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Condo units auctioned off

The Columbian
Published: April 11, 2010, 12:00am

PORTLAND, Ore. (AP) — Forty-seven units in Portland’s biggest condo tower were auctioned off Sunday in a two-hour sales blitz.

The sales at South Waterfront’s John Ross tower came at deep discounts. The condos had been listed for an average of $711,000 at the height of the housing market. They sold Sunday for an average of $316,000.

The auction was the second for a South Waterfront condo tower. The owners of the Atwater Place sold 40 condos at a September event.

The South Waterfront condo towers, conceived during the housing boom, have struggled to sell out during the recession and credit crisis.

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Information from: The Oregonian, http://www.oregonlive.com

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