Thread: Unsold mega-mansions hit the auction block

Unsold mega-mansions hit the auction block

These luxury homes were languishing on the market, or in builder inventories, as Florida real estate imploded. Now Sotheby's is hoping to auction them off at an event on March 28. The owners no doubt have their fingers crossed.



Fort Lauderdale

Original listing price: $14,999,000
Time on market: 5 months
Bedrooms: 9
Baths: 9 full, 4 halfs
Square feet: 20,763

Description: This Mediterannean villa was built in 2003 and is packed with luxury features. Inside are limestone floors, balconies of cypress wood and a wine cellar. There's also a well appointed gym, indoor pool, massage room and spa, a theater and even a private nightclub.

Outside is a putting green, infinity pool, patios and decks on a gated estate, beautifully landscaped and maintained. And it's all just minutes from fashionable shops and some of Fort Lauderdale's best restaurants.

For further information: Luxury Portfolio Auctions
By Les Christie

http://money.cnn.com/galleries/2008/rea ... index.html

Hutchinson Island



Original listing price: $2,200,000
Time on market: 2 years
Bedrooms: 3
Baths: 3
Square feet: 2,800

Description: This classic beach house comes with 75 feet of ocean front and another 75 feet on the Indian River Intracoastal Waterway, north of Palm Beach. It is geared to enjoying the yachting lifestyle with a boathouse and dock 100 steps from the front door.

There are large decks front and rear where the views are superb. Indoor space is light and airy with an open plan dining room and kitchen. Luxury features include beautifully finished hardwood floors, ceiling fans and wet bar.

For further information: Luxury Portfolio Auctions

http://money.cnn.com/galleries/2008/rea ... ion/2.html

Delray Beach



Original listing price: $4,695,000
Time on market: New
Bedrooms: 8
Baths: 8 full, 1 half
Square feet: 10,663

Description: This magnificent, four-story estate is located on five acres of landscaped grounds in Palm Beach County. A short list of its luxury features include a reception room with vaulted ceilings and fireplace; a huge kitchen with mahogany cabinets, Thermidor appliances and breakfast nook; media room; and formal dining room.

The master suite boasts marble inlaid floors, breakfast bar and his-and-her baths. There are infinity soaking tubs, multiple-head showers and elaborate vanities. Outdoors is the pool, complete with its own artificial beach and waterfall.

For further information: Luxury Portfolio Auctions

http://money.cnn.com/galleries/2008/rea ... ion/3.html

Key Largo



Original listing price: $6,700,000
Time on market: New
Bedrooms: 5
Baths: 6
Square feet: 8,879

Description: The roof-top terrace of this beach-front Florida contemporary commands gorgeous views of the Keys and surrounding water ways. Guests can soak in an eight-person Jacuzzi and look for passing dolphins, manatees and pelicans.

Indoors, extras include an outdoor kitchen, wet bar, travertine floors and marble baths. But outdoor living is king here with Gulf breezes cooling the sub-tropical heat. There's a T-shaped, concrete dock that extends 100 feet into Largo Sound that can accommodate up to eight large boats. There's also a boat launch, sand beaches, a Tiki hut and marble decking on the one-acre property.

For further information: Luxury Portfolio Auctions

http://money.cnn.com/galleries/2008/rea ... ion/4.html

Fort Lauderdale



Original listing price: $5,900,000
Time on market: New
Bedrooms: 6
Baths: 6 full, 2 halfs
Square feet: 9,686

Description: This contemporary palazzo is a golfer's paradise, sited on Coral Ridge Country Club. It features hardwood floors, formal dining and living rooms, a gourmet kitchen and two fireplaces to keep residents warm during those chilly Florida winters. The rooms are set off by luxury details such as thick drapes, built-in cabinets and elaborate chandeliers.

It's also geared to outdoor living with a magnificent terrace with fairway views, a large swimming pool and lovely grounds landscaped with cypress and palm trees. There's a four-car garage.

For further information: Luxury Portfolio Auctions

http://money.cnn.com/galleries/2008/rea ... ion/5.html

Fort Lauderdale



Original listing price: $1,495,000
Time on market: 2.5 years
Bedrooms: 5
Baths: 3 full, 1 half
Square feet: 3,935

Description: This modern cottage may appeal to more modest millionaires. It too sits on the Coral Ridge Country Club, which, in addition to the Robert Trent Jones-designed links, boasts a yacht club.

It's got marble floors, separate family room and a golf course view. Outside is a sweeping circle drive, lovely planted grounds and a 30' by 15' swimming pool.

For further information: Luxury Portfolio Auctions

http://money.cnn.com/galleries/2008/rea ... ion/6.html

Fort Lauderdale



Original listing price: $2,999,000
Bedrooms: 5
Baths: 3 full, 1 half
Square feet: 5,000

Description: A red-tile roof Mediterranean villa with arched, fan-light windows, recessed balconies and Roman columns, this luxurious home is perfect for devotees of the sporting life. Outdoor entertainment features 130 feet of water frontage and a heated pool complete with spa and gazebo.

Indoors, the wide open kitchen features high-end appliances, mahogany cabinets and granite countertops. There's a large media room, marble floors and the master suite boasts a morning bar and private terrace.

For further information: Luxury Portfolio Auctions

http://money.cnn.com/galleries/2008/rea ... ion/7.html

I am willing to bet a majority of these homes wore built will Illegal Alien Labor... Living in Florida I have seen it time and time again.

Greed and excess is killing the working class and now the wealthy are finding out the house is built of cards and all comes tumbling down

I bet coyotes would find these to be a good deal for drop houses, they could stuff a couple hundred illegal alien into them, and look at that giant lawn for parking 100 cars!

Originally Posted by Bowman

I bet coyotes would find these to be a good deal for drop houses, they could stuff a couple hundred illegal alien into them, and look at that giant lawn for parking 100 cars!

At $3000 a head, they're probably the only ones that can afford these homes right now..