Sheldon Good & Coy will auction units in the San Carlos condominium project Pleasure Island, 15 of which were priced to sell at nearly $850,000 and will have suggested opening bids of $200,000.

According to Sheldon Good, the area is in a GO Zone, or an area hit by Hurricanes Katrina and Rita and now designated to help spur growth by offering buyers tax incentives.

San Carlos Condominiums is a 20-story, high-rise building fronting the beach. It was built in 2006 and has nine residences per floor.

The auction will take place Aug. 17 at the Renaissance Riverview Plaza Hotel in Mobile at noon.

Posted: 07|18|08 at 10:20 am. Filed under: US Property.