Platinum Luxury Auctions Produces One of Highest Prices In NY Lake Market

SKANEATELES, N.Y., Nov. 5, 2014 /PRNewswire/ -- Platinum Luxury Auctions, a firm specializing in the auction sale of multimillion-dollar properties nationwide, is pleased to announce the pre-auction sale of a 4.5-acre lakefront compound in Skaneateles, New York. While details on the final sale price will not be released until closing, Platinum reports that all of the terms of sale have been met and the price is in excess of the auction's $3.8 million reserve.

"The contracted price represents the 3^rd highest sale price in the lake market within the past 10 years," noted Platinum's president Trayor Lesnock. "In fact, the sale would have been in second place if it weren't for the sale of a prime, 24-acre waterfront parcel that sold privately just this past month," he added.

Offering 370 feet of water frontage on Skaneateles Lake, and known for hosting guests such as President Bill Clinton and Hollywood's Baldwin family of actors, the 15,600-square-foot property was sold in cooperation with listing brokerage Select Sotheby's International Realty of Saratoga Springs, represented by agent Ellen O'Connor. Local agent Linda Roche of Realty USA represented the buyers, a family with other real estate holdings in the area.

During the auction's three-week preview period, Platinum received more than 4,100 views of the property's online brochure and hosted 102 on-site property tours. Purchase negotiations began immediately prior to the auction's scheduled date of October 25th, when Platinum received a pre-auction offer from one of the prospects who had already registered to bid on the property.

The estate is comprised of three structures: the main residence, a waterside boathouse, and separate quarters for in-laws or staff. In total, the property offers 10 bedrooms, 9 full and 2 half baths. Built in 1987 and largely still in its original condition, the compound was perceived by many buyers as a land value proposition. "Although the home has excellent bones, it's original to 1987," stated David Ashcroft, Platinum's project manager for the sale. "Combined with its sheer size, most buyers just wanted to redevelop the parcel and keep only the boathouse in place. The lot has an excellent location on the lake."

The town of Skaneateles is a quaint community located within a short drive of Syracuse. With its charming storefronts and brick-lined sidewalks, it has long been known as a coveted destination for those seeking the allure of classic New England. The town offers a unique collection of hotels, inns, bed and breakfasts, restaurants, boutique shops and art galleries.

For more information about Platinum's other, upcoming luxury auctions, visit www.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 $370 million in luxury real estate auction sales, and have consulted on more than $1.35 billion in additional luxury properties.

SOURCE Platinum Luxury Auctions

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