It's not quite a Mini Cooper, but the Mangum 506 condo project in Durham is offering buyers a $2,500 IKEA gift certificate if they put a unit under contract by the end of the month.
Susana Dancy, a co-developer of Mangum along with Andrew Philipps and Scott Harmon, said nine of the development's 21 units are still available.
Mangum 506's units are small, 672 to 1,220 square feet, with big windows and 10-foot ceilings. Remaining units are priced between $159,000 and $299,000, Dancy said.
Mangum's model units are designed by Nicole Baxter using almost all IKEA furniture. Dancy said the popularity of the model units--and IKEA's affordable prices--made the promotion a good fit.
Mangum is also hoping to get potential buyers attention while they still may be eligible for the $8,000 first-time homebuyer tax credit. The tax credit is set to expire Dec. 1.
Mangum 506's two buildings were completed in August. Dancy said one of the building's has received Fannie Mae approval, while the other needs a few more owner-occupied sales to qualify.
As for offering Minis, Dancy admitted "that would be a little decadent for us."
Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or 
