Newspaper Story: Our client, Kennedy Wilson Auction Group was featured in a news story about an upcoming Auction in Houston, Texas.
Auction planned for 27 beachfront condos on Island
Resort style living is everyone’s dream but by the end of Sunday, June 6, several dozen homebuyers can look forward to waking up to sun, surf and an enviable lifestyle at Palisade Palms, a club-class, high-rise condominium development in Galveston.
International real estate investment and services company Kennedy Wilson will conduct an inventory reduction auction for 27 of the beachfront condos, making homebuyers’ dreams come true in the process.
Kennedy Wilson’s auction for 27 beachfront condominiums at Palisade Palms will begin at 1 p.m. on Sunday, June 6 at The Omni Houston Galleria, located at Four Riverway in Houston. The auction is estimated to last approximately one hour and registered bidders are advised to arrive no later than noon.
The deadline for registration is 5 p.m. on Thursday, June 3. Early registration is highly recommended, as auction day registrants will be limited to the purchase of only one home and no broker registrations will be accepted on auction day.
Galveston has long been a preferred location to live, work and play because of its warm temperatures, plentiful sunshine and close proximity to longstanding employment centers in southeast Texas and the Houston metropolitan area.
Starting bids range from $125,000 to $375,000 for the designer condominiums, which were previously priced at $299,000 to $1.3 million. The 27 condos up for auction provide 1,044 to 2,767 sq. ft. of living space and include four spectacular penthouses. With starting bids this low, registered bidders have an excellent chance of owning a premium residence at unbelievable prices.
“Prime beachfront housing is in short supply everywhere,” according to Rhett Winchell, president of Kennedy Wilson’s Auction Group, “and as the old expression goes, ‘they aren’t making any more beaches’.” Winchell said that “Palisade Palms offers homeowners an unbeatable combination of luxurious accommodations and magnificent quality of life. Best of all, Kennedy Wilson’s proven auction format means resort style living has never been so affordable.”
Kennedy Wilson, which leads the nation’s auction industry, conducts hundreds of real estate auctions across the U.S. and Canada. The June 6 auction at Palisade Palms offers auction winners a great opportunity to realize maximum savings and for the developer, an ideal way to sell standing inventory. “By selling 27-condos on auction day, everyone is a winner,” Winchell added.
Palisade Palms is a sophisticated, high-rise condominium community comprised of twin point towers offering panoramic views of the Gulf of Mexico and Galveston Island. This world-class development on Galveston’s East Beach is the first on-the-beach condominium project to be built on Galveston Island for more than two decades. The unique, radial design of the two 27-story towers situated high above the sand and surf allows residents to enjoy spectacular, unobstructed scenic vistas, either from expansive picture windows or from spacious private terraces equipped with optional outdoor summer kitchens.
A wealth of enviable amenities adds to the superb quality of life that residents of Palisade Palms enjoy. An infinity edge swimming pool and spa style hot tubs enhance the community’s resort atmosphere – at Palisade Palms, every day is a vacation day! A state-of-the-art fitness center, refreshment bars and cafes, and a games and media lounge offer unparalleled recreation and relaxation. Even pets are pampered at the lushly landscaped Bark Park and a dedicated relief station.
Successful bidders at the June 6 auction can choose from a range of excellent financing programs through Alterra Capital Mortgage. Buyers can boost their savings even more via a special initiative available only to auction day purchasers who arrange financing from Alterra Capital Mortgage. Under the terms of this incentive, the seller will credit $5,000 toward non-recurring closing costs at the close of escrow to buyers who close escrow within thirty calendar days of the auction.
Kennedy Wilson is inviting registered bidders to a “How to Buy at Auction” informational seminar at Hotel Galvez, 2024 Seawall Blvd. in Galveston., beginning at 1 p.m. on Sunday, May 30. This free seminar gives potential bidders an excellent opportunity to familiarize themselves with the auction process, review the auction’s terms and conditions, have their questions answered and walk through the registration procedures.
The seminar will close with an exciting live practice auction hosted by an actual Kennedy Wilson auctioneer. Additional information on the “How to Buy” seminar and on the auction itself is available at the Palisade Palms Auction Information Office, open daily from 11 a.m. to 6 p.m. at 801 East Beach Drive in Galveston. Brokers are welcome.
Kennedy Wilson has also set up a specially designed auction Web portal for registered bidders who may be unable to attend the auction in person but still want to participate. To learn more about the online auction portal and to access more information on the auction, please visit the Palisade Palms Auction website at www.PalisadePalmsAuction.com.
About Kennedy Wilson Auction Group
Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, Ca., with 22 offices throughout the U.S. and Japan. The company has been a leading force in the auction industry since 1977. For more information, visit www.bidkw.com or www.kennedywilson.com.
(News release and photos courtesy of Hudes Communications International)