Archive for “May, 2018”

This Could Be Morris Co.’s Most Expensive Home After June Auction

The listing price of $6.1 million is “just for reference.” How much would you bid on this home?

By Katie Kausch , Patch Staff 

HARDING TOWNSHIP, NJ — This sprawling Harding Township home could be Morris County’s most expensive when it hits the auction block on June 1. Listed online for $6.1 million, the home could go for much more (or much less!) than the price when bidding starts.

The six bedroom, eight bathroom home sits on over 10 acres and boasts a six stall barn, luxury pool, a library, and more. How much would you bid on this mansion? Read more about it here, and visit realtor.com for even more photos.

Click here for the full story.

The inside story of Oregon’s greatest mansion never built

By Jon Bell  – Staff Reporter, Portland Business Journal

Mark Wattles had grand plans for a singular 32-acre property along the banks of the Willamette River in West Linn.

The founder of Hollywood Video had bought the property in his early 30s for $1.25 million in 1994, and by 1997, construction was underway on Wattles’ dream home, a sprawling, 50,000-square-foot mansion with three stories, underground parking for his car collection, a full-court gymnasium, an indoor swimming pool, an elevator and more.

But life and business plans changed for Wattles, and two years later, he all but stopped construction on the home. Minor projects and seasonal maintenance continued — largely to keep the building permit open — but for the most part, the home sat framed and unfinished.

For almost 20 years.

Now 57, Wattles has decided he’s never going to finish the project and it’s time to sell.

“I’ve gone back and forth over the years on whether to finish it or not, and I’ve finally made the decision that it’s not going to happen. I’m never going to finish it for myself,” Wattles said. “It was going to be my little oasis. Now it will be somebody else’s.”

The property sits at 32020 S.W. Peach Cove Rd. on the banks of the Willamette River in West Linn. Because the river makes an almost 90-degree bend there, the property offers an expansive, 270-degree view of the river and almost 2,700 feet of river frontage.

The home on the site is a long way from being finished, but it is substantially in-progress. Images show essentially a shell of a home, windowless and wrapped largely in Tyvek, a synthetic construction material that helps keep moisture out. Interior photos that were not made available for publication show the huge gymnasium with glulam beams spanning the ceiling, exposed wooden rafters and beams in various rooms and sheet after sheet of plywood on the floors and walls.

Rather than list the home with a broker, Wattles said he decided to sell it through an auction in part to attract a wider, national audience. To do that, Wattles hired Platinum Luxury Auctions out of Miami.

Trayor Lesnock, president of Platinum Luxury Auctions, said he was admittedly a tad worried about what shape the home might be in before he saw it for himself.

“I was very surprised to see the condition of it,” he said. “I did not have high hopes just because anything that’s been sitting there in the Oregon weather for that long … But it actually looks like it was built in just the past few years.”

The auction is set for 7 p.m. Thursday, June 14. It may be held at the site, but Lesnock said that could change with the weather. It will be a live auction without a reserve, meaning there is no minimum bid and the highest offer will win. Prospective bidders have to put down a substantial financial commitment up front just to participate, though their money is refunded if they’re not the highest bidder.

As for price or what the property could command, Lesnock said that with such an “exotic” site with few comparable parcels for context, it’s almost anyone’s guess.

“If it’s a 5,000-square-foot home in a subdivision of other 5,000-square-foot homes, we can get a good idea,” he said. “In this case, we have almost no expectation that would have any degree of precision.”

Wattles said he has invested about $12 million into the property.

According to Clackamas County property records, the total market value of the property is about $6.6 million, but Lesnock said that number won’t mean much at this auction.

“I would say that’s relevant to the tax man and the tax man only,” he said.

Lesnock also noted that the home sits closer to the river than is now allowed under current zoning, which gives it another unique attribute, and the 5 acres of the property planted with blueberries qualify it for an agricultural tax abatement.

As he prepares to sell his once-dream property, Wattles said he has no regrets that it never came to be. He still spends about a third of his time in West Linn, divvying up the balance between Dallas, Texas and a house in Punta Mita, Mexico. His hard-charging business days have eased back a bit, but he’s still getting after it, most recently with a Dutch Bros-inspired coffee operation called 151 Coffee that should have five locations open in Texas and Colorado by year’s end.

“I’m so far past that,” he said about possible regrets over the riverfront estate. “I was in my early 30s when I bought that land. I’m still the same business guy who likes to grow things fast, but my dreams and aspirations are wildly different now.”

Click here for a look at Wattles’ soon-to-be-auctioned property, and here to view the original story.

Southern Utah’s 570-Acre Wine Bar Ranch Set for Luxury Auction® May 26th

Auction Offers Opportunity for Private Land Holding Amidst National Monument Lands

570-acre ranch in southern Utah that shares its borders with National Monument lands has been scheduled for sale via luxury auction® with Platinum Luxury Auctions. Although once asking nearly $14 million, the property will now be sold subject to a reserve price of only $4 million. The ranch owner retained the Miami-based auction house to conduct the non-distressed auction sale, which is scheduled for May 26th, 2018. Platinum is managing the auction process in cooperation with listing brokerage Summit Sotheby’s International Realty, represented by listing agent Kathy Mears.

The property, known as the Wine Bar Ranch, is owned by Shane Robison and his family. Robison is a venture capitalist and retired tech executive who has held various posts at some of the world’s most prominent technology companies, such as Apple, AT&T Labs and Hewlett Packard. He and his family developed the ranch over time by acquiring and improving a collection of farmland parcels in Boulder, Utah. The small and charming town is located about 250 miles south of the center of Salt Lake City.

While the ranch is currently home to a modest quarter horse and grass-fed Angus cattle operation, its truly distinguishing feature is the location, according to Trayor Lesnock, Platinum’s president and founder. “At the scenic lookout points along State Route 12, you can actually view the Wine Bar Ranch sitting amidst the protected National Monument lands, which contain 250 million years of geological history,” Lesnock stated. “While many sellers wish to think of their property as ‘truly unique,’ the ranch quite literally fits that description. It’s impossible to reproduce this asset.”

To be sure, the ranch abuts the Escalante Canyons (formerly part of the Grand Staircase-Escalante National Monument), which are part of more than 1 million acres of awe-inspiring, natural lands. The beauty of the area is famous, and when traveling through the Monument it’s not uncommon to see professional photographers capturing the multicolored landscapes. Even painters will set up their easels amongst the rocks, and spend the day quietly transplanting the surrounding scenery onto their canvas.

Amenities of the ranch are extensive, and include a spectacular, 70,000-sf indoor arena. “It’s likely one of the largest such facilities in the entire state,” noted Lesnock. The arena is complete with heating and lighting systems, allowing for year-round use. It also houses stalls for horses and cattle, a tack room, entertainment lounge, guest apartment, fitness center and bathrooms.

There is also an outdoor arena with stadium lighting, horse and cattle barns, multiple paddocks, three large hangars for hay storage, and various storage facilities for equipment of all sizes. Much of the work performed on the ranch can be accomplished without leaving the property, thanks to a sprawling workshop with office and bathroom, commercial-grade woodworking center, fuel storage facility, pump house and even a cement production plant.

Perhaps most importantly, the ranch enjoys an ample water supply. Water shares include five well permits from the state of Utah, four culinary water shares from Boulder Farmstead Water Company and irrigation shares from Boulder Irrigation and Water Development Company. These water shares ensure the smooth operation of the 260 acres of the ranch that are in production.

The ranch also enjoys grazing permits for its livestock, which include 180 Animal Unit Months (AUMs) in the Dixie National Forest and an additional permit from the Bureau of Land Management (BLM) for 20 cattle. These permits allow for the ranch’s cattle to graze off-site each year, conserving resources on the property.

Living accommodations at the Wine Bar Ranch are also ample, highlighted by the main residence of approx. 6,000 square feet. The tri-level ranch house includes 6 beds, 4 full and 2 half baths, in addition to a study, wine room and entertainment lounge. There are six additional living quarters located throughout the ranch for guests and staff, including a ranch manager’s home and a guesthouse that is adjacent to the main residence. Large concrete decks with power hookups can also accommodate several large recreational vehicles.

Previews of the ranch are being held daily and by appointment, until May 25th. The actual auction of the property will be held in Salt Lake City, for the convenience of the participating bidders. For information on property tours, bidder registration or other auction procedures, interested parties may visit UtahLuxuryAuction.com, or call Platinum’s project manager at 800.296.2605.

Tuscan-Inspired Estate in Wellington, Florida Approaches May 19th Auction Date

Platinum Luxury Auctions Offers Second Property YTD in World Famous Equestrian Market

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.

Auction Creates Highest Price in 3 Years Within Colorado Springs’ Black Forest Market

Miami-Based Platinum Luxury Auctions Credits Sale to Team Effort with Listing Brokers

Following the March 3rd luxury auction® of a Colorado Springsmansion, Platinum Luxury Auctions has announced that the sale has closed for a price that ranks at the highest residential sale in the city’s “Black Forest” region – a nearly 130-square-mile market area – within the past three years.

The luxury real estate auction firm, which was hired by the property owner for the non-distressed auction sale, stated that the gross sales price of $2.46 million not only grabbed the top spot in the Black Forest area, but also registered as the 4th highest residential sale Colorado’s El Paso County within the past year, and the 6th highest within the past two years. Platinum conducted the transaction in cooperation with LIV Sotheby’s International Realty and Action Team Realty, the property’s co-listing brokerages.

“I can’t say enough about the team effort that produced this sale,” stated Trayor Lesnock, Platinum’s president and founder. “From the cooperation of the seller to the hard work and extensive efforts by members of both the LIV Sotheby’s and Action Team Realty brokerages, it was a wonderful case study of how Platinum’s luxury auction process and the luxury brokerage industry can work hand-in-hand to create an exceptional result.”

The property sits on 45 acres in the Cathedral Pines community of Colorado Springs, and within just a 45-minute drive from the heart of downtown Denver. The upscale, residential development spans 810 acres in the Black Forest region, and includes 170 homesites featuring large estates situated on parcels of 2.5 acres or more.

While seven bidders registered for the no-reserve auction, Platinum reported that the sale was a result of a direct negotiation with one of those seven bidders, which occurred in lieu of a live auction sale. “Such direct negotiations are not an uncommon part of our process,” stated David Ashcroft, Platinum’s Director of Business Development. “In any given year, they account for 10-15% of gross sales.”

With three living levels, more than 13,000 square feet of living space, and a total of 6 bedrooms, 7 full and 3 half baths, the home is ideal for a large family. Features include an executive study/office, gourmet kitchen, and a large sunroom that opens to an oversized terrace. The lower level of the estate offers a home theater, billiards, wine storage, fitness center, and a “swim spa” indoor pool with a rock grotto design. And for the kids, there is also a custom-built, two-story tube slide that provides access from the main to the lower level.

Additional information on the sale is available at PlatinumLuxuryAuctions.com, or by contacting a member of the Platinum team at 800.262.5132.

Platinum Luxury Auctions Posts Flagler County’s 5th Highest Sale Within Past Year

Oceanfront Home in Flagler Beach, FL Sold via Live Auction on April 28th

Luxury real estate auction firm Platinum Luxury Auctions has announced the pending sale of a luxury beach house located in Flagler Beach, Florida, following a live auction sale that was held on the property site on April 28th. The sale was held without reserve, meaning the highest bidder of the auction became the new owner of the property, regardless of the bid price.

Although the actual sales price will not be released until the transaction closes – which is scheduled to occur within 30 days of the date of sale – Platinum noted that the sale will create the fifth-highest residential price in all of Flagler County within the past year. The property was last listed for $1.8 million prior to the initiation of the auction campaign.

“Per our analysts’ review of the Flagler County property records, the sale will in fact rank as the fifth-highest residential property sale to transact in the entire county within the most recent, 12-month period,” stated David Enriquez, Platinum’s Vice President of Operations. Mr. Enriquez also reported that 5 bidders registered for the auction, following nearly 40 buyer previews during the auction’s 5-week promotional campaign. The winning bidder was described by Mr. Enriquez as a physician from southwest Florida.

Built in 2008, the property offers direct views of the sparkling Atlantic Ocean walkout access to the cinnamon-hued sands of Flagler’s serene beaches. It features several oceanfront decks, which create ample opportunity to enjoy the gentle sea breezes. A private boardwalk (or “dunewalk”) extends from the main-level deck directly onto the beach.

There are 5 bedrooms, 6 full and 1 half baths in the 4,800-sf home. A private elevator serves each of the three living levels of the residence. The second floor contains a living room, kitchenette, and four bedroom suites, along with direct access to the private boardwalk, while the ground level houses a “bonus room” and a large recreation area.

Flagler Beach is a small, seaside town situated between Daytona Beach and St. Augustine on Florida’s northeast coast. The town is known for its peaceful beaches and relaxed lifestyle. Additional information is available at PlatinumLuxuryAuctions.com, or by contacting Platinum’s offices at 800.262.5132.

Falmouth Mansion Valued At $2.4M To Be Auctioned

Falmouth WOW House.

By Jason Claffey, Patch Staff 

WEST FALMOUTH, MA — A furnished Falmouth mansion will be auctioned off this month. The 43 Daniels Road estate, built in 1975, has four bedrooms, four bathrooms, a pool, tennis court and wine cellar. Learn more from realtor.com:

  • Address: 43 Daniels Rd, West Falmouth, Massachusetts
  • Price: $2,400,000
  • Square Feet: 4,500 (including finished lower level)
  • Bedrooms: 4
  • Bathrooms: 3 Full and 1 Half Baths
  • Built: 1975
  • Features: This furnished Cape Cod Retreat will be sold at Luxury AUCTION® on May 29th, 2018 in cooperation with Platinum Luxury Auctions! Selling WITHOUT RESERVE! List price used here is FOR REFERENCE ONLY. Inquire for complete auction details. The Saconesset Hills Experience awaits those searching for the perfect Cape Cod combination of ultimate privacy and recreational excitement! The serene English Garden setting on 1.2 acres includes the Pebble-Tec Pool, the Sundance Spa and the all weather tennis court! The active Association offers additional recreation with the private sandy beach and the access to the Shining Sea bike path., large entertainment room with fireplace, an exercise room and the full bathroom with wet steam room. Free furnishings included. The wet bar, wine cellar and wood cabinetry accent the sophisticated lifestyle.

This listing originally appeared on realtor.com. For more information and photos, click here.

Kismayo Farm in Wellington, Florida Gallops Toward Luxury Auction® May 5th

+14-Acre Estate Once Asked Nearly $9 Million. Now Selling At or Above $3 Million.

On May 5, 2018, luxury real estate auction house Platinum Luxury Auctions will offer Kismayo Farm – a 14.3-acre equestrian property located in world famous WellingtonFlorida – at a live auction sale. Although recently asking $8.7 million, the property will now be sold to the highest bidder who meets or exceeds the auction’s reserve price of $3 million. The offering marks Platinum’s sixth luxury auction in the Wellingtonmarketplace. The Miami-based auction firm successfully sold each of its five previous auction properties in Wellington. Southfields Real Estate, represented by broker/owner Carlos Arellano, is the listing brokerage working in tandem with Platinum for the sale.

“We’re thrilled to be working with Southfields again, and on such a beautiful property,” stated David Enriquez, Platinum’s Vice President of Operations. Mr. Enriquez is referring to Platinum’s April 2017 sale of an equestrian farm located in Wellington’s Palm Beach Point community, which was owned and listed by one of Southfield’s sales associates. “And with our perfect sales record of five consecutive, closed transactions in the Wellington marketplace to date, it provides significant confidence for the buyers to participate in each sale we do here, knowing that the process will be real and transparent. Too many real estate auctions nowadays are beginning to lack those very important characteristics.”

Kismayo Farm’s 14.3 acres consists of two parcels: a 9-acre parcel containing all of the property’s structures, and a neatly manicured 5-acre parcel, which is prepped and ready for various uses. The parcels are being offered together as one unit of sale.

Equestrian amenities are robust, and include a 12-stall barn with a wash stall, tack room, feed room, laundry and one-half bath. Each stall measures 12 ft-by-12 ft, and footing consists of rubber mats laid over sand and clay. When designing the barn, the property owner and builder (Linehan Builders) positioned the structure to take advantage of the natural breezes that flow across the farm, allowing for a near-constant flow of air throughout the barn, cooling the horses and keeping insects at bay. There is also a 60-ft-by-180-ft, mirrored dressage arena (which also includes 5 additional stalls) and 10 paddocks.

The 5-acre parcel has been raised to 16.7 ft above sea level, with a 15.5-ft elevation around the perimeter. It has also been outfitted with an underground irrigation system, powered via an electric pump connected to a 4-inch well with a 110 ft depth. A private entrance to this parcel allows vendors and guests to avoid disturbing the living quarters.

Residential features of the property are also impressive, and are led by the main residence. Built by trusted Wellingtonbuilder Tara Management, the home offers nearly 3,200 interior sf of living space, with 3 bedrooms and 3 full baths. A separate guest cottage and grooms’ quarters each add 2 bedrooms and one full bath. Additional features include a courtyard entry, gourmet kitchen and impact windows. Outdoor living areas include a 50-ft saltwater pool surrounded in coral stone, oversized pool deck and a large loggia.

The final, pre-auction previews of the property will be held Thursday and Friday, between the hours of 12pm and 5pm ET. Those parties wishing to bid on Kismayo Farm must register with Platinum by the 5pm ET Bidder Registration Deadline on Friday, May 4th. More information is available at WellingtonLuxuryAuction.com, or by contacting a member of the Platinum team at 800.484.1778.