Caribbean Home: Cap Cana Homes in the Dominican Republic Set for Auction

By: - August 28th, 2012

Above: the Founder’s Golf Villa in Cap Cana

By the Caribbean Journal staff

A group of luxury properties in the Dominican Republic’s Cap Cana development will be sold at auction Sep. 22.

The properties are located on the Punta Espada Golf Course in Cap Cana, which is in the Dominican Republic’s Punta Cana region.

They are highlighted by the Founder’s Golf Villa estate that had previously been listed for sale at $14.8 million. The 11,200-square-foot residence will be sold to the highest bidder at auction above $2.5 million, according to Miami-based Platinum Luxury Auctions, which is conducting the sale in cooperation with Dominican brokerage Great Dominican Estates.

The exterior of the Founder's Golf Villa

“I have not seen golf and ocean views like this before,” said Trayor Lesnock, president of Platinum.

The view of Punta Espada from the Golf Villa

The remaining properties include the Villa Las Palmas, which was once valued at $2 million; Fundador, a golf-front lot overlooking the first hole of the Punta Espada golf course; and the Majagua, a golf lot once valued over $1.5 million.

In 2011, buyers purchased more than $42 million in luxury property in Punta Cana.

The Majagua golf lot

“[Cap Cana] is a special development,” said Cesar Herrera, owner of Great Dominican Estates. “These auction prices are the best deals we have ever seen here.”

The sale is being conducted on behalf of an institutional lender.

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