25 Bidders Vie For North End Income Property Sold For $2,425,500

Boston, MA (PRWEB) August 05, 2012

JJManning Auctioneers, a leader in the accelerated marketing and disposition of quality real estate, is pleased to announce the sale for $ 2,425,500 at an Absolute Auction of 9-9A Charter Street in Boston held on Thursday, August 2, 2012 on behalf of the recently relocated Saint Joseph Society.

In a prime location close to the intersection with Hanover Street, this fully leased income property is a circa 1900 yellow brick 5-story mixed-use building offering 7,300+/- sf. of finished area, a full basement, commercial unit with distinctive entry featuring Gothic arch windows, and 7+/- one-bedroom apartments.

At the auction, more than 100 spectators crowded the street to watch the competition among 25 registered bidders representing many of the areas top real estate investment and management firms, each with $ 75,000 in certified deposit funds in hand. Firm President and auctioneer, Justin J. Manning, jump-started the action with a series of broker pre-registration opening bids leading into an active round of live bidding, culminating in a sale price of $ 2,425,500 — close to tripling the real estate tax assessment of $ 831,000 for this income property.

No stranger to North End real estate, in November of 2010, JJManning Auctioneers sold a 10,000+/- sf. mixed-use building with a restaurant and 6 apartments at 12 Parmenter Street for $ 4,455,000.

JJManning Auctioneers sells high value commercial & residential real estate exclusively at auction. With a full schedule of upcoming auctions, the firm is currently accepting consignments for the 4th Quarter of 2012.

About The Company

JJManning Auctioneers provides expert accelerated marketing and asset disposition solutions to Fortune 500 companies, REITs, corporations, government agencies, financial institutions, REO portfolio managers, small businesses, and private individuals across America. Since 1976, JJManning Auctioneers has successfully marketed and sold over 14,000 commercial, industrial, and residential real estate properties.

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