Breckenridge, CO, Mar. 1-Last weekend, 82 condos in a new development in downtown Breckenridge sold out in six hours. The old "location, location, location" adage definitely came into play in this scenario, as the condos are ideally situated off of Main Street and are also within walking distance from the ski lifts.
About 200 people showed up at the offices of East West Partners, the developers of the Main Street Station properties. The condos, which ranged from $209,000 to $1.2 million, racked up a total sales of $41 million by the end of the day.
"We were thrilled," said Jack Wolfe, a partner at East West. "We had 140 interested parties scheduled through a reservation process. Still, we were conservative in our expectations and didn't realize how quickly this would sell out."
Colorado residents accounted for about 50 percent of the condo purchases. "We were attracted to the charm of Breckenridge, as well as the quality of this new development," said Don Unger of Ft. Collins. "We're looking forward to moving in!"
Wolfe added that on the heels of this success, East West will try to move up the next phase of the Main Street Station development, tentatively set for this fall.