Archive for “March, 2021”

1425 Brickell Ave PH 70BCD 1425 Brickell Ave PH 4BCD

Top-Floor Penthouse at Miami’s Four Seasons Notches Top-Tier Pricing at Luxury Auction®

Platinum Luxury Auctions has added another noteworthy sale to its portfolio.

On January 29, the Miami-based, luxury real estate auction house held a live auction for a penthouse condominium at the Four Seasons Private Residences in downtown Miami. An audience of seven bidders vied for the property as part of a real-time bidding process held on-site, which culminated in a non-contingent sale and a closing scheduled for mid-March. Prior to being offered for luxury auction, the 70th-floor residence had been listed for sale for nearly nine consecutive years with a collection of Miami’s top brokers, yet found no successful suitors.

While the price of the pending sale won’t be known until closing, Platinum quantified the figure as being the 5th-highest resale in the building’s history and the 3rd-highest resale within the past 5 years. “We just missed the 3rd and 4th all-time price marks by 2% and 1%, respectively,” according to David Ashcroft, Platinum’s managing director. “And after paying that price, the buyer still intends to extensively renovate the unit.”

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838 5th Avenue Floor 10 New York NY 10065

Platinum Luxury Auctions Sells Posh Apt on NYC’s 5th Avenue at 14-Bidder Luxury Auction®

Platinum Luxury Auctions, a Miami-based auction firm and New York real estate broker, has reported the pending sale of a full-floor condominium in New York City’s Upper East Side, following its auction of the property on Friday, February 19th. A total of 14 bidders registered for the no-reserve auction, which was conducted via a live, real-time bidding event held in the residence. The non-contingent sale is scheduled for a rapid closing in approximately 30 days.

The property is located at the 838 5th Avenue building in the Lenox Hill neighborhood, and was first brought to market at $27.5 million before the seller elected to expedite the sale via Platinum’s non-distressed auction process. It’s one of only ten condominium units in the ultra-exclusive building. Occupying the entire 10th floor, it offers a 4,500-sf interior with 3 bedrooms, 3 full and one-half baths. Its standout feature is perhaps its 46-ft wide great room with direct views of Central Park. The boutique building was converted to condominiums from a commercial space in 1999.

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