Dallas High-Rise Condos Sell at Auction
Jul 21, 2010 11:29 AM, By NREI Staff
The Metropolitan, a high-rise condominium in Dallas, has sold all 35 of its residences for more than a combined $6 million. Auctioneer REDC oversaw the sale before 400 attendees at the Downtown Sheraton Dallas.
Converted from a 1970s office tower, The Metropolitan underwent a $50 million renovation that included the construction of a six-story parking garage topped by a pool deck. It overlooks the Davis Building, the Magnolia Hotel, the Mercantile Building, Reunion Tower, the SPG Building, the Wilson Building and the Santa Fe Building.
“The Metropolitan has a mid-century modern look in a growing urban community in the heart of downtown Dallas,” says Jeff Frieden, chief executive officer of REDC.
Based in Irvine, Calif., REDC provides real estate auction services nationwide as well as brokerage services, asset management, short sale facilitation and title insurance. Its primary clients include residential and commercial mortgage lenders.
