Sold! Platinum Luxury Auctions Produces Buyer for Texas Mansion

Estate in The Woodlands - One of Largest Homes North of Houston - Sells Prior to Auction

Mar 11, 2016, 14:53 ET from Platinum Luxury Auctions

HOUSTON, March 11, 2016 /PRNewswire/ -- Miami-based Platinum Luxury Auctions has confirmed the pending sale of "DanMar Manor," a +30,000-square-foot estate located north of Houston in The Woodlands, Texas. Although the property was scheduled for a live auction sale the evening of February 20, a buyer identified by Platinum placed the property under contract hours before any bidding could begin. Platinum, a specialized auction firm with nearly $450 million in non-distressed, multimillion-dollar property sales on behalf of wealthy homeowners, managed the sale in cooperation with the property's listing agent, Deborah Coleman of Coleman Realty Services in Conroe, Texas.

While it's customary for the sale price to remain private until the transaction closes, a Platinum representative commented that the price is, "believed to be the highest gross sales price on record in The Woodlands to date." The sale is scheduled to close in May.

The property was custom-built by a retired businessman and his wife, both Texas natives, who have been married for more than 50 years. It boasts a French Renaissance-inspired design and a sprawling interior of 30,000 square feet, in addition to 7,000 square feet of terraces and balconies. There are three living levels, 8 bedrooms, 13 full and 5 half bathrooms in the main estate, in addition to two, one-bedroom guest apartments, each one offering a private kitchen and full bath. There is also a pool house that features a full kitchen, bathroom, and living area, with glass doors that open to the pool deck.

The extensive use of stone, marble, and architectural columns throughout the residence, in addition to 12 custom fireplaces and a total of 28 crystal chandeliers, combine to create a rich and elegant ambiance throughout the home. This regal atmosphere is offset by a touch of whimsy, however, with features such as a spectacular home theater with a "Hollywood marquee" entry, an adjacent 1950's-style diner and concession area, and a finely appointed gentlemen's parlor with a full wet bar and table gaming area.

Although The Woodlands certainly has it's fair share of large estates, especially within the prestigious Carlton Woods section of the community in which DanMar Manor is located, the fact that the property was so large was a difficult hurdle to overcome, accordingly to the parties involved in the sale. "Even though the house is truly exceptional, it is also very taste-specific, and we initially expected that to be a challenge for many buyers. However, the real issue inevitably centered on the immense size of the home," stated David Ashcroft, who managed the sale on behalf of Platinum. "It's likely the singular reason the home spent such a long time on the market prior to the auction."

DanMar's size proved to be no problem for the buyer, however, who was so impressed with the home that he tabled his existing plans to build a custom estate that would be located closer to the center of Houston. "The luxury auction opportunity quite literally stopped this buyer in his tracks, and redirected him to the purchase of a property that he otherwise would have never considered," noted Trayor Lesnock, Platinum's president and founder. "The buyer probably wouldn't have shown up if it weren't for the auction," added Coleman, the listing agent.

The buyer is described as a hospitality industry entrepreneur based out of New Jersey, with various holdings in the Houston area. The residence is intended to serve as a primary home for his family, as his growing business now requires him to spend more time in Texas.

For additional information, interested parties may contact Platinum Luxury Auctions at 800.262.5132 or visit WoodlandsLuxuryAuction.com.

About Platinum Luxury Auctions 
Platinum Luxury Auctions specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $445 million in luxury real estate auction sales to date, while consulting on more than $1.5 billion in additional luxury properties worldwide. The firm is responsible for developing the luxury auctionSM model for high-priced real estate auctions.

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SOURCE Platinum Luxury Auctions



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