"A mansion in the Coronado Cays went for $24.1 million at a Hong Kong auction last week after years of struggling to find a buyer. The newly built mansion at 3 The Point went on sale in November 2023 for $43 million, but had its priced reduced to $37.5 million a year later. The sellers then turned to Concierge Auctions, a New-York based luxury real estate firm, resulting in a sale that took 52 days."
"A live auction was held at luxury hotel The Upper House in Hong Kong on Thursday. There were nine bidders on the property, with the bidding starting at $19 million. The sale is technically still pending because the home is in the escrow process, which can take around a month. The buyer was not revealed by Concierge Auctions but public deeds will be available once the sale is finalized."
A Coronado Cays mansion sold for $24.1 million at a Hong Kong auction after years on the market. The newly built 11,715-square-foot home at 3 The Point listed in November 2023 for $43 million and later reduced to $37.5 million. Concierge Auctions conducted the sale, which closed in 52 days after nine bidders competed, starting at $19 million. The transaction remains in escrow and public deeds will be recorded once finalized. Global bidders could participate with a $100,000 deposit and proof of funds. The seven-bedroom, 9.5-bath property offers 320 feet of private bayfront, a theater, and a 3,600-square-foot rooftop deck with pool and spa.
Read at The Mercury News
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