News

Accelerated Marketing Partners Conducted Oct. 4 Auction for Nouvelle at Natick

Natick, MA (Oct. 21st, 2009) – In an unprecedented event for the Greater Boston area, homebuyers purchased 55 one-, two- and three-bedroom homes – totaling more than $20 million in sales – in just two hours at the Oct. 4 Nouvelle at Natick real estate auction conducted by Accelerated Marketing Partners (AMP). Minimum bids for the residences started at $160,000, which was up to 72 percent below last asking prices. Accepted bids ranged from 36 to 64 percent below last asking prices, and Nouvelle at Natick will now resume its conventional sales and marketing program with price points reflecting those established by the market on auction day.

“In this challenging market, real estate auctions are the proven, tried-and-true way of jump-starting sales for new developments, both in Boston and around the country,” said Jon Gollinger, co-founder and east coast chief executive officer of AMP, a full-service real estate marketing firm that has sold more than $600 million of residential real estate through events around the country in the last 18 months. “While 44 homes were initially available at the auction, we added residences due to the overwhelming response from nearly 450 attendees. The developer now knows what the market is willing to pay for Nouvelle homes and will price the remaining 126 homes accordingly, to continue conventional sales and marketing efforts.”

More than 7,000 individuals visited Nouvelle and more than 4,900 unique visitors logged onto the auction Web site since the sale was announced Sept. 10. The residences were auctioned at 1:00 p.m. at the Crowne Plaza Boston-Natick Hotel, located at 1360 Worcester St., Natick, Mass.

AMP conducted a practice session the night before the auction, where potential buyers learned how to bid and were taught the relationship between auctioneer and prospective buyer. All bidders were required to register at the auction information center, to inspect homes and to present a $10,000 cash-equivalent before bidding at the auction. Bidders were also required to bring a personal check to enter the auction, should their bids be accepted.

Located at the Natick Collection, New England’s premier living, dining and shopping destination, including the state’s first Nordstrom and the area’s only Neiman Marcus, Nouvelle at Natick features 215 condominium residences. The luxury development provides a sophisticated lifestyle that combines the comforts of suburban living with the kinds of amenities offered at five-star hotels. Available for immediate occupancy, the homes feature spacious floor plans and exceptional quality materials and finishes. Residences boast hardwood floors; 9-and-10-foot ceiling heights; acoustical treatment between floors and demising walls; energy-efficient, anodized aluminum windows with low-e glazing and operable sashes; solid five-panel shaker-style wood doors with brushed stainless steel entry hardware; wiring for whole-house audio; and many offer stunning views of Parc Nouvelle, a 1.2-acre garden oasis by landscape architect Martha Swartz that features winding boardwalks, native grasses, flowers and trees, and a putting green. Kitchens possess custom hardwood cabinetry with soft-closing hardware; under-cabinet accent lighting; natural granite countertops; full-height backsplashes with ceramic subway wall tiles; breakfast bars or kitchen islands; double-bowl, under-counter sinks by Kohler; and appliances by KitchenAid.

Residents at Nouvelle at Natick enjoy a host of amenities, including a 24-hour concierge; full-time building manager; secured underground parking; access to Club Nouvelle and Parc Nouvelle; as well as complimentary membership to the on-site Bosse Sports & Health Club. Bicycle and on-site storage is available, and a discerning staff will also coordinate executive moving, dining, spa, pet, and travel services.

Located in the prestigious Metro West suburb of Natick, Nouvelle at Natick is conveniently situated near major roadways like the Massachusetts Turnpike, Route 128, Route 495, Route 9, Route 30, and Speen Street. The vibrant community is also a quick ride away from the hustle and bustle of downtown, the Boston Common, Boston Symphony, Newbury Street, Fenway Park, and TD Banknorth Garden.

Preferred financing for Nouvelle at Natick will continue to be provided by MetLife Home Loans and Wainwright Bank.

For more information about the remaining and wide-selection of condominiums, please call 1-888-341-9607 or visit www.nouvelleatnatick.com.