Platinum Luxury Auctions Announces Auction of Ultra-Luxury Oceanfront Penthouse on June 21st, 2011 in Boca Raton, Florida

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May 17, 2011, 08:05 ET

MIAMI, May 17, 2011 /PRNewswire/ -- Platinum Luxury Auctions is pleased to announce the upcoming auction of an ultra-luxury penthouse condominium in Boca Raton, Florida. On Tuesday, June 21st, 2011 at 7:30pm (EDT) the property will be sold to the highest bidder at or above $4.2 million. It was previously offered for $8 million. Beginning May 16th, 2011 the property is open for previews by appointment. The auction is limited to registered bidders only.

(Photo: http://photos.prnewswire.com/prnh/20110517/FL03069 )

The penthouse is offered completely furnished. Over $4 million dollars was spent on a custom reconstruction of the property that was completed in 2010. Also included with the sale is a separate poolside cabana with a full bath. Additional property details and auction information may be found at LuxuryPenthouseAuction.com.

This property is one of only 27 ultra-luxury residences at the prestigious Excelsior Condominium, located directly on the beach in Boca Raton in the area known to many as the "Magnificent Mile." Well established as one of Palm Beach County's most coveted condominium addresses, the Excelsior offers its residents an opulent lifestyle with the highest degree of privacy and security.

As one of only two units occupying the top floor of the building, this is a true penthouse. Sweeping views of the Atlantic Ocean lay to the east, and of the Intracoastal Waterway and Lake Boca Raton to the west. Terraces on the north, east, and west sides of the residence provide ample space for relaxing outdoors.

The penthouse's custom reconstruction is a spectacular display of modern elegance encompassing nearly 5,100 square feet with 3 bedrooms and 2 and 1/2 baths. Design features include 48-inch slab granite floors with inlaid LED crystal lighting, hand-painted French murals, Italian glass mosaic bath decor, and hand-blown glass sinks. State-of-the-art technology features, including a programmable shower system, a ceiling-concealed television, and a Crestron home automation system, which controls audio/video, climate, security, lighting, and window treatments, match the penthouse's exquisite design. The unit was never occupied following its renovation, and it remains in "brand new" condition. A comprehensive guide of these superlative features can be found at LuxuryPenthouseAuction.com.

"This residence is a must-see for the luxury purchaser," according to Trayor Lesnock, President of Platinum Luxury Auctions. "Our research shows this to be the first ever oceanfront penthouse auction in this area. This is a rare opportunity at a very prized location in Palm Beach County."

The Excelsior is beautifully situated between the Atlantic Ocean and a segment of the Intracoastal Waterway known as Lake Boca Raton, and is also across from the esteemed Boca Raton Resort and Club. Excelsior amenities include an oceanside pool and spa, fitness center, social rooms, a grand lobby created by famed designer Alfred Karram II, and full time concierge, security and valet services.

About Platinum: Platinum Luxury Auctions is the only real estate auction company founded exclusively on luxury, non-distressed real estate auction experience. The firm's principals have closed more than $225 million in luxury real estate auction sales, and have advised or consulted on hundreds of millions of dollars in additional auction properties. Platinum also has luxury yacht and aircraft divisions. The firm only handles luxury properties and assets in excess of $1 million.

For more information, contact Platinum at 1.800.262.5132, via [email protected], or visit LuxuryPenthouseAuction.com.

SOURCE Platinum Luxury Auctions