Auction Date Approaches for 335-Acre Equestrian Estate in Central New York

Large Residence with Host of Horse & Farm Amenities to be Sold Nov 17th

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Nov 12, 2018, 13:38 ET

COOPERSTOWN, N.Y., Nov. 12, 2018 /PRNewswire/ -- This Saturday, 335 acres in central New York will be offered for sale at a live auction. The large-acreage, equestrian property is located in the village of Fly Creek, just outside of Cooperstown, NY. It was previously for sale for nearly $3 million. The financial institution that owns the property retained Miami-based auction house Platinum Luxury Auctions to manage the sale in cooperation with listing brokerage Keller Williams Capital District. Listing agent Jill Cunningham is representing Keller Williams in the sale.

This 335-acre, equestrian estate just outside of Cooperstown in central New York is headed to a live auction sale on Saturday, November 17, 2018. Although once asking nearly $3 million, there is no minimum bid or required price for the auction, although the high bid will be subject to confirmation by the financial institution that owns the property. Platinum Luxury Auctions is managing the sale in cooperation with listing brokerage Keller Williams Capital District. NewYorkLuxuryAuction.com

The indoor riding arena measures 80-ft x 140-ft, and is perfect for exercising horses during inclement weather. An outdoor arena is also on-site. NewYorkLuxuryAuction.com.

An indoor pool and spa allow for year-round enjoyment, and feature a lounge area complete with a working fireplace. More at NewYorkLuxuryAuction.com.

A handsome residence offers more than 9,000 interior sf, with 8 beds, 10 full and 2 half baths. Features include an indoor pool, commercial-grade kitchen, bar and lounge, and extensive woodwork throughout. NewYorkLuxuryAuction.com.

Equestrian amenities include a large barn with 22 stalls and an indoor riding arena, a carriage house with 10 additional stalls and guest/staff quarters, an outdoor riding arena, multiple paddocks and more. NewYorkLuxuryAuction.com.

The sprawling property consists of two parcels. One, +/-133-acre parcel contains a large residence along with all of the estate’s equestrian amenities, while the second, +/-204-acre parcel consists of vacant land. The parcels may be offered collectively or separately, depending on bidder interest, according to Platinum. Discover more at NewYorkLuxuryAuction.com.

The +/-335 acres represent the sum of two, separate parcels that comprise the property. One, +/-133-acre parcel contains a large residence along with a collection of outbuildings and equestrian amenities. A vacant, +/-204-acre parcel includes a conservation easement, but allows for limited development and other uses. The parcels may be offered separately or collectively at the auction, depending upon bidder interest, according to Platinum.

Each parcel will be sold subject to lender confirmation, meaning that the lender that owns the parcels can accept, reject, or counter the highest bid(s). "While this form of lender-directed auction represents a very small percentage of our annual sales, it is an effective model for the sale of properties owned by financial institutions, largely because buyers understand that banks don't want to be in the property business. They want capital, hence their motivation to sell," stated David Enriquez, Platinum's Vice President of Operations.

The property's +/-133-acre parcel includes a beautiful, stone-and-shingle residence of more than 9,000 sf, with 8 bedrooms, 10 full and 2 half baths. Prominent features include two kitchens (one with commercial-grade appliances), an indoor pool and spa accented by a lounge and stone fireplace, a large bar and lounge, and a multi-sport court.

Equestrian amenities are ample, and include a 22-stall barn with a heated tack room and viewing lounge that offers two full baths, a laundry area and office. There is also an indoor riding arena measuring 80-ft x 140-ft. Outside, a 100-ft x 200-ft arena beckons when the weather warms, while a separate carriage house offers an additional 10 stalls and one-half bath, in addition to an upper-level apartment with 2 bedrooms, 1 bath and a workshop.

The adjacent, vacant parcel includes +/-204 beautiful acres. While much of the acreage is subject to an "Open Space/Farm" easement with the Otsego Land Trust, 14 acres are designated as buildable area. The parcel also includes extensive forestation/timber. Details of this easement are on file in a formal Deed of Conservation Easement that is available for review by prospective buyers.

Bidders who are interested in participating in the auction are encouraged to preview the property between the hours of 11am and 3pm ET each day this week, through Friday. For directions to the property, information on bidder registration or other auction procedures, visit NewYorkLuxuryAuction.com, or contact Platinum's project manager, Tawny Wolf, at 800.936.2865.

About Platinum Luxury Auctions
Platinum Luxury Auctions is responsible for developing the luxury auction^® model for high-priced real estate auctions and owns the trademark rights to the term "luxury auction." The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum's team has closed more than $780 million in luxury real estate auction sales to date, while consulting on more than $2.25 billion in additional luxury properties worldwide.

SOURCE Platinum Luxury Auctions