$13M ‘Great Gatsby’ mansion up for auction
VERO BEACH, Fla. — After nine years of trying, will a 62% price cut finally sell Palazzo di Mare this weekend?
Owner Sharon Nicholson said she won't accept less than $12.9 million on Saturday for the six-bedroom, 10-bathroom home, which means "Palace by the Sea" in Italian. The 5-acre oceanfront property with an opulent 24,000-square-foot mansion was listed for $33.5 million in a failed 2007 auction.
The architecture was inspired by F. Scott Fitzgerald's acclaimed novel The Great Gatsby.
Nicholson is the widow of Bill Nicholson, whose father founded Retail Grocery Inventory Service in 1958, a company that helps grocery stores track inventory.
Built in 2001, the mansion with 205 feet of private beach, was put up for auction in 2007, but the sale was canceled for unknown reasons shortly before bids were accepted.
Since the failed auction, the sprawling home has been on and off the market. In 2008, Nicholson listed the mansion for $24.9 million, then lowered the price to $22.5 million, then to $19.9 million and now to $13 million.
An additional one-bedroom, one-bathroom guesthouse is also on the property, complete with a full kitchen and ocean access.The property features 32-foot-high ceilings, a gourmet kitchen, a soundproofed theater, a custom wood-beamed library, a polished limestone fireplace, game room, private solarium and sky deck, two elevators and a 14-car garage.
At the back of the estate, palm trees and a stone deck with lounge chairs, a stage and a cabana with a kitchen surround an elaborate Venetian-inspired Italian pool with glass tiles, 14-karat gold leaf inlays, three fountains, a swim-up bar with seating for five and an attached spa. The grassy back lawn also serves as a helipad.
Included in the sale is a 2.5-acre west parcel that fronts the Indian River Lagoon. That property is composed of two buildable lots and features a private dock with a 10,000-pound automatic boat lift, which provides homeowners with direct access to the Fort Pierce or Sebastian inlets.
Nicholson bought the property in 1994 for $650,000, public records show. The 2015 property taxes were $174,034.
The new owner will remain a mystery until the sale closes, if there is one. DeCaro Luxury Auctions will not reveal the auction results before then, said E.J. McLean, director of business strategy.
PRIVATE AUCTION
What: Palazzo di Mare (Palace by the Sea)
When: 11 a.m. Saturday
Where: 2150 S. State Road A1A, Vero Beach
Preview: 1 to 4 p.m. Friday. Private tours are available.
Admission: Pre-registration is required.
Bidding: Bids will be taken on site or by telephone. Starting at 9:30 a.m. Saturday, present a $100,000 certified check. The winner must pay a 10 percent deposit by noon Monday and close within 30 days, plus a 10 percent "buyer's premium."
Contact: DeCaro Luxury Auctions at 800-332-3767