More than 20 waterfront condominiums, ranging in price from $49,900 to $309,900, are planned to be sold via sealed bid. The minimum sealed bid set for these waterfront condos is well below the appraised value of other similar properties on the Connecticut shoreline. Sealed bids will be accepted beginning October 3, 2008 and will be opened on November 2, 2008.

"To accelerate the final sales pace at these successful waterfront properties it makes good fiscal sense for both developers to join together, share marketing expenses and implement the sealed bid close-out strategy to reach a large segment of buyers. This is a limited opportunity to purchase waterfront real estate in CT at an incredibly affordable price," said Cheryl Desmond, director of marketing and sales or both Harbor Club and Shaw's Landing.

"We believe the combination of waterfront location and luxury features at both communities will attract a diverse mix of vacation and second-home buyers, first-time buyers, empty nesters and investors. These lower prices are meant to attract serious buyers who want to live in an established community in a great location," said Jim Goldenberg, principal of Cathartes Private Investments and developer of Harbor Club Condominiums.

Gwendolen G. Noyes, a partner with Oaktree Development and developer of Shaw's Landing agrees. "These lower prices, at lower than appraised values, provide an unequalled opportunity for buyers to invest and live on the CT Shoreline," Noyes said.

"Both Developers want to emphasize the success they have experienced with their projects and this initiative is not a sign of financial difficulty. The developers are looking for a shorter sales cycle by offering the condominiums well below their appraised value," said Desmond.

For details on both properties and the sealed bid process, visit their web sites or schedule a visit daily between 11-5 p.m.