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Twenty-eight luxury condominiums in Cambridge will go on the auction block this month as part of an effort by Beazer Homes to "close out" a waterfront community that has experienced slow sales. The two-bedroom homes are the final phase of The Residences of River Marsh, a 48-unit community on Heron Boulevard in Cambridge, near the River Marsh Golf Club, Hyatt Regency Chesapeake Bay Hotel and Choptank River. The auction will start at 1 p.m. May 31 at the Loews Annapolis Hotel, 126 West St. in Annapolis. Bidding will start at $75,000, from the previous asking price of $800,779. Beazer is holding the auction "as a way to accelerate sales," explained Bob Dann, vice president of Max Spann Real Estate & Auction Co. "Sales were slow. ... They have a good product. People were not coming to look."
Edward Gunts
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