The Ellington Lofts Auction

[belleislerunner]

Looks like around 75% of the units sold.

Cummings said the average sale price was 30 percent above the minimum at the Ellington and 145 percent above the sale price at the Riverfront.

Based on the promtion materials, starting prices at the Ellington were 95K and the Riverfront at 60K which would make the average "auction prices" in the 130-140K range for both developments.


http://www.crainsdetroit.com/article...FREE/905119957

[silverbeauty]

from the article:

>>>Cummings had promised to donate $1,000 from the sale of each unit to the Detroit Symphony Orchestra. He donated $35,000<<<

Good for you Mr. Cummings. The arts are losing most of their corporate sponsorship. I found out Saturday night that the Detroit Opera House lost 80% of their corporate sponsorship.

Thanks. Mr. Cummings.