the Northeast, with 54 units up for grabs.
(Photo: http://www.newscom.com/cgi-bin/prnh/20091109/NY07869 )
Scheduled for Sunday, November 22 at 1 p.m. at Manhattan's Sheraton New York,
the auction will be conducted by Real Estate Disposition, LLC (REDC), which
has auctioned an industry-leading 50,000 properties for $6 billion in the last
two years.
"Everyone who visits Solaria loves what they see, from the spacious homes to
the wonderful building amenities," says Joseph Korff, president of Arc
Development. "We understand buyers are cautious in this current economic
environment and this will give prospects a unique opportunity to purchase a
luxury home at auction. It's our way of meeting the market. We believe this is
an ideal time to buy, as experts are now saying that the New York City real
estate market has stabilized and interest rates are at or near historic lows."
Solaria's spacious homes, which are currently listed from $660,000 to $4.35
million, will start auction bids as low as $299,000. Terrace and penthouse
homes, some in excess of 3,000 square feet, are included in the auction.
According to REDC CEO Jeffrey Friedan, auctions now play a major role in real
estate sales with ever-increasing numbers of developers, builders, and the
public, making auctions the preferred choice over conventional, time-consuming
and expensive sales methods.
"Consumers are just now beginning to understand how beneficial our auctions
are," he says. "We are already seeing enormous interest in the Solaria
auction. New Yorkers have been waiting for an event like this, the first of
its kind in over a decade."
Solaria is the highest building in the area and offers unprecedented views of
the Hudson River, Palisades and Midtown Manhattan. The unique development
includes onsite parking; a state-of-the-art fitness center; 24-hour doorman
and concierge; lounge and entertainment center; an indoor-outdoor children's
play area designed and furnished by Pottery Barn Kids; and the city's first
stargazing roof deck with telescope observatory.
Solaria's sales office is located at 640 West 237th Street in Riverdale. For
information, please contact us at 800-617-0961 or visit www.AuctionToday.com.
SOURCE Real Estate Disposition, LLC (REDC)
Anna LaPorte, +1-212-843-8048, alaporte@rubenstein.com, Rubenstein Associates,
Inc.
