Veteran Miami Beach Developer Chooses Auction for Sale of Waterfront Estate with Platinum Luxury Auctions

MIAMI, April 15, 2016 /PRNewswire/ -- When John Turchin, a member of one of Miami Beach's most prolific real estate families, decided it was time to get serious about selling his luxury home, he turned to Miami-based Platinum Luxury Auctions. The veteran real estate auction firm specializes in the non-distressed sale of multimillion-dollar properties located within and outside of the United States, on behalf of wealthy homeowners. The property was previously offered for as much as $9.825 million, but will now be sold at a live auction on May 6, 2016 to the highest bidder who meets or exceeds a bid price of only $3.9 million. Platinum is conducting the sale in cooperation with listing brokerage EWM Realty International, represented by listing agent Nelson Gonzalez, who consistently ranks as one of Miami Beach's top sales agents.

The Turchin family is credited with building more than 200 major high-rise structures and condominiums in the Miami area. As the family business is now in its third generation with John at the helm, its focus has shifted to the development of luxurious, single-family homes and residential developments. Known for balancing his business skills with a wonderfully creative and artistic approach to building and design, Turchin felt the sale of his own property required an outside-of-the-box approach.

"The auction process is a great way to put the international marketplace of high-end home buyers on notice that a seller is serious about the sale of his property," Turchin stated. Trayor Lesnock, Platinum's president and founder, expanded upon Turchin's comment. "At a time when the data clearly indicates that luxury listings are nearing historical highs in the Miami market, it's now more important that ever for serious sellers to select a marketing strategy that creates a wide margin of separation from the rest of the market inventory. The luxury auction process is the ideal tool for creating that market separation, and John is intelligent and experienced enough to realize that."

The property is located on the eastern side of Di Lido Island, situated in the Biscayne Bay between downtown Miami and the beaches. Prominent architect Russell Pancoast, one of the pioneers of Miami's early Art Deco style, designed the Mediterranean-inspired estate. Pancoast was himself a member of an elite Miami real estate family (as the grandson of John A. Collins, for whom Miami's Collins Avenue is named).

Situated on a 10,500-square-foot lot, with 60 feet of deep-water frontage, the estate is ideal for those who enjoy the waterfront lifestyle. An existing boat dock can accommodate up to two, 80-foot boats, while a 12,000-pound electronic lift services small-to-midsized watercraft. Additional exterior amenities include a custom pool and spa, large pool deck, loggia, and a private courtyard.

As Turchin wanted to pay homage to Pancoast's original vision, he invested considerably in modernizing and updating various aspects of the home - such as the gourmet kitchen featuring Italian Scavolini cherry cabinets - while keeping much of its original footprint and overall design intact. Interior features include a grand salon with handmade, coffered ceilings from Murano, Italy, a 100-year old crystal chandelier, a wood-burning fireplace, waterfront master suite with beautiful, custom closets, and arched room entries with exposed ceiling beams.

Di Lido Island is an exclusive island consisting entirely of private, single-family homes, the majority of which are located on the water. It is the largest of Miami's five Venetian Islands. During the past few years, these islands have risen in popularity and demand, likely due to the more private, "island lifestyle" the residents are afforded, all while being within a few minutes of South Miami Beach (to the east) and the heart of downtown Miami (to the west).

Open house property previews are being held every Thursday through Sunday between the hours of 12:00 p.m. and 5:00 p.m. (EDT), until the auction date. Interested parties may contact Platinum Luxury Auctions at 800.870.1292 or visit MiamiLuxuryAuction.com.

About Platinum Luxury Auctions
Platinum Luxury Auctions specializes in the non-distressed, auction sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $450 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 auction^SM model for high-priced real estate auctions.

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SOURCE Platinum Luxury Auctions LLC