Upmarket Condo Residence on Singer Island to be Auctioned

A residence in the highly upscale One Signer Island Condominium on Singer Island in Palm Beach County, Fla., is up for auction, according to Platinum Luxury Auctions, a specialist in upmarket, non-distressed residential auctions that's handling the sale.

Palm Beach, Fla.—A residence in the highly upscale One Signer Island Condominium on Singer Island in Palm Beach County, Fla., is up for auction, according to Platinum Luxury Auctions, a specialist in upmarket, non-distressed residential auctions that’s handling the sale. It’s unusual for any of the units in the property to come on the market, much less at auction, which will be an absolute auction with no reserve price and no minimum bid.

“Many luxury property sellers choose an auction because they’ve been unsuccessful selling their home traditionally, and are frustrated with the typical real estate sales process,” Trayor Lesnock, president and founder of Platinum Luxury Auctions, tells MHN. “A luxury auction creates a timeline for a date-certain sale, ensuring the seller a result within a defined timeframe.”

The auction will be on April 28th. As for why there’s no reserve price or minimum bid, Lesnock says that “auctions without reserves excite buyers because they know that the property will be sold on the auction date. The sale will be without hassles or negotiation, for a price that they—not the seller—dictates.”

Located on the oceanfront building’s fourth floor, “East Penthouse 402″ unit is more than 3,330 square feet in size, with 700 additional square feet of terrace. The residence includes three bedrooms and three and a half bathrooms. There are only 15 residences in the entire building, which has a gated entry and 24-hour on-site staff.

One Singer Island’s common amenities are posh indeed. They include a two-story lobby with glass tile mosaic and staircase, an entertainment room with dual lounge areas and full wet bar, and a billiards salon with adjacent wine room (featuring climate-controlled wine lockers for residents). There’s also a theater, a study and a fitness center, and just outside the building is a sizable loggia with a summer fireplace, Jacuzzi and heated pool.

Singer Island is a peninsular stretch of land (not technically an island) whose status as an upscale enclave was originally established by Paris Singer, son of Singer Sewing magnate Isaac Singer, who began development of the island as a haven for wealthy friends and travelers in the 1920s. Singer Island’s status as such a haven has remained over the years, as many exceedingly expensive condominium developments are now located in the area.