100% of Dallas Metropolitan Condo Units Sell at REDC Auction Saturday

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400 People Pack

These are wonderful residences in an exclusive community that were purchased at attractive prices. Many people took advantage of this unique opportunity to be at the heart of this vibrant area at a price they can afford.

All 35 select high-rise condominium residences at The Metropolitan at 1200 Main Street in Dallas were sold at auction Saturday before a crowd of 400 at the Downtown Sheraton Dallas. The auction was conducted by by REDC, the nation’s largest real estate auction firm.

“This auction was a great opportunity for buyers to gain ownership in a premier city,” says Jeffrey Frieden, CEO of REDC. “These are wonderful residences in an exclusive community that were purchased at attractive prices. Many people took advantage of this unique opportunity to be at the heart of this vibrant area at a price they can afford.”

To view REDC's schedule of future auctions, go to Auction.com.

The Metropolitan in Dallas was converted from a 1970s office skyscraper and underwent a $50 million renovation resulting in an elegant building with an upscale, residential feel. The construction included a new six-story parking garage topped by a pool deck and balconies cut into the tower’s façade to enhance the panoramic views of the downtown skyline.

“The value of the residences at The Metropolitan, for the location, view and amenities, is great,” Frieden says. “It has a great mid-century modern look and feel that is very appreciated by all the residents. Plus, it is in a growing, vibrant, thriving urban community in the heart of downtown." The latest Census Bureau figures show that the Dallas-Fort Worth metropolitan area added more residents than any other city in the United States from April 2000 through July 2009.

Residents at The Metropolitan have some of the best views of downtown architecture, overlooking the Davis Building, the Magnolia Hotel, the Mercantile Building, Reunion Tower, the SPG Building, the Wilson Building and the Santa Fe Building.

“If you’re looking to buy in today’s housing market, now is the best time,” Frieden says. “Today’s pricing and low interest rates have created a perfect storm for home buyers. This is a very unique period in the real estate market.”

These condo auctions are among the hottest in the real estate housing sector. REDC has held similar auctions in Miami, New York, and Las Vegas. Some residences have sold for nearly 50% less than its previous high values.

Rick Weinberg | VP, Public Relations
Real Estate Disposition LLC| http://www.AUCTION.com
1 Mauchly, Irvine, CA 92618
Direct/Fax: (949) 639-3558 | Mobile: (949) 648-3815

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