24 new Boston lofts to be auctioned Oct. 6 

Twenty-four new condominiums at DNA Lofts at 944 Dorchester Ave. in Dorchester will be auctioned at 7 p.m. Thursday, Oct. 6, at the Colonnade Hotel, 120 Huntington Ave.

The minimum bid, starting at $115,000, is for a 655-square-foot unit and includes an outdoor parking space.

Topping out at $275,000, the starting bids are between 49 and 60 percent below their last asking price.

The Davis Companies acquired the property for $6.5 million in March, completed the unfinished units and added the amenities that were planned by the original developers.

Just 17 had been sold, and about two dozen had not been completely built out before the Davis Companies took the project over. In addition to the two dozen lofts to be auctioned, there are seven other market-rate lofts available.

(There are also eight lofts designated as affordable, and they will be sold at a later date.)

This is the second time that the Davis Companies purchased a property at auction with the intent to auction it again shortly thereafter. Last year the Davis Companies bought the Fenway development called Audubon Park and sold it six months later.

Velocity Marketing Services (VMS), which managed that auction, is handling the DNA Lofts auction as well; Ken Cullum will be the auctioneer.

The kitchens in these units have stainless steel appliances, including gas ranges, stone counters and glossy cabinetry.

The project began four years ago, when two new four-story buildings were constructed at the north and east ends of a three-story brick building on Dorchester Avenue, that was ccrescentonstructed in 1929.

The historic building originally housed the Meisel Press Manufacturing Company, which produced printing presses and gears.

The DNA Lofts comprise 59 units in three connecting buildings. They share the same roofline, and the new structures have a bright blue parapet and light blue cornice to give the development a distinctive character. Atop one of the new buildings is a roof deck.

The lofts to be auctioned are scattered among the three buildings and range in size from 655 square feet to 1,648 square feet, and all are ready for immediate occupancy.

They offer a mix of 30 different layouts, and for additional fees the owner is offering upgrades, such as a dividing wall, a kitchen island, a glass shower door or a washer/dryer.

Many of the condos overlook a landscaped courtyard, and they also have private balconies.

Two of the homes have mezzanine lofts. The ceiling height ranges from 10 to 16 feet, and huge windows let in abundant natural light. The flooring is vertically cut bamboo, smoky oak or polished concrete.

Several lofts boast exposed bricks and beams. The kitchens are contemporary with granite countertops, glass mosaic backsplashes, glossy European-style cabinetry and GE stainless-steel appliances, including gas ranges.

All the baths have oversized ceramic-tiled showers; many of the washer/dryer hookups are in a laundry closet inside the bathroom.

In addition, most of the condos have private terraces or balconies, and all have access to the roof deck, furnished with outdoor tables and chairs along with flowering plants and containers. The views include the tower of Blessed Mother Teresa Church, Downtown Boston, the Dorchester Heights Monument and the Bayside Expo and Pleasure Bay.

Other amenities include a large community room with access from Dorchester Avenue and a private courtyard off Crescent Avenue, created by the U-shaped complex and enclosed by a black iron fence.

New landscaping added evergreens and shrubs and colorful chrysanthemums.

The 1,332-square-foot model, Unit C38, is entirely open, defined by the arrangement of the furniture. Its starting bid will be $225,000.

The outdoor parking and garage parking are accessed from Crescent Avenue.

An outdoor parking space is included with each unit, but a garage parking space can be purchased for $25,000 and is offered on a first-come basis.

The outdoor spot would have to be forfeited though.

“We purchased DNA Lofts at a price point that gave us the ability to completely update and reprogram the amenity spaces and to finish unit improvements at a luxurious level,” Jonathan Davis, founder and CEO of the Davis Companies, said in a prepared statement.

“Even after making these upgrades and transforming the property, we believe we are still offering a once-in-a-lifetime purchasing opportunity in a consumer-oriented buying process where prospective homeowners will determine market value.”

“With prices as high as they are in Greater Boston right now, and with such limited inventory of newly developed condominiums, the auction for DNA Lofts brings a truly rare opportunity to prospective homeowners looking for affordable luxury alternatives in close proximity to Downtown Boston,” said Sue Hawkes, president and CEO of VMS.

Year-to-date, the median condo sale price is $181,500 in Dorchester; in Boston proper, it is $545,000, according to Banker & Tradesman.

“The location – a six-minute walk from the JFK/UMass MBTA station – will also be a great draw for buyers who want to live in South Boston or the South End but don’t want to pay the premium price.”

All the residents of DNA Lofts have access to a large roof deck that has been supplied with outdoor tables and chairs and flowering plants.

Financing is available to prequalified buyers, said Hawkes. The preferred lender is Wells Fargo Home Mortgage, and a representative is on site during the open house hours, she said.

The development has both FHA and Fannie Mae approval, which would allow for writing mortgages at a low interest rate. A $1,000 credit toward closing costs will be given to buyers who use the preferred lender, Hawkes said.

Today’s low interest rates and the low down payments give buyers an opportunity to obtain housing for lower than their rental costs, she added.

Barkan Management Company manages the complex. The condo fees, which range from $277 to $645 per month, include gas heat and hot water. All the homeowner pays is the electricity.

Model units are open daily for a preview between noon and 6 p.m. Monday through Friday and from noon to 5 p.m. Saturday and Sunday through Oct. 6. Thursday hours will be extended to 7 p.m.

Advance registration for the auction is required. To register, visit www.dnabostonauction.com, send an email to info@dnabostonauction.com or call 617-436-4949.