Accelerated Marketing Partners announced today that General Growth Properties, the developer of the Natick Collection condominiums, has hired them to auction off 42 of the roughly 180 remaining condos at the 215 unit complex. 20 of the "Nouvelle at Natick" condos (as recorded at the Middlesex Registry of Deeds) have sold since last October and there are 2 currently listed as under contract in the MLS. An article in this morning's Boston Globe mentioned there were 37 units either sold or under contract. The auction of the 42 units will be held on Sunday, Oct. 4. at the Crown Plaza Boston on Rt. 9 in Natick.

Minimum bids for the 14 one-bedroom and one-bedroom-plus-study units range from $160,000 to $210,000. There are 25 two-bedroom and two-bedroom-plus-study units with opening bids ranging from $220,000 to $315,000. There is also a 3 bedroom 1,774 square foot unit with an opening bid of $350,000 and 2 penthouse units with opening bids of $375,000 and $495,000 respectively.

General Growth Properties (the owner of the condos-a separate General Growth entity owns the mall) filed for bankruptcy back in April. Sale prices for the 20 units that have previously sold ranged from $369,900 for a 973 sq.ft., 1 bedroom first-floor unit to $1,499,900 for a 2190 sq.ft., 9 room, 3 bedroom, 3 full bath penthouse. For all sale prices go here.

By auctioning off these units, GGP should be able to determine the true market value of the remaining units and move the rest of the complex in a much more timely manner.

For more information call me at 508-397-6081. To find complete information about all the units that will be available for auction click here.

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