Published: March 29, 2011
Popular Sponsors Historic Sheldon Good & Company Auction in Puerto Rico
NEW YORK - (BUSINESS WIRE) - Sheldon Good and Company, a Racebrook Portfolio Company and America's
leading real estate auctioneer, with the sponsorship of Banco Popular
Puerto Rico, will auction a selection of 101 new luxury residences and
villas from five outstanding developments located throughout Puerto
Rico. These properties span the entire island, from Cabo Rojo in the
west, Isabela in the north to RÃo Grande and Caguas in the east. Each of
these state-of-the-art properties, all of which are developer-owned,
feature a host of resort-style amenities and services, as well as
picturesque views of either the Caribbean Sea, the Atlantic Ocean, or
beautifully landscaped Golf and Country Club greens. Suitable for first
time homebuyers, second-home buyers and even investors, these fine
properties were originally priced from $275,000 to $511,000. The
suggested opening bids at the auction will start as low as $80,000.
Twenty-five (25) of the 101 residences and villas available will be sold
"Absolute," regardless of price, on May 21 and May 22, making this a
truly remarkable two-day only buying opportunity.
Villas de Campomar in Cabo Rojo. (Photos: Business Wire)
The modern and exclusive condominium residences and villas to be
auctioned are located in the following new developments: Villas de
Caguas Real in Caguas, Villas de Campomar in Cabo Rojo, Grand Bay Beach
in RÃo Grande, Náutica del Mar in Cabo Rojo and Haudimar in Isabela.
"The developers of these spectacular properties have chosen to use the
auction process, to either kick off their sales program or to close out
the last remaining units, and at the same time qualified buyers can take
advantage of special 100% financing from Popular Mortgage," said John
Cuticelli, CEO of Sheldon Good & Company. "Our unique Buyer's Choice
method of bidding allows buyers the opportunity to pick the residence of
their choice at a price the buyer wants to pay. Developers will benefit
by selling a large quantity of residences in a single weekend. It's a
win-win situation for everyone involved," added Cuticelli.
Javier Uribe, Managing Director of Sheldon Good and Company's San Juan
office, said, "This is the first auction of its kind in Puerto Rico, not
a foreclosure, giving the buyer the right to choose the residence they
want starting at the very first round of bidding. Never before has a
single auction brought together developments of this caliber, located in
every desirable area of the Island, and offered them in one exciting
buying event. In the case of Villas de Campomar, the 22 units being
offered are the remaining residences to be sold by the developer, which
speaks to the quality of these properties and the successful sales they
have already experienced," added Uribe.
Beginning April 16th, interested buyers can view the available
residences during pre-auction Open Houses on Saturdays and Sundays from
11am to 3pm at each of the properties. Additional Open Houses will take
place at each of the properties on Tuesday, April 19th, Wednesday, April
20th and Thursday, April 21st from 11am to 3 pm.
The auctions will take place on Saturday, May 21st and Sunday, May 22nd,
2011 at the San Juan Marriott Resort & Stellaris Casino, 1309 Ashford
Avenue in San Juan. There will be a total of five separate auctions, one
auction per property, within this two-day period.
For information about the auctions and to view the available units at
pre-auction Open Houses, please call Sheldon Good & Company at
800-480-0061, 787-303-0326 or visit www.PuertoRicoCondoAuction.com.
ABOUT SHELDON GOOD & COMPANY
Sheldon Good & Company is America's Real Estate Auctioneer. As the
nation's leading provider of strategic marketing and structured
accelerated sales solutions, the firm has a 45-year track record of
proven results, has sold billions of dollars worth of properties in
every real estate asset class, and has the highest closing ratio in the
industry.
Sheldon Good & Company is a Racebrook Portfolio Company licensed in
Puerto Rico, and part of a family of enterprises offering a wide range
of services in the special situation and opportunistic real estate
sector that include: advisory and consulting services; acquisition,
investment and disposition capabilities; and workout and restructuring
services. The firm's headquarters are based in New York City, with
primary offices in Chicago, Miami, San Juan, Puerto Rico, Denver, Los
Angeles, San Francisco and other strategic locations nationwide.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6664412&lang=en
For Sheldon Good and Company
Paradigm Associates
Guillermo J.
Ramis/Francisco Ramis, 787-782-2929
framis@paradigmpr.com
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