Modern waterfront estate in South Florida sold for $3.6 million at luxury auction®

Platinum Luxury Auctions has added another record sale to its portfolio. On November 25th, Platinum held a luxury auction® for a luxurious waterfront estate in Hollywood, Florida, which resulted in a purchase price of approximately $3.6 million.

According to Platinum’s analysts – who reviewed both the Realtor’s Multiple Listing Service (MLS) and the Broward County property records – the price ranks as the third-highest sale for a single-family home in the city of Hollywood’s history, on both a gross and price-per-square-foot (ppsf) basis. The sale also registers as the city’s number one all-time price for a home located west of a fixed bridge (a location that limits boating access to Florida’s Intracoastal Waterway and the Atlantic Ocean).

The home was custom built in 2013 by James Grage, a fitness expert and co-founder of prominent sports nutrition company BPI Sports. After deciding to relocate, he first listed the property traditionally before deciding to retain Platinum for a more expeditious sale. The luxury real estate auction house managed the sale in cooperation with listing agents Marc Hameroff and Matthew Elliott of Miami’s Engel & Völkers brokerage.

Hameroff, who also serves as Managing Director for the Engel & Völkers Miami office, spoke highly of the sale.

“My team and I have been thrilled to work with Platinum, and the results of this sale reflect the quality of their program and the level of investment their team makes in the transaction. I’m anticipating many future successes together.”

The winning remote bidder was an international businessman

Platinum described the winning bidder as an international businessman who resides primarily in France. In fact, he was in France while participating in the auction. His real estate agent, who was his on-site representative for the sale, connected him to the auction using her iPhone, allowing him to place bids in real-time using the FaceTime video-calling feature.

While Platinum prefers that bidders are physically present at its auction sales, remote bidding is not uncommon according to Trayor Lesnock, the firm’s Founder and President.

“Remote bidding like this is not uncommon. We’ve accommodated remote bidders from all parts of the globe, but when doing so, we still require a high level of transparency – for example, the real-time, audio/video engagement offered by FaceTime – so our on-site bidders are comfortable.”

“He purchased a home from us at a luxury auction® in Jupiter, FL in 2013. He’s a very confident, strong bidder and has an appreciation for this type of architecture and design. We’re certainly glad to have him in our database!”

The waterfront residence sits on a half-acre lot with 150 ft of frontage on a deep-water canal, and offers a concrete dock and a motorized boat lift for smaller craft. Its design is modern and comfortably elegant, with bright and airy living spaces. Two stories offer 7,200 sf of interiors, with 5 beds, 5 full and 2 half baths. Notable features include a gourmet kitchen, 2-story living room and a lovely master suite with a spa-like bath. Outdoor living areas include an expansive sundeck, lanai lounge with summer kitchen and entertainment system, a vanishing-edge pool and a firepit lounge.

The non-contingent sale is scheduled to close in late January. Additional property information can be found at PlatinumLuxuryAuctions.com, or by contacting Platinum’s corporate office at 800.262.5132. The firm is now offering a spectacular, waterfront estate in the ultra-exclusive Gables Estates neighborhood in Coral Gables, FL. The seller, billionaire businessman Manual “Manny” Medina, recently listed the home for $18 million. It will be sold at luxury auction® on February 14th without reserve.

Read the article on Business Insider HERE.