VERO BEACH, Fla., April 2, 2014 /PRNewswire/ -- Two neighboring oceanfront land parcels located within The Moorings community of Vero Beach, Florida will be offered by Platinum Luxury Auctions on May 1, 2014, in cooperation with listing agent Matilde Sorensen of Dale Sorensen Real Estate Inc. The lots are among a private collection of only six residential parcels situated along the southern portion of Reef Road, a coveted oceanfront address. The vacant lots, each offering nearly 120 feet of linear frontage on the Atlantic Ocean and more than 200 feet in depth, will be sold using a "high bidder's choice" method wherein a bidder may choose which property he prefers. At least one parcel will sell to the highest bidder at or above the auction reserve price of $1 million, with the sale of the second parcel being subject to negotiation with the seller. The properties were previously for sale for more than $2 million each.
The lots are cleared for residential development and can each accommodate a sizable luxury estate, or can be combined for a much larger property. Trayor Lesnock, Platinum's president and founder, noted that the Vero Beach market has experienced a surge in oceanfront land sales that began in early 2011, with more than 20 multi-million-dollar transactions for vacant, oceanfront homesites occurring since that time. Some of these parcels fetched as much as $4.5 million each. "As a result, premier oceanfront development opportunities in Vero Beach have become increasingly scarce," said Lesnock.
Vero Beach is known as a popular retreat for big business executives and their families, with many Fortune 500 CEOs reported to own property there. Upscale, amenity-rich communities such as the Moorings play an important role in attracting these residents. Though it's mostly labeled as Vero's leading yachting community, the Moorings also features a highly rated golf course, as well as a fitness center, spa and social club.
Prospective buyers may walk the properties during daylight hours seven days a week, leading up to the auction date. Interested parties should contact Platinum Luxury Auctions directly at 800.262.5132, or visit OceanfrontLuxuryAuction.com for additional auction details.
About Platinum Luxury Auctions
Platinum Luxury Auctions is a market-leading auction firm specializing in the non-distressed sale of multi-million-dollar properties nationwide. The firm's principals have closed more than $330 million in luxury real estate auction sales, and have consulted on nearly $1.25 billion in additional luxury properties. Learn more at PlatinumLuxuryAuctions.com.
- Real Estate
- Vero Beach, Florida