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An impressive waterfront mansion in Fort Lauderdale, Florida that was originally built for Richard Yuengling of the D.G. Yuengling & Son beer empire will be sold at a live auction on June 30, 2016. Platinum Luxury Auctions, a veteran real estate auction firm headquartered in Miami, Florida, is managing the sale in cooperation with the property’s listing agent, Tim Elmes. Mr. Elmes and the Tim Elmes Group comprise a luxury sales team within the Fort Lauderdale office of Coldwell Banker Residential Real Estate. Although recently offered for sale at $10 million, the mansion will now be sold to the highest bidder who meets or exceeds a bid of only $4 million, which is the reserve price established for the luxury auction.
Yuengling built the estate shortly after he acquired the property in 1999. Known as a “point lot,” the property occupies the southeastern portion, or “point,” of one of the streets in the Las Olas Isles, a collection of posh waterfront neighborhoods just east of downtown Fort Lauderdale. The estate offers 300 feet of deep-water boat dockage, consisting of 150 feet on the Intracaostal Waterway and 150 feet on a private canal, allowing for the accommodation of two yachts in excess of 120 feet each.
Interestingly enough, the southeastern point of the isle to the east of Yuengling’s former home was once owned by another beer magnate. Adolphus Busch III, the former president and CEO of Anheuser-Busch and the grandson of the company’s founder, built a 12,000 sq. ft. vacation home there in 1938.
Yuengling’s former mansion is presently owned by a retired pharmaceutical entrepreneur, who also owns several other properties in the South Florida area. He listed the property for sale after moving into a new home, but when the listing wasn’t producing the desired level of interest using traditional brokerage methods, the owner and Elmes hired Platinum to offer the mansion via luxury auction. The auction house specializes in the non-distressed sale of multimillion-dollar properties within and outside of the United States, and it has completed more than $480 million in luxury real estate auction sales to date, all on behalf of wealthy homeowners.
“We’re excited to be managing the sale of this exceptional waterfront property, and to be doing so in cooperation with Tim Elmes and his team,” stated Trayor Lesnock, Platinum’s founder and president. “Tim is a powerhouse waterfront specialist in this market, and our combined resources make for an incredibly potent, international sales platform.”
In addition to its water-frontage, the estate features a Mediterranean-inspired residence of nearly 11,800 square feet of interior space, with 6 bedrooms, 7 full and 2 half baths. There are two main living levels, in addition to a partial third level that offers a large entertainment space with a wet bar and waterfront terrace.
Additional features of the home include a two-story foyer with a sweeping spiral staircase, primary and “junior” master suites, a gourmet kitchen, fitness center, “captain’s quarters” with convenient dock access, three bars, a 4-car garage, 2,000-bottle wine room, home theater, and a wood-paneled study.
The grounds offer a gated entry, Chicago brick paver driveway, extensive landscaping with mature palms, and a vast outdoor living area situated on the waterway, complete with a custom pool and spa. The canal-side dock also contains a motorized lift for small watercraft such as jet skis.
Property previews will be held every Thursday-Sunday between 12pm and 4pm, until the auction date. Interested parties may contact Platinum Luxury Auctions at 800.215.1457 or visit PointLotLuxuryAuction.com for additional details.
About Platinum Luxury Auctions
Platinum Luxury Auctions specializes in the non-distressed, auction sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $480 million in luxury real estate auction sales to date, while consulting on more than $1.75 billion in additional luxury property worldwide. The firm is responsible for developing the luxury auctionSM model for high-priced real estate auctions.