Waterfront condos sold at steep discounts

29 of the 35 condos offered at auction at the gated Reef at Waterfront Square tower in Fishtown got sold, for an average of $329,000, in a 40-minute sale Sunday at the Hyatt Regency, by Accelerated Marketing Partners of New York, spokeswoman Emily Walsh confirms. 

The condos had previously listed for $470,000 and higher. Minimum bids started at $195,000. Walsh says her firm logged 74 registered bidders.

More on Philly's condo glut here.