Westfield, NJ – September 13, 2010 – (RealEstateRama) — A major residential development site in Raleigh, N.C., with approval for 126 condominium units will be on the auction block on Wednesday, Oct. 13.
Located in the “The Residences at Meadow Wood Park” community, the development site is inside the Beltline, just south of I-440 on Atlantic Avenue, minutes from downtown and North Hills and close to shopping, Research Triangle Park and the airport.
Rowell Realty & Auction Co., Inc. of Moultrie, Ga. in conjunction with Max Spann Real Estate & Auction Co., has scheduled a sealed bid auction so that potential bidders can submit their offers. Detailed property information packages are available that include: site approvals, blueprints, deeds and the terms of the sale.
These can be obtained at Raleighcondauction.com.
“The site is fully approved for construction,” said Thomas W. Rowell, the auctioneer. “This is a perfect opportunity for a developer to skip what would normally take two to ten years for approvals.”
All the common amenities for the Residences at Meadow Wood Park have already been built, including a luxurious clubhouse with a kitchen and community gathering area, lush landscaping, decorative fountains and greenways, an exercise room and a private pool.
The existing two condominiums buildings at the Residences at Meadow Wood Park were built in ((2008)) and are fully sold. The remaining 126 condominiums or apartments are broken up between the three to be built building sites. The property is owned by a bank, which has ordered the sale.
Rowell said Meadow Wood Park was conceived and approved for construction at a time when the real market was much stronger. The economic downturn has created unique opportunity, as banks begin to sell off large development sites they acquired through foreclosure.
To take the next step, call 800-323-8388 for the property information package and pre-registration form.
Max Spann, the marketing consultant, is a New Jersey-based full-service real estate auction and marketing firm that provides buyers and sellers the means to effectively and expeditiously transact business.
Rowell is a well established and reputable auction firm that specializes in online real estate auctions and on site land and farm auctions. They market a wide range of auction needs from the very small estate sale to the large corporate commercial projects. This includes (REO) bank owned auctions, foreclosure auctions, bankruptcy auctions, single family home auctions, as well as land auctions, farm auctions, equipment auctions, and estate property.