An auction for the DNA Lofts apartments in Dorchester was halted last night after 15 swings of the hammer.

The event at Boston’s Colonnade Hotel started briskly, with the first few units going for 61 percent to 66 percent above the minimum bid, with prices per square foot ranging between $292 and $263. Minimum bids ranged from $115,000 to $185,000.

The condominium project has a total of 59 units, 42 of which were unsold at the time of the auction.

A total of 25 units were slated for auction, and strong opening bids prompted the addition of three more to the sale during the early going. But as larger units came on the block, bidding slowed and prices declined, with two units going for only 22.7 percent above the minimum bid, for a square foot price of $204 per square foot. Only 15 units ended up on the block.

Six units were sold following the close of the auction. The remainder of the units will be sold traditionally, auction officials said.

"We’ll pick ‘em off over time," said Sue Hawkes, CEO of Velocity Marketing Services, which ran the auction. "It’s a tough time. Unfortunately we’re at a trough in the economy. But people love the building."

Dorchester’s DNA Lofts Auction Halted After 15 Sales

by Banker & Tradesman time to read: 1 min
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