Concierge Auctions to Sell Historic, Family-Owned Estate C1924 With Direct Harbor Views in Martha's Vineyard, Massachusetts at Auction

MARTHA'S VINEYARD, Mass., Sept. 29, 2011 /PRNewswire/ -- Concierge Auctions will sell a historic Edgartown estate built in 1924, owned for generations by the same family, within walking distance to shops and restaurants and with direct frontage on the Inner Harbor. Bidding will be held October 22nd-28th at EdgartownAuction.com. Originally listed for $9.35 million, the starting bid is $3.25 million, and the Buy-it-Now price is $7.5 million. The sale is being conducted in cooperation with listing agent Gerret Conover of LandVest, a Christie's International Real Estate affiliate, and co-listing agent Tom Wallace of Wallace & Co. Sotheby's International Realty.

"This auction presents an ideal combination – a premier, historic property and sellers who are committed to finding a new owner," stated Conover. "The result is the best buying opportunity in Martha's Vineyard. And with a 2.5% co-operating broker commission offered, any agent with a potential buyer should make sure they are aware."

Cared for since 1928 by generations of the same family, 31 S. Water Street is a historic residence offering six bedrooms, five baths and four levels of direct harbor views across an expansive lawn, complete with an in-ground swimming pool. Located in the heart of Edgartown's historic district, mere steps from the Village, the property displays the quintessential Martha's Vineyard historic architecture of wood shingle siding and crisp, white trim.

"My father loved the sea and the summers he spent as a child growing up on the island. He and my mother were drawn to Edgartown, in particular the Harbor. They purchased this home in 1928, and our family has lived and spent summers here every since," stated one of the family siblings. "This home is a true gathering place, and the pool in particular is a very important aspect where we all sit together, talk and share experiences. You can buy a house here and be part of this multi-generational Vineyard family within minutes. This is a warm, welcoming community where you become part of the fabric very quickly and are woven."

An extensive research and development program has been completed with renowned architect Patrick Ahearn, whereby a detailed renovation plan was devised to enhance and expand upon the current structures while keeping with the Village theme and historic style. The plan includes updating and addition to the main residence, rebuilding the existing swimming pool and new landscaping. Approvals have already been received from the Edgartown historic district and the conservation commission.

"As the preferred auction partner to Sotheby's International Realty, we are proud of the association with this seller organization," Wallace stated. "I'm excited to be working with Concierge firsthand and look forward to identifying a new owner of this incredible property next month."

"We're thrilled to conduct another auction on Martha's Vineyard in addition to our October 14th auction without reserve of 9 Clay Pit Road in Aquinnah," stated Laura Brady, Vice President of Marketing for Concierge Auctions "The history of 31 S. Water Street and the family that has cherished it for generations is a remarkable story. We're confident we will find a new buyer to carry that enjoyment into future years. Interested buyers should preview the property and conduct any desired research in preparation to place bids October 22nd-28th."

Located in Dukes County, Edgartown has the largest population and area in the entire county and all of Martha's Vineyard. Edgartown was an old whaling port and is now a summer and tourist destination with a multitude of houses built by whaling captains and other prominent people of prior centuries. The growth of the population over the past 25 years has led to a period of intense renewal of these old houses. Edgartown was used as the main shooting location for the town of Amity in Steven Spielberg's 1975 blockbuster Jaws. Ferries to the island sail from Massachusetts, Rhode Island and New York City, and the Martha's Vineyard Airport is centrally located for public and charter flights. The Edgartown Light at the end of north Water Street defines the entrance to the Harbor, and South Beach, a small part of the ocean beach that runs the entire southern length of the island from Edgartown to Aquinnah, is a major tourist destination.

Bids will be accepted October 22nd-28th at EdgartownAuction.com. A 2.5% commission is offered to the buyer's broker. The property is available for preview daily between 1-4pm and by appointment. For more information call 800-211-1785 or visit EdgartownAuction.com.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide through an accelerated marketing process that obtains fair market value for high-end properties in a 60-day timeframe. As a preferred auction partner to Sotheby's International Realty® and other luxury brokerage firms nationwide, the company has executed auctions from New York to Hawaii and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories.  The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years.  For more information, call 888-966-4759 or visit ConciergeAuctions.com.

SOURCE Concierge Auctions