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Going Once...

Will Vero's Gatsby House Sell? 






VERO BEACH – Inspired by "The Great Gatsby" when it was built in 2001, Palazzo di Mare will be auctioned Saturday, April 30, at 11 a.m.

The  28,000-square-foot beachfront home boasts six bedrooms, ten bathrooms, 32-foot ceilings, stained glass (there’s the Gatsby influence), a gourmet kitchen, a sound-proof movie theatre, a library, a game room, a rooftop solariam, elevators (yes, that’s plural), a 14-car garage, a helipad, a wine vault and – get this – a Venetian-inspired pool with14-carat gold inlays.

According to a 2013 Wall Street Journal story, the home was first put up for auction in 2007, but the auction was canceled just before bidding began. It has been on and off the market since then with list prices gradually dropping from $33.5 million to $20 million. The auction reserve price is $12.9 million.

The house is being sold “as is, where is,” and interested buyers have had opportunities to view it during weekend open houses held Saturdays and Sundays from 1 to 4 p.m. since April 9. There will be one this weekend (April 22 and 23) and a final one, scheduled for Friday, April 29, from 1 to 4 p.m. Private appointments are also available (call Decaro Luxury Real Estate Auctions at 800.332.3767 to book one).

We took a look at the bidder information package and realized two separate parcels are being sold. Parcel A includes the house on 3.3 acres (2150 South Highway A1A) and parcel B consists of 1.3 acres on the west side of Highway A1A, running to the Intracoastal Waterway, with a dock. Public record shows that the land was purchased in 1994 for $650,000.

Interested buyers must present a certified cashier’s check for $100,000 to obtain a bidding number and the winning bidder must immediately pay a 10 percent deposit. A 10 percent buyer’s premium will be added to the winning price.

For more photos and information, see decaroauctions.com.