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SOURCE Platinum Luxury Auctions
Atlantic Crossing Stables equestrian compound sold for $1.1 million
VERO BEACH, Fla., Aug. 19, 2014 /PRNewswire/ -- Platinum Luxury Auctions, a firm specializing in the auction sale of unique, multimillion-dollar properties, has announced its fourth consecutive auction sale in Vero Beach, Florida. The 34-acre equestrian compound known as Atlantic Crossing Stables, located just off Interstate-95 and only twenty minutes from Vero's pristine beaches, has been sold for $1.1 million. The transaction was conducted in cooperation with listing agent David Ashcroft of Treasure Coast Sotheby's International Realty.
"The sale of four multimillion-dollar properties during the past two years in Vero Beach, including three sales within the first half of 2014, is an exceptional achievement for an area that is known to be a challenging auction market," said Trayor Lesnock, Platinum's president and founder. "Our continued success in this market speaks volumes of our team's ability to execute in an area where other auctions have consistently faltered."
As the former clubhouse and operational facility for the Vero Beach Polo Club, Atlantic Crossing Stables has many notable features, including an 11-acre "stick and ball" field, 3-acre bridle path, 48 stalls, 23 paddocks, 3 turnout pastures, 2 jumping arenas, and dressage and round pen arenas. The main barn boasts a clubhouse, laundry room, office, feed and utility rooms, 3 bedrooms and 4 bathrooms for staff, as well as an outdoor entertainment and barbeque area.
Although Vero Beach is well known for its collection of pricey waterfront communities, its reputation as an equestrian market is fledgling at best, which creates a challenge when trying to lure wealthy horse property aficionados to the area. Despite this hurdle, Platinum was able to identify an established polo and equestrian enterprise to purchase the property. "The purchaser is a very prominent polo operator who is well known within the equestrian world," noted Brad Pruitt, Platinum's director of business development. "It certainly pays to have a corporate Rolodex that contains this caliber of buyer, as the traditional sales process was simply unable to draw this audience to Vero Beach."
Prior to the closing of this sale, Platinum sold a golf course estate in Vero's John's Island community for $2.5 million in April, as well as two parcels of coveted oceanfront land within The Moorings community of Vero Beach for $3 million in May. In 2013, Platinum executed the auction sale of a waterfront estate within the Gem Island area of John's Island for more than $5.2 million, which was one of only three residential sales above $5 million within the entire Vero Beach marketplace that year.
Platinum is now setting its sights on promoting two, $10 million-plus properties for its September/October luxury auction cycle. The offerings include a $13 million Palm Beach County oceanfront penthouse, and an architecturally significant, $14 million waterfront estate in Cape Cod, Massachusetts. Details on these upcoming sales can be found at PlatinumLuxuryAuctions.com.
About Platinum Luxury Auctions
Platinum Luxury Auctions is a market-leading auction firm specializing in the non-distressed sale of multimillion-dollar properties nationwide. The firm's principals have closed more than $350 million in luxury real estate auction sales, and have consulted on more than $1.25 billion in additional luxury properties. Learn more at PlatinumLuxuryAuctions.com.
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