The auction of the West Heating Plant in Georgetown is far from over days after the soft close of the General Services Administration eBay-style auction of the 2-acre lot and 20,000 square-foot building at 29th and K Streets, NW.
Though the soft close for the auction was 5 p.m. on Feb. 19, the auction will not officially end until 24 hours go by without a new bid.
Since Tuesday, 13 new bids have slowly pushed up the going price. A new bid must be at least $200,000 more than the previous bid.
By the end of the day Thursday, the winning bid had jumped to $11.5 million, up from $6.95 million that morning. Anonymous Bidder#05 was in the lead Thursday evening, having joined the fray Wednesday, a day after the auction was potentially set to close.
It could be some time before the final price is set. Once the auction closes, GSA will go about awarding the property and will announce the winner at that time.
Patch will continue to monitor the auction closely.
Read more on the auction here:
- Bids Roll in for West Heating Plant
- Bidders Fight for West Heating Plant in Final Hours