Tuscan-Inspired Estate in Wellington, Florida Approaches May 19th Auction Date
Platinum Luxury Auctions Offers Second Property YTD in World Famous Equestrian Market
WELLINGTON, Fla., May 15, 2018 /PRNewswire/ -- On the heels of its successful sale on May 5th of the 14-acre horse property known as Kismayo Farm, Platinum Luxury Auctions is heading into its second Wellington property auction of the year. On May 19th, the Miami-based real estate auction firm will offer a luxurious estate located in the Wellington Preserve community at a live auction sale. The property was previously listed for approximately $8 million, but will now be sold subject to confirmation of the auction's high bid by various creditors. Platinum is managing the sale in cooperation with listing brokerage Douglas Elliman Realty, which is represented by listing agent Maria Mendelsohn.
While Platinum's auctions typically use more finite terms of sale - for example, placing a fixed reserve price that must be met or exceeded in order for the property to be sold - this auction follows a different format. According to Trayor Lesnock, Platinum's president and founder, the terms are made to suit the situation surrounding the property.
"While the format of this sale is non-traditional for us, it's the appropriate method of sale for the situation," Lesnock stated. "Third party creditors will need to approve the high bid in order for the sale to be finalized. That said, it's our understanding that the parties are motivated for the sale to occur, and some have provided us with written statements to this effect." Mr. Lesnock added that while he cannot speak for any creditor, it's typically the case in such situations that creditors would much rather deal with capital than a real estate asset, hence their interest in a successful sale. "I would certainly not be deterred if I were a bidder for this property," he stated.
Located within the 610-acre equestrian community known as Wellington Preserve, the property sits on nearly 6.3 manicured and fenced acres, and features a large estate with an impressive outdoor living area and ample green space for the addition of equestrian amenities such as barns, paddocks or a riding arena.
The residence features a Tuscan-inspired design, and offers 6 bedrooms and 8.5 baths throughout approximately 7,500 sf of living space. Outdoor living areas account for an additional 5,000 sf.
Prominent features of the residence include a fully fenced perimeter with 3 electronic entry gates, paved arrival with porte cochère, chef's kitchen, home theater, fitness center and luxurious master bath complete with freestanding soaking tub and walk-in shower. There is also a detached garage with a spacious loft for office or flex space - perfect for the modern "man cave."
The property's outdoor living areas could easily be confused with those of a luxury resort. Dominated by a large, custom pool with various lighting and water features, the space also includes a gazebo, multiple lounge areas, and a covered summer kitchen. Ample, mature palm tress and tidy landscaping add to the resort ambiance. Beyond the pool area is a vast expanse of manicured lawn, perfect for the addition of any number of equestrian facilities.
Final previews of the property will be held Thursday and Friday of this week, between the hours of 12pm and 4pm ET. Those individuals wishing to bid at the auction must register with Platinum by the 5pm ET Bidder Registration Deadline on Friday, May 18th. More information is available at FLLuxuryAuction.com, or by contacting a member of the Platinum team at 800.631.4885.
About Platinum Luxury Auctions
Platinum Luxury Auctions is responsible for developing the luxury auction® model for high-priced real estate auctions, and owns the 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 $741 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 LLC
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