Auction in the Bear's Club

Jack Nicklaus had eyed the choice piece of property just south of Admirals Cove for a long time as the ideal place to finally build his private club.  After building courses everywhere for others he was looking for that perfect location and close to his home.  So when he was able to acquire it he established The Bear's Club and the Ritz-Carlton chose to occupy one half of the property.

With careful attention to the existing flora and fauna, he created two courses, one for each development.  In fact, the Ritz is home to a nesting pair of bald eagles.

On the eastern side, he created a very exclusive club and still makes adjustments to the course on a continuing basis.  Homes in The Bear's Club are some of the biggest estate homes in the area.  In fact, Michael Jordan paid around $ 4 million for two lots where he is now building a house, if you can call it a house, that looks more like a resort.



Next week, an 18,000 square foot home is going to auction.  Typically auctions have the connotation of nasty bankers taking the family farm while the family weeps on the sidelines.  But auctions have long been used to move "one of a kind" items quickly.  And an 18,000 foot house qualifies as one of a kind.

Originally listed at nearly $12 million, the auction will start around $ 5 million but unlike absolute auctions where the highest price, whatever that is, takes the property there will be a reserve price that will have to be met in order to take ownership.

A couple of years back I attended the auction of two penthouses on Singer Island in The Oasis condos.  They had been listed at between $ 4-$6 million but never sold so they were auctioned and as I recall they went for around $ 2 million each.

If you are looking at homes for sale in Jupiter you can see them all using the fastest MLS search available at Coastal Florida Real Estate.  Every home and every pictures is there in real time.  No other site has more or more current information.  If you need a little guidance, I have lived here 22 years and can show you the best locations and some great opportunities.  You can reach me at 561-762-4073 or if you prefer email use coastalflrealestate@gmail.com.