A cautionary tale about market value in the ultra-luxury real estate world…
10-Acre Estate with Equestrian Features Located in one of Forbes’ Most Expensive ZIP Codes
Miami-based luxury real estate auction firm Platinum Luxury Auctions has announced the upcoming auction of a 10-acre mansion located in the upscale community of New Vernon, New Jersey. Although initially asking $8 million, the property will now be offered without reserve, meaning that the home will be sold to the highest bidder regardless of the high bid price. Platinum, a firm specializing in the sale of multimillion-dollar homes at auction, was hired by the property owner to manage the sale in cooperation with New Jersey listing brokerage Kienlen Lattmann Sotheby’s International Realty. Listing agents Berly Teele and Lisa Geoffroy are representing Kienlen Lattmann for the sale.
Perfect for the Philadelphia executive!