Tribute Lofts auctions off condos

Metro Atlanta

Tribute Lofts auctions off condos

Photos: Tribute Lofts, a downtown condominium development, sold 26 units in an unusual one-hour auction at the Omni Hotel.

Tribute Lofts, the Old Fourth Ward condominium complex that recently won a design award, auctioned its condos Sunday at 1 p.m. at the Omni Hotel.

In the unusual one-hour auction, 26 units were sold. The owners chose to hold an auction because of the sluggish condo market.

Participants at the auction practiced showing their signs before the proceedings began. Among them was Caleb Atkins, 25, a Georgia Tech graduate who who ended up buying a two-bedroom, two-bath condo on the top floor. He paid $263,000, the highest price at the auction.

Brian and Greg Wohl are brothers who developed the new Tribute Lofts. After the auction, the project still has about 40 market-rate units left to sell, which will be reduced in price as a result of the auction, Wohl said. Tribute also has 10 unsold affordable-housing units.

This is a kitchen inside the Tribute Lofts. At the auction, minimum bid prices for the one-bedroom, one-bedroom-with-den and two-bedroom units ranged from $110,000 to $198,000.

A bedroom in the condo complex. The cheapest sale at the auction was $132,000 for a 795-square-foot one-bedroom unit that originally was priced at $183,900 -- a discount of 28.2 percent.

Participants filled in paperwork before the auction.

Among the features at Tribute Lofts is a rooftop whirlpool. Tribute, which recently won a new-construction award from Atlanta's Urban Design Commission, has sold less than half its 147 units. Many of the condos put up for auction had been under contract, but the deals fell through.

This is a photograph of the garden inside the Tribute Lofts, which is located at Freedom Parkway and Boulevard.

The design crew from TBS' "Movie and a Makeover" helped owner Caren West make the most of high ceilings and huge windows.

White furniture and dashes of color, as seen on this partial wall to the kitchen, warm up the concrete foundation.

West checks out the Atlanta skyline from her window.

The TBS designers created a dramatic effect in the living room with thick red curtains over shimmery red sheers.

Square white bar stools were shortened to match the counter height. The seats were re-covered in white to match the living room furniture.

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Tribute Lofts, the Old Fourth Ward condominium complex that recently won a design award, auctioned its condos Sunday at 1 p.m. at the Omni Hotel.

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