A waterfront mansion in the Las Olas Isles neighborhood of Fort Lauderdale that was originally built for Richard Yuengling of the D.G. Yuengling & Son beer empire will be sold at a live auction on June 30. Miami-based Platinum Luxury Auctions is managing the sale in cooperation with the property's listing agent, Tim Elmes of Coldwell Banker Residential Real Estate in Fort Lauderdale.
The mansion was originally offered for sale at $10 million, but will now be sold to the highest bidder meeting or exceeding a bid of $4 million, the reserve price for the auction.
According to a press release issued by Platinum Luxury Auctions, Yuengling built the 11,800-square-foot estate shortly after he acquired the property in 1999. It features six bedrooms, seven full and two half baths, a gourmet kitchen, fitness center, captain’s quarters, a four-car garage, home theater and a 2,000-bottle wine room.
The mansion is presently owned by a retired pharmaceutical entrepreneur, who decided to auction it when the original listing failed to produce the desired level of interest among potential buyers.