Financial Mines

Condo buyers have a week to look at 28 units going up for auction at The Classic Condominiums on Sunday, June 27. Available units include eight one-bedroom residences with starting bids of $150,000 to $185,000, 10 two-bedroom units starting at $230,000 to $255,000 and a four-bedroom unit starting at $400,000. The auction at The Classic, which has been holding open houses everyday, is expected to “set the market,” according to Jon Gollinger, co-founder of event organizer Accelerated Marketing Partners, which will sell another 27 units at The Classic based on final auction prices. In a June 3 article in The Advocate, Stamford condo builder Randy Salvatore said the auction won’t have much of an effect on area condo prices, while local condo seller Joan Harakal said it will bring prices down. Only time will tell.