18 new Boston lofts sold at auction

Seventy-five percent or 18 of the condos at DNA Lofts, 944 Dorchester Ave., Dorchester, were sold at auction Oct. 6, realizing nearly $5 million sales.

The participation was good with more than 700 people walking through the building before the auction, said Sue Hawkes, president and CEO of Velocity Marketing Services, which managed the auction.

At the auction, many of the would-be buyers were representing themselves, although some brokers accompanied their clients. One real estate firm represented three of the winning bidders, she said.

Sale prices varied from $205,000 to $340,000, all above the minimum bids. Four of the buyers are adding onto their units, i.e. building walls and kitchen islands or installing washer/dryers, she said.

The remaining 13 units have been priced with the auction prices in mind. “The market was set at the auction,” Hawkes said.

One-bedroom units start at $225,000, two-bedroom lofts start at $279,000, and the penthouses begin at $365,000.

All include a parking space.

The DNA Lofts comprise 59 units in three connecting buildings and include a community room and an enclosed landscaped courtyard.

Model Unit A4 with a mezzanine has 1,361 square feet of space and two baths. Its new price is $340,000.

The Davis Companies acquired the property in March, completed unfinished units and added the amenities that were planned by the original developers. Hawkes said the Davis Companies is pleased with the sales and anticipates that all of the lofts will be sold by the end of the year.

A sales office is open Saturday through Wednesday from noon to 5 p.m.