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Money & Power, Real Estate & Home, Tuscany-Canterbury

Warrington Penthouse Sells for More than $700,000

0 Written by: | Friday, May 19, 2017 11:20am

Sellers accepted a sales figure “north of” $700,000 yesterday for a rarely available penthouse condominium at The Warrington, located at 3908 N. Charles Street.

Alex Cooper Auctioneers held an auction on the premises for Warrington Unit 1301, which has about 4,000 square feet of indoor and outdoor space, including a large wraparound terrace.

“Incredible views. Well taken care of. A prestigious, prestigious address,” said auctioneer Jon Levinson before the bidding began.

Bidding started at $600,000 and got up to $700,000. At one point, a man on the phone bid against himself. Everyone in the room could hear it because the cell phone was on speaker.

When the bidding reached $700,000, Levinson paused to confer with the sellers. When he came back to the room where the auction was being held, he told the bidders and observers that the auction was over.

“Ladies and gentlemen, a deal has been struck,” he announced. “It’s private. It will be public at settlement. It’s north of where we are.”

Levinson said afterwards that he couldn’t provide the name of the buyer or the exact sale figure, but the penthouse was sold. Under the terms of the auction, the successful bidder was required to add another 5-percent “buyer’s premium” to the sale figure.

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