An iconic piece of Art Deco and Detroit history had spent a considerable amount of time listed on the market.  The property had already been taken to a reserve auction without a successful sale, despite a reasonable reserve.  Rhenium underwrote and agreed with the seller’s pricing expectations, however recommended the asset be marketed and sold in an absolute, no reserve, auction.  The seller followed our strategy recommendation, received a bid above their initial list price and closed in 30 days.