Diliberto Real Estate Services, LLC has been retained by the Germany – based Neudenberger to auction off Manatee Peninsula, a magnificent 355-acre beach oasis perfectly situated to continue expansion of the Dominican Republic’s first rate resort attractions.
Zoned for residential living, multi-story hotel, resort style activities, marinas, time share fractional investment, and world class sailing, which includes an estimated 26,000 boaters passing by the peninsula each year. Originally appraised at over $22 million, the disclosed reserve is set at $13 million, however, bidders are encouraged at all levels (including under the reserve) as the seller is very motivated to sell.
“This historic peninsula was first discovered by Christopher Columbus on his second trip to the New World in 1493, leading to the development of ‘La Isabella’, which is known as the first European settlement in the New World and is now a National Park next to the property”, says Alex Garcia, a director and manager at Diliberto Real Estate of Florida. [member]
Keeping up with the European tradition, the property has been owned by a German family for over 30 years. The owners are now prepared to release the property for a fraction of appraised value. Recently, President of the Dominican Republic Danilo Medina approved a development- friendly government platform to transform conceptual development to shovel ready projects, reducing the amount of red tape required for these endeavors.
“This would streamline procedures, facilitate investment, and thus job creation in the country”, Public Works Minister Gonzalo Castillo told the Dominican Today. In addition, the President secured a relationship with Royal Caribbean Explorer of the Seas cruise ship in order to bring the government one step closer to carrying out its pledge of increasing the Dominican Republic’s tourism by 10 million people a year. “It’s difficult to place a value on a one-of-a-kind property like this one,” said Thomas Neudenberger.
“We are using the auction to allow bidders to provide the evidence of value that will be our appraisal for a fast sale. We chose a team that had experience with other global properties and development auctions. Prospective bidders will need to review the bid package and assess the property. However, our development division collected development pro formas, conceptual use aerials, and secured local guidance from an experienced architect and building contractor in the Dominican Republic to aid the bidders in making a confident buying decision”, said Anthony Olivieri, Project Manager for Diliberto Real Estate Development Division. A cashier’s check for $150,000 US is required to demonstrate the ability of the bidder.
According to Frank Diliberto, President of Diliberto Real Estate Services, “the use of auctions to sell trophy properties are once again trending up, as sellers believe there are some buyers getting back into the market. Our clients want those buyers first, before they buy elsewhere.” Auctions continue to cater to properties that attract global markets. Once used as a way to liquidate assets, today’s auction provides a win-win opportunity for both the buyer and seller.
The seller can sell for a bargain because the sale is fast and the buyer can purchase a world-class property for a fraction of its appraised value.
Manatee Peninsula consists of 355 spectacularly gorgeous acres located in the northwestern region of the Dominican Republic. Offering nearly 5 miles of pristine beachfront glory at less than $1 per square foot, this Caribbean gem is teeming with investment potential.
The Dominican Republic has become the Caribbean’s largest tourist destination thanks to its diverse topography and exotic culture, and the country’s recreational opportunities are endless. A foreign investment law enacted in December 1995 allows foreign investment in nearly all sectors of the economy, which consequently has been strengthened by the 1997 establishment of the Office for Investment Promotion (OPI). Manatee Peninsula has been zoned for tourism and can be divided and sold as individual lots.
For further information about the auction and to receive a Bidder’s Information Package explaining the property’s details, available helicopter tours, and approved purchase and sales agreement, please call Diliberto Real Estate Services at 1-855-460 BIDS (2437) or purchase online at: dilibertorealestate.com/featured-properties. [/member]