Platinum Luxury Auctions Offers Caribbean Properties in September Auction

MIAMI, Aug. 14, 2012 /PRNewswire/ -- In what is likely a first for one of the Caribbean's most cherished resort areas, a collection of luxurious properties located in the Dominican Republic's Cap Cana development will be sold at auction by Platinum Luxury Auctions. The auction, which will take place in Cap Cana on September 22, 2012, will feature 4 lender-owned properties, including a grand estate previously offered for sale at $14.8 million.

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Platinum, a U.S.-based firm that specializes exclusively in the auction sale of multi-million dollar real estate, will be conducting the auction in cooperation with Great Dominican Estates, a Dominican real estate brokerage. Provaltur International, Inc., an exclusive brokerage affiliate of Christie's International Real Estate, is also participating in the sale.

Though Cap Capa is most famous for its golf, fishing and luxury resorts, the development is also home to a considerable number of private properties, ranging from waterfront condominiums to spectacular estate residences owned by some of the Caribbean's wealthiest individuals.

Although sales of expensive Caribbean properties have slowed in recent years, luxury purchasers have proven that Cap Cana is still in demand. In 2011, they picked up more than $42 million in luxury property there (including individual sales above $5.5 million). Nearly 50% of these purchasers were from the United States.

The most impressive of the properties offered at auction is a magnificent golf-front estate with inspiring views of the Caribbean Sea. The 11,200 square foot residence features a unique design that blends indoor and outdoor living spaces. It was once offered for $14.8 million, but will now be sold to the highest auction bidder above only $2.5 million. Additional auction properties include a large, golf-front residence (once valued above $2 million, now selling above $600,000), a private golf-front lot (once valued above $1.5 million, now selling above $500,000) and an elevated ocean view lot (once valued above $1.5 million, now selling above $600,000).

"When your job is dealing with luxurious properties, you're constantly encountering the most beautiful views and surroundings that money can buy," said Trayor Lesnock, president of Platinum Luxury Auctions. "This being said, I have not seen golf and ocean views like this before." According to Cesar Herrara, owner of Great Dominican Estates, "Those who are familiar with Caribbean real estate will understand the superior value and quality of life offered by Cap Cana. It is a special development, and these auction prices are the best deals we have ever seen here."

About Cap Cana: Cap Cana is located on the easternmost border of the Dominican Republic in the Puna Cana region. It occupies more than 45 square miles of land and boasts 5 miles of beautiful beaches. Despite feeling like a very remote paradise, Cap Cana is within a 15-minute drive from the Punta Cana International Airport, which receives direct flights from many eastern U.S., Latin American and European cities.

Capa Cana is well known amongst sport fisherman and golfers. The full-service Cap Cana Marina is home to many luxury yachts and is also a popular Caribbean hub for fishing tournaments. The development's Punta Espada golf course is a Jack Nicklaus Signature facility that has been host to the PGA Tour's Champions Tour, and has been ranked as the #1 golf course in Mexico and the Caribbean by Golfweek for four consecutive years.

For more details on this luxury auction, please visit AuctionCapCana.com or call 1.800.262.5132.

About Platinum Luxury Auctions LLC: Platinum is the only auction company founded exclusively on luxury, non-distressed real estate auction experience. The firm's principals have closed more than $275 million in luxury real estate auction sales, and have consulted and advised on nearly $1 billion in luxury auction property in total. The firm specializes in luxury assets in excess of $1 million. Contact Platinum at 1.800.262.5132, [email protected] or visit PlatinumLuxuryAuctions.com.

SOURCE Platinum Luxury Auctions LLC