By Aliza Appelbaum

More than 500 potential buyers showed up at Manhattan’s Sheraton Hotel and Towers on Sunday for a chance to bid on super-luxury apartments in the troubled Solaria development. Opening bids in many cases were set at less than half of the developer’s original asking price.

Though there were bids on all the apartments, 26 of the winning bids were below the reserve line, according to data analyzed by The Press and compiled by a real estate agent who attended the auction. If a bid is below the reserve line, the developer has the right to reject the bid and look for an alternate buyer.

“We expect to sell the building out over the next month in our post-auction effort,” said Robert Friedman, chairman of Real Estate Disposition, LLC (REDC), the firm handling the auction, in a press release. The company called the auction a success despite getting only 21 contracts for 54 vacant apartments, and getting far less for many of the units than what the developer originally thought the apartments were worth.

“Based on REDC’s past experience, prices increase post-auction day,” said a spokesman for Arc Development, the developer that built the Solaria, located on West 237th Street. “The auction generated great interest. Close to 3,900 people visited the building in less than four weeks. Close to 1,800 pre-registered [for the auction]. Contracts have been taken and bids continue to be made after the auction.”

New homeowners seemed pleased with their purchases. After successfully bidding on a condo, they were escorted out of the auction room to grins, handshakes and calls of congratulations.

“Certainly they are beautiful homes,” said Michele Christon, a Queens resident who purchased a two-bedroom, two-bathroom apartment with a riverfront- facing balcony.

The original price for her apartment was $1.1 million, and the bidding started at $499,000. She got the place for $790,000.

“It wasn’t a bargain, but I thought I got a good price and it worked for me,” said Ms. Christon. She said her favorite feature was “a beautiful view of the Hudson.”