This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Platinum Luxury Auctions Presents Rare Auction Opportunity In Vero Beach, FL

PALM BEACH, Fla., April 2, 2013 /PRNewswire/ -- On April 27, 2013, a regal estate in one of the nation's premier residential communities will be offered for sale at a live auction. In what is likely a first for the development of John's Island in Vero Beach, Florida, the large, waterfront property will be sold to the highest bidder above a reserve price of $4.25 million. The home was listed for as much as $9.65 million prior to being scheduled for auction.

(Photo:  http://photos.prnewswire.com/prnh/20130402/FL87502)

While an auction sale in this famously reserved community is sure to be considered unusual, this is not your typical real estate auction. In this case, the owner of the property elected this method of sale after growing tired of the lethargic pace of high-priced home transactions in the Vero Beach marketplace. After carefully evaluating a number of auction service providers, the seller retained veteran auction firm Platinum Luxury Auctions to manage the sale. Platinum is an industry-leading auction house headquartered in Miami, Florida that focuses exclusively on the sale of luxurious and unique properties owned by wealthy individuals. Platinum's president and founder, Trayor Lesnock, stated that the seller is a very private businessman who owns several large-scale businesses throughout the United States. He and his wife decided to sell the mansion after spending much less time there than they had anticipated.

While John's Island is already quite exclusive, the location of this estate goes one step further. The residence is one of only forty luxurious, single-family homes located on what is known as Gem Island, a very small, oval-shaped island nestled within the community. The home sits on a 2-acre lot on the northeastern tip of the Island, and boasts ample water frontage on the Indian River. It offers two living levels, with more than 10,700 interior square feet and nearly 12,100 total square feet. There are six bedrooms, seven full and one half bath. The ground-level master suite offers especially captivating views of the waterways and also features its own private outdoor jacuzzi.

According to David Enriquez, Platinum's senior project manager, the auction's reserve price presents buyers with an incredible deal. "Two smaller homes on the western face of the island, both on smaller lots, have sold within the past year at $5.5 million each. That makes this auction a no-brainer for those seeking waterfront living in John's Island," noted Mr. Enriquez.

Other features of the estate include an immense grand salon perfect for entertaining, a gourmet kitchen with double islands, separate butler's prep kitchen, elevator, 3-car garage, outdoor summer kitchen and infinity pool. There is also a private boat dock for small-to-mid-sized watercraft. Access to the Intracoastal Waterway and Atlantic Ocean is unrestricted, with no fixed bridges.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs