The developer of Tribute Lofts, the contemporary condominium complex at Boulevard and Freedom Parkway, plans to auction 40 units June 22 at the Omni Hotel downtown. That “wasn’t a huge success,” said David Tufts, founder of the Condo Store and now president of the Marketing Directors, another condo sales firm. The minimum bids for the one- and two-bedroom units at Tribute Lofts represent steep discounts, ranging from 34 percent to 54. In March, 30 units at Wood Partners’ Solaire condo building in Orlando sold at auction for roughly 20 percent less than the original asking prices. Tufts said the Tribute Lofts auction might trigger a pause in Atlanta’s meager condo sales as prospective buyers wait to see what happens. read more
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