Condominium

GrandView is a 150-unit luxury condominium building in the heart of Annapolis Towne Centre, an upscale, lifestyle development. After initial sales were less robust than originally forecast, the seller sought to re-ignite the market.

Sheldon Good & Company was engaged by the Seller to conduct an extensive auction marketing campaign. Recognizing that the demographic could include buyers seeking either a new primary residence as well as a vacation or second-home property, the advertising plan focused on Annapolis, Baltimore, and Washington D. C. using traditional media and digital/social marketing techniques.

• 1,826 inquiries
• 1,165 property inspections
• 335 Bidder’s Information Packets ordered
• 450 attendees at auction with 175 registered bidders
• 33 units sold at the auction; 11 units sold post-auction

Condominium

New Amsterdam is a 30-unit condominium located in the Washington Heights neighborhood of Manhattan with excellent access to public transportation, regional highways, and the adjacent colleges and medical centers. However, due to slow initial sales, the seller sought to increase market exposure and accelerate the closeout of the building.

Sheldon Good & Company was engaged by the Seller to conduct an extensive local and regional auction marketing campaign. The advertising plan focused on the New York City Metro market using regional print media and a variety of digital & online media techniques that drove the target demographic to the buying opportunity.

• 1,807 inquiries
• 769 property inspections
• 233 Bidder’s Information Packets ordered
• 89 registered bidders
• All 26 units sold at auction

Workout / Restructuring / Bankruptcy

A large scale owner/operator of 3,000 multi-family units needed to restructure a portion of their loans. The seller identified a portfolio of 11 assets equating to approximately 1,000 units in New Jersey and Pennsylvania to be sold individually at auction.

As part of the workout agreement, Sheldon Good & Company was engaged by the foreclosing lender in a structured 363-Sale program. The properties, by consent, were placed into a Chapter 11 proceeding. By conducting a 363 Sale, Sheldon Good & Company provided the lender with the ability to evaluate whether maximum net recovery of each asset could be achieved by 1) selling an asset to a third party, thus allowing the lender to remain outside the chain of title or 2) credit bidding and taking the property into their own portfolio.

All eleven properties were advertised to be sold absolute, regardless of price, pending approval of the US Bankruptcy Court.

• 300 auction attendees
• 120 registered bidders
• All 11 properties sold for $50 million

Condominium

East River Tower is a 74-unit luxury condominium building in the Borough of Queens, New York. Although the property has breathtaking views of Manhattan and high-end finishes, there were no sales in the building despite a year-long conventional marketing effort.

Sheldon Good & Company was engaged by the seller to conduct a Grand-Re-Opening & Property Launch campaign. Using sophisticated momentum-building auction-marketing techniques and recognizing that the target demographic were young professionals that work in Manhattan, the marketing plan focused on Manhattan, northern New Jersey, and southeastern Connecticut using print media as well as extensive digital and social media marketing on popular websites.

The campaign goals included true price discovery and the sale of 15-25 units at auction & 10 units post-auction to establish the property in the marketplace as well as to obtain approval for end-loan financing from Fannie Mae.

• 2,547 inquiries
• 1,397 property inspections
• 420 Bidder’s Information Packets ordered
• 500 attendees at auction with 220 registered bidders
• 19 sold at auction and 8 sold post auction

Luxury Estate

In 1960 Vinter Robert Mondavi (instrumental in making Napa Valley, CA, one of the world’s premiere wine centers) and his wife, Margrit, commissioned Cliff May (considered by most architectural historians to be the father of modern California Ranch Homes) to design a home for their personal use. The home is 11,500 square feet with a guesthouse, two lighted tennis courts and 2 acres (1 hectare+) suitable for grapes in the Stags Leap AVA.

Located on a 56-acre estate on the highest knoll in Napa Valley, it is open to 360-degree views of the valley below. Despite its provenance, location, and architectural significance, the property (originally listed for $25 million) failed to sell during an 18-month conventional campaign.

Sheldon Good & Company developed a comprehensive 8-week multi-level national and international momentum-building marketing program and promoted the Estate with a minimum bid of $13.9 million, which was conducted as a sealed bid auction.

• 11,500 web visit inquiries
• 2,000 property inquiries
• 91 prospects requesting additional property information
• Inquiries geographically distributed from all 50 states and 50+ countries
• Private showings attracting numerous attendees
• Multiple bidders from Asia and Europe
• Completed sale “as is” in 8 weeks with no contingencies
• Transaction closed in 5 days

Luxury Estate

This Mediterranean masterpiece is a 23,000 square foot home on 1.5 acres on the northwest coast of Mercer Island, an affluent suburb of Seattle. The home offered direct frontage on Lake Washington with private dockage, a trout pond, an indoor saltwater pool, and three kitchens. The home was conventionally listed for sale for four years. However, the sellers received no offers despite numerous price reductions.

Sheldon Good designed a customized sale strategy with a high-end, sealed-bid auction format to market and sell the home within a two-month period. Based upon market research, the home was advertised in local, regional, national, and international media. The state-of-the-art public relations program resulted in coverage in the Wall Street Journal, Forbes Magazine, Seattle Times, and Puget Sound Business Journal.

• 86 inquiries
• 8 property inspections
• Two preemptive bids received three weeks prior to the auction date
• Home was sold and closed "as-is" with no contingencies

Condominium

Little Tokyo Lofts is a 161-unit true loft conversion project, having originally been the west coast headquarters for Westinghouse Electric Company. Despite being located in a transitional area in downtown Los Angeles, 85% of the units were sold when the property was introduced to the market. However, sales stagnated afterwords and the remaining 22 units remained unsold.

In a proactive approach, the developer retained Sheldon Good & Company to conduct a highly publicized auction of the remaining inventory. Based on the buyer demographic, the public relations and advertising campaign utilized an innovative digital media approach (in addition to traditional print media) that focused heavily on the internet, blogs, and creating a virtual “buzz”.

• 9,768 inquiries
• 342 property inspections
• 78 Bidder’s Information Packets ordered
• 71 registered bidders
• All 22 units sold at the auction

Workout / Restructuring / Bankruptcy

The President Abraham Lincoln Hotel is a twelve-story, 316-room, full-service, hotel located in the heart of the Springfield’s business and government center.

After the previous owners defaulted on a state-backed loan, the property entered into receivership and fell under the control of the State Treasurer of Illinois. The State sought to effectuate a timely sale and recover as much of the State’s investment as possible.

Believing the buyer would come from a regional geography due to the hotel’s location within a smaller metropolitan market, Sheldon Good & Company implemented a local and regional advertising program with limited national exposure. To build on the hotel’s highly publicized past, as well as to create a fully transparent transaction, an open outcry auction format was utilized.

• 1,759 inquiries
• 34 Bidder’s Information Packets requested
• 16 property inspections
• 5 registered bidders
• The property sold and closed “as is” with no contingencies

Condominium

The Residences at Seven Bridges is a 140-unit, twelve-story mid-rise condominium building set along an acclaimed golf course in a western Chicago suburb. After a very successful beginning, sales slowed dramatically during a market downturn. The developer had several other active projects in the Chicago area and wished to focus their attention on those developments.

Sheldon Good & Company recommended a Phased Auction Program with an initial auction, followed by a subsequent closeout auction.

All of the condominiums were sold in the two auctions. The developer was pleased as price integrity was maintained and buyers were pleased with the substantial value received at the auctions.

• 2,477 inquiries
• 655 property inspections
• 116 Bidder's Information Packets requested
• 275 auction attendees
• 79 registered bidders

Commercial Property

The Ambassador Building is a six-floor, 282,000 square foot Class A office building situated on a 23-acre campus in Kansas City, Missouri. Each floor consists of 47,000 square feet of office space, with four of the floors including a mail facility, kitchen, break room, and conference space. Originally built for a long-term single occupant as a flagship property, the building was approximately 90% vacant.

The Ambassador Building was on the market for an extended period time. While it received offers, issues during due diligence prevented any sales from closing. Furthermore, the seller was concerned about the depth of market for the property.

Pritzker Realty retained Sheldon Good & Company to create a deadline in the marketplace and to sell the property on an "as is, where is" basis with no contingencies. Sheldon Good & Company recommended and implemented a sealed bid program. The property was advertised on a local, regional, and national platform over an 8-week period. The transaction utilized a low minimum bid to garner nationwide interest and to demonstrate to the marketplace that the seller was motivated.

• 68 inquiries
• 10 property inspections
• 10 Bidder's Information Packets requested
• 2 sealed bids received
• Property sold and closed within 45 days of the auction

Condominium

High Country Club was one of the country’s largest members-only destination clubs with vacation properties in popular resort markets. The properties included single-family homes, condominiums, and townhomes in premier vacation and second-home communities in Colorado, California, Florida, and New York. However, the Club was thrown into bankruptcy due to the perilous economy and lack of members.

The trustees of the Chapter 7 Bankruptcy case for High Country Club approached Sheldon Good & Company to monetize the assets. Seven of the properties were advertised to be sold “Absolute, regardless of price”, with suggested opening bids of $150,000.

• 1,127 inquiries
• 547 property inspections
• 324 Bidder's Information Packets requested
• 199 registered bidders
• All properties sold

Commercial Property

ING Clarion had made a strategic decision to orderly dissolve two of its multi-family real estate funds. One of the fund’s properties was a portfolio of apartment buildings in St. Louis consisting of approximately 1,000 units. After conventional brokerage results were less than desirable, ING sought to expedite the sale of the portfolio without suffering a bulk sale discount.

Sheldon Good & Company was engaged to maximize the value of the portfolio by selling each property individually. Sheldon Good & Company’s portfolio auction program was designed to simultaneously market properties within a portfolio on a “buy one, some, or all” basis. All the properties were offered for sale individually and on the same day allowing ING to evaluate the portfolio’s value by selling to individual buyers versus one bulk buyer.

• 2,426 inquiries
• 56 Bidder’s Information Packets requested
• 61 property inspections
• 24 registered bidders

Condominium

The Beacon is a luxury, full-amenity, high-rise building that is Phase I of a multi-phase, planned development by Metrovest Equities, a prominent New York City developer. The 365-unit condominium project was approximately 75% sold out when sales slowed. The developer had 45 units left, of which about half had been leased. They wished to reduce remaining inventory and free up capital to focus on the next phase of the project.

Metrovest Equities hired Sheldon Good & Company as the first-choice marketing strategy to accelerate sales and to close out the balance of the unsold Phase I units. The project was advertised as a developer’s closeout sale with 25 units available.

• 1,300+ inquiries
• 750 property inspections
• 217 Bidder's Information Packets requested
• 300 auction attendees
• 105 registered bidders
• 31 units sold at auction
• 55% of the units closed within two weeks of the auction; remaining inventory closed in 45 days

Workout / Restructuring / Bankruptcy

Situated in the heart of Aspen, the fully entitled and permitted 10,000 square foot landsite allowed for 37,000+ square feet of mixed-use development. Though designed to contain office, retail, and residential spaces, construction ceased due to a variety of funding and ownership issues. As a result, only the foundations and first level floor-plate were completed.

Sheldon Good & Company was engaged by the U.S. Bankruptcy Court to conduct a national marketing campaign to ensure top dollars for the creditors. Sheldon Good & Company implemented an advertising program with national exposure and offered bidding by Internet for potential buyers unable to attend the auction in Colorado. To create a fully transparent transaction, an open outcry auction format was utilized.

• 175 inquiries from 26 states
• 30 property inspections
• 34 Bidder’s Information Packets ordered
• 4 registered bidders
• The property sold and closed “as is” with no contingencies

Condominium

60 Parkway is a 180-unit luxury condominium building in the New York Metro area. After successfully selling 120 units within the first three years, sales slowed dramatically. The seller, a regional developer, decided to divest itself of half of the remaining inventory in order to free up capital and reduce the monthly carrying costs.

Sheldon Good & Company used an aggressive “Absolute” strategy offering thirty of the total remaining units in the auction. The auction received extensive media attention from numerous news outlets throughout the New York and New Jersey area.

• 1,393 inquiries
• 535 property inspections
• 221 Bidder’s Information Packets requested
• 90 registered bidders
• 36 units sold at the auction

Condominium

A master planned resort and golf community located just 15 minutes from Rehoboth Beach, The Peninsula has been voted Delaware’s Best Resort Community and features the state’s first Jack Nicklaus Signature Golf Course. The Peninsula encompasses 776 acres, consisting of condominiums, townhomes, single-family residences, custom home sites and custom homes built by multiple developers. Asking prices range from $200,000 to $2 million. A majority of the 1,200 residential properties had not been built and Miller & Smith, the Washington D.C. region’s third largest builder, was seeking to sell their standing inventory of 18 townhomes and single-family villas.

After a successful opening, absorption slowed to only one sale per month. The builder reduced prices, increasing absorption to eleven sales in the following three months. Despite the price reductions, absorption declined again to only one sale in the subsequent seven month time period.

Instead of entering another cycle of price reduction, the builder retained Sheldon Good & Company to sell all of the remaining inventory. All 18 three- and four-bedroom townhomes and single-family villas were advertised. The pool of potential buyers came from New York, New Jersey, Philadelphia, Delaware, Washington DC, and Baltimore.

• 1,726 hits to the web page, with 1,448 clicks through for more information
• 2,164 downloads of the availability list, floor plans, and the brochure
• 1,300+ requests for further information
• 300+ property inspections
• 100+ Bidder's Information Packets requested
• 250 auction attendees
• 67 registered bidders
• 18 properties were sold at auction. A quick-close incentive program brought 72% of the properties to close within 10 days of the auction, with the remaining units closing within 45 days

Condominium

Courtland Arms is a 34-unit condominium building in East Rutherford, New Jersey, just minutes from Manhattan. The seller, a local developer, had only sold three units in the two years since the building’s completion.

The developer retained Sheldon Good & Company to conduct a highly publicized auction of 26 of the remaining units while retaining several units designated as affordable housing. An aggressive advertising and public relations campaign garnered much local media interest.

• 1,000+ inquiries
• 960 property inspections
• 270 Bidder’s Information Packets ordered
• 180 registered bidders
• All 26 units sold at the auction

Condominium

The Ashmore is a 404-unit project comprised of 15 four-story buildings, located in Germantown, Maryland, a suburb of Washington D.C. San Diego-based Fairfield Residential sold 300 units in the first 18 months of conventional marketing. Their absorption rate had fallen to less than one unit per month and they wished to close out the remaining 57 units.

45 of the units were advertised, subject to minimum bids. The anticipated absorption for the first auction was 40 to 45 units.

• 900 inquiries
• 363 property inspections
• 75 Bidder's Information Packets requested
• 250 auction attendees
• 62 registered bidders
• 57 units (the entire remaining inventory) were sold at auction, retaining 100% of the bidders in a 15-day recession state
• 80% of the units closed within 10 days of the auction

Condominium

The Peninsula on Lake Oconee is a 36-unit townhome development in Eatonton, Georgia. A premier second-home community, each of the units offered a full view of popular Lake Oconee and an individual boat slip. In the six-month period immediately following completion, absorption was just over two units per month, yielding 13 total sales. The following six months saw a 46% decline in absorption, and during the next 18 months, no sales took place.

The developer hired Sheldon Good & Company to retire the outstanding debt, “unlock” $2 million in partnership equity, and close out the project. Sheldon Good & Company implemented an aggressive minimum bid strategy for the remaining 16 units and a wide-ranging advertising campaign focused on print media, radio and Internet.

• 4,589 inquiries from 22 states
• 331 property inspections
• 62 Bidder’s Information Packets ordered
• 60 registered bidders
• All 16 units sold at the auction

Luxury Estate

This Gilded Age, Versailles-inspired estate includes a mansion, carriage house, and oceanfront lot on 7.2 acres in an exclusive area of Newport, Rhode Island. Designed by renowned architect Horace Trumbauer, the 30,982 square foot mansion was commissioned by streetcar magnate George Dunton Widener just prior to his death on the Titanic.

One of the last remaining Gilded Age estates still in private hands, the seller was unsure how to value the property. The previous record sales price for a private estate in Rhode Island was $10.8 million. Faced with the challenge of marketing this historic property to a niche group of potential buyers, the owner of Miramar retained Sheldon Good & Company to maximize the sales price of this truly unique estate.

Sheldon Good & Company implemented a 10-week sales program directed at luxury buyers in local, regional, and national markets. To maximize value, an offering was designed that would allow the seller to sell the entire estate to one buyer or to divide it into three separate, buildable properties. This program culminated in a successful sealed-bid auction sale of the estate.

• 158 inquiries
• 30 property inspections
• 4 individuals bid on the property
• The winning bidder purchased the property in its entirety for $17.15 million without contingencies and closed in 30 days.
• The Miramar Estate set a new record for home prices in Rhode Island.

Condominium

Ironwood on the Green is a 204-unit condominium project located in a suburb of Boston. Two seven-story buildings are adjacent to the fifth fairway of the Ferncroft Golf Course, a Robert Trent Jones project. Chicago-based Inter Capital Partners LTD engaged Sheldon Good & Company in a workout with lender MB Financial. The developer's absorption rate had fallen to 1.5 units per month, and the developer wanted to reduce inventory and debt on the project.

45 units were advertised, subject to minimum bids. The anticipated absorption for the auction was 40 to 45 units.

• 954 inquiries
• 600+ property inspections
• 180 Bidder's Information Packets requested
• 400+ auction attendees
• 207 registered bidders
• 65 units (all of the remaining inventory) were sold at auction
• 74% of the sales closed within 10 days of the auction

Workout / Restructuring / Bankruptcy

Prudential Mortgage Capital, the special servicer, had retained a nationally recognized commercial brokerage firm to handle the sale of this 499-unit, garden-style apartment complex. However, the property received no offers after being on the market for over a year. With many years of deferred maintenance, an occupancy rate of only 23%, and increasing security concerns, the seller desired to expedite the sale of the property, avoiding additional carrying costs and further capital investments.

Using an aggressive "Absolute" auction strategy, Sheldon Good & Company customized a targeted marketing plan that generated local, national and international interest. Registered bidders at the auction came from Houston, Canada, and Malaysia (the ultimate purchaser of the property).

• 2,869 initial inquiries
• 252 requests for additional information
• 19 property inspections
• 20 Bidder’s Information Packets ordered
• 7 registered bidders
• The property sold at the auction for 98% of the conventional broker’s prior listing price and closed within 30 days of the auction

Condominium

Versante Champions is an exclusive gated community of 53 luxury townhomes, secluded on a tree-lined boulevard in the Willowbrook/FM 1960 area in the northwest portion of Houston, Texas. The property is conveniently located to many business, shopping and educational venues such as the Hewlett-Packard campus, Willowbrook Mall, Champions Golf Course, Methodist Hospital and many others.

The Verandah Companies sought to generate sales momentum in the face of a slowdown in the market. The developer needed to close out the unsold units and retire his loan. Sheldon Good & Company was retained to conduct an inventory reduction sale for the remaining units in the property.

30 units were advertised, subject to low starting bids. The developer wished to reduce debt and free up capital while maintaining a specific price point.

• 1,500 inquiries
• 956 property inspections
• 400 auction attendees
• 192 registered bidders
• 32 units were sold at auction

Condominium

London Park is a condominium development with units ranging in size from one to three bedrooms. The property is located just ten minutes from downtown Kansas City, Missouri. The seller, a regional developer, desired to close out the sales of the development.

Sheldon Good & Company offered a selection of the remaining condominiums subject to minimum bids. An extensive regional campaign was conducted, attracting inquiries from nine states.

• 296 inquiries
• 117 property inspections
• 47 Bidder’s Information Packets ordered
• 22 registered bidders
• 3 units sold pre-auction; 10 units sold at the auction

Condominium

The Aristocrat is a 17-unit condominium building located in Weehawken, New Jersey. The building was completed during a severe downturn in the real estate market, resulting in only one unit being sold. The developer feared a further decline in the market.

In a proactive approach, the developer retained Sheldon Good & Company to conduct a highly publicized “Absolute” auction of the remaining inventory. The strategy to offer a portion of the units for sale at any price greater than $1.00 generated tremendous interest from local media outlets, essentially freezing sales for all competing developments and focusing market attention on the auction.

• 1,300 inquiries
• 1,100 property inspections
• 240 Bidder’s Information Packets ordered
• 150 registered bidders
• 13 units sold at the auction; 3 units closed within 10 days of the auction

Commercial Property

ARC (American Residential Communities) is one of the largest operators of manufactured housing communities in the United States. The client’s goal was to geographically reposition its portfolio by selling non-core assets while maintaining price integrity. This income producing portfolio consisted of 71 communities spread across the United States.

To maximize returns, Sheldon Good & Company recommended a bidding strategy based on bidding the CAP rate. Further, the auction was held in a central location, allowing bidders from across the country to gather at one venue where properties from fifteen states were offered. Sheldon Good & Company empowered potential bidders by allowing them to purchase one or multiple parcels in a “buy one, buy some, buy all” auction.

Sheldon Good & Company was retained to provide an accelerated disposition program marketed over a 10-week period on a local, regional, national, and international platform. Thirty communities were offered absolute to garner excitement amongst potential bidders.

A total of three auctions were conducted over an 18-month period, resulting in the largest commercial real estate auction in U.S. real estate history.

• 2,081 inquiries
• 1,986 Bidder’s Information Packets ordered
• 519 property inspections
• 205 registered bidders
• 59 communities sold and closed

Condominium

The Trump Plaza of the Palm Beaches is a 236-unit, high-rise condominium project in Palm Beach, Florida. With 88 units remaining unsold, Donald Trump engaged Sheldon Good & Company to close out sales of the property.

72 of the units were advertised for sale. Live bidding was offered in three locations — Chicago, New York, and Palm Beach.

• 4,978 inquiries
• 2,000+ property inspections
• 1,080 auction attendees
• 518 registered bidders
• 88 units (all remaining inventory) were sold at auction

Workout / Restructuring / Bankruptcy

The seller, Town & Country Bank, had recently acquired through foreclosure a 328-room hotel located in Kansas City, Missouri, near Arrowhead and Kauffman Stadiums. The bank chose to divest the hotel on a date certain rather than attempt to operate the property. The property was operating under the GuestHouse Flag. Since the hotel has two distinct wings, there was upside potential with a dual franchise or alternative use opportunity. Recently renovated, the hotel has excellent visibility from I-435.

Sheldon Good & Company customized a local, regional and national sales program to canvas the market and reach bidders involved in previous hotel auctions. The program utilized a low starting price to garner excitement in an open outcry auction. The marketing theme focused interest on the hotel’s upside potential within its competitive set. The results of the intensive sales program included inquiries from thirty-two states, Canada and the United Kingdom. The four bidders came from New York, California and Missouri.

• 191 inquiries
• 19 Bidder’s Information Packets ordered
• 9 property inspections
• 4 registered bidders
• Property sold for over 230% of the last appraised value

Commercial Property

One Community Centre is a unique ten-story single tenant office building on 13 acres located 20 minutes from downtown St. Louis, Missouri. With multiple landscaped exterior terraces, bronze glass windows, granite floors, and views of the St. Louis Gateway Arch, the award-winning building is an architectural showpiece within the community. Previously the headquarters of the failed Community Federal Savings and Loan Association, the Resolution Trust Corporation had taken control of the property.

In a decisive move, the seller opted to bypass traditional workout arrangements and place the building up for sale at auction, saving approximately $1 million in annual carrying costs. Sheldon Good & Company was retained to create a deadline in the marketplace and to sell the property on an “as is, where is” basis with no contingencies.

To garner nationwide interest and competition among national corporate bidders, Sheldon Good & Company implemented an open outcry auction program with a low suggested opening bid.

• 200 inquires
• 25 property inspections
• 60 auction attendees
• 14 registered bidders
• Anheuser-Busch, Bell South, and Edward Jones were among the bidders at the auction. Once the bidding reached the undisclosed reserve, the seller announced the reserve had been lifted and the bidding escalated to 360% over the opening bid. Edward Jones was the prevailing bidder and purchased the property to use as its corporate headquarters.

Commercial Property

This historic landmark boasted a prestigious Michigan Avenue address overlooking Millennium Park. The mid-rise office building offered 73,000 square feet above grade and 6,100 square feet below grade. The space was ideal for a multitude of uses, including a corporate or foundation headquarters, a multi-tenant office building, or a boutique banking facility. At the time of offering, the building was vacant and partially gutted.

The seller needed to determine the current market value of the property. Furthermore, they had to determine whether it was financially in their interest to either accept the current fair market value or to take the entrepreneurial risk of future development of the property as condominiums.

Sheldon Good & Company implemented an accelerated sales program with a sealed bid deadline for the marketplace. The auction was structured to have a suggested low opening bid to elicit national interest. The seller also offered attractive, short-term financing.

• 297 inquiries
• 100 property inspection
• 41 Bidder’s Information Packets ordered
• 9 bidders
• Property sold at auction

Condominium

Dolphin Bay is a luxury hotel-condominium situated on the dramatic cliffs of San Luis Obispo, overlooking the Pacific Ocean. The developer desired a highly publicized grand-opening event to kick off the development’s initial sales program.

Sheldon Good & Company was retained to conduct a grand-opening auction. A small number of the units offered in the auction were advertised to be sold “Absolute, regardless of price”. This aggressive strategy generated significant interest. With the property billed as a high-end second home development, an extensive national advertising campaign was implemented.

• 900 inquiries
• 605 property inspections
• 83 Bidder’s Information Packets ordered
• 22 registered bidders
• 6 units sold at the auction, achieving the seller’s goal

Luxury Estate

Treasure Hill, a spectacular Victorian style estate, is just steps from the pristine beaches along the Atlantic Ocean. High on a bluff with stellar ocean views, the property has four floors that can be accessed from the beautifully crafted stair case or from the elevator. The property offers a cascading waterfall and stone staircase that leads to the magnificent swimming pool and climate-controlled cabana.

Despite these attributes, Treasure Hill languished on the market for more than three years with conventional brokerage and did not sell.

Sheldon Good & Company implemented a high-profile 10-week sales program directed at luxury buyers in local, regional, and national markets.

Sheldon Good & Company sold this estate at an open outcry auction with a “suggested opening bid” and with no disclosed reserve price.

• 102 inquiries regarding the property
• 21 parties inspected the property
• 7 individual bidders at the auction
• The auction format was an open outcry that attracted 7 active bidders
• The property was offered without “reserve” with a suggested opening bid of $3 million
• The property sold for $5.5 million with no contingencies

Commercial Property

A trust needed to liquidate 240+ acres of productive farmland plus a 6,500 square foot Frank Lloyd Wright-inspired home on a 40-acre equestrian estate situated in the midst of the farmland. The properties were located approximately 50 miles west of Chicago in Elburn, Illinois. The property was conventionally listed for sale for over one year with no offers received.

With two separate and distinct asset types, the offering strategy needed to attract a diverse universe of buyers, while simultaneously providing an opportunity for the buyer interested in purchasing the property in its entirety. The seller also needed to achieve specific pricing goals.

Sheldon Good & Company created a unique strategy offering the farmland in seven separate tracts, thus allowing buyers to create any preferred combination of tracts, with or without with the estate. This strategy generated interest from a diverse group of buyers while providing the seller the opportunity to evaluate the most profitable combination in order to maximize their value.

• 237 inquiries
• 88 property inspections
• 24 Bidder's Information Packets requested
• 80 auction attendees
• 19 registered bidders
• All properties sold and closed within 10 days of the auction

Luxury Estate

High-Tide is a spectacular beachfront estate on a private tropical island with just 67 homeowners. It is one of the largest estates on the island with 438 feet of pristine beachfront. The property is 30 minutes by air from Fort Lauderdale. The Country Club offers a marina that can accommodate 160 feet yachts, a golf course, tennis court and Olympic pool.

Although this is a unique property, it had not sold despite being on the market conventionally for two years.

Sheldon Good & Company developed a multi-level national and international marketing program. The transaction utilized a high end, open outcry auction in Fort Lauderdale with a minimum bid of $2.9 million.

• 303 inquiries
• 7 property inspections
• 6 bidders at open outcry auction
• The property had a minimum bid of $2.9 million
• The property closed “as-is” with no contingencies for $4.664 million