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‘Creative’ sales take high-rise Waterfront Park Place to 90 percent sold; seven of 77 units remain for sale
Friday, December 4, 2009
Business First of Louisville - by Terry Boyd Staff Writer
Between an auction and conventional sales, Waterfront Park Place has sold many of its remaining units and is just short of a full house.
As recently as September, 21 units remained to be sold in the 77-unit downtown luxury high-rise.
Eight units were sold at a Nov. 17 auction for a total of $2.13 million, Waterfront Park Place executive director Joseph MacDonald said in an e-mail. Another six units were sold in conventional transactions.
That takes the distinctive building with the Coke-bottle-green windows to 90 percent sold from 80 percent before the auction.
The eight units sold at auction — in various stages of build-out out — ranged in size from 1,335 square feet to 3,433 square feet, for a total of 17,116 square feet.
The average per-square-foot auction price was about $138 per square foot, according to Barbara MacDonald, spokeswoman for Waterfront Park Place LLC, which controls the project for sole investor Eleanor Bingham Miller.
Auction ‘got people moving’
“We’re ecstatic,” said Joseph MacDonald, who oversees sales at Waterfront Park Place.
The auction was proof of the allure of the 23-floor tower as a status address even in a depressed real estate market, according to Joseph MacDonald, who is Barbara MacDonald’s husband. “It got people moving” as available units dwindle in the building, he said.
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