A triplex penthouse in São Paulo's Cidade Jardim, connected to a shopping center, will be the first Brazilian property to be auctioned by Sotheby's in the United States. The property, valued at $13 million, will be offered to global magnates at an auction in Coral Gables, Florida, with starting bids at $4 million.
The auction marks a significant milestone for the Brazilian real estate market, opening doors for the "export" of more Brazilian properties. Sotheby's has recognized a growing demand for diverse destinations and properties from international buyers. This trend is driven by an increasing interest in new markets, alongside the traditional luxury destinations like New York, London, and Paris.
The auction will feature a curated selection of luxury properties, offering buyers access to unique and exclusive properties that may not be available through traditional real estate channels. The properties are thoroughly vetted for any outstanding debts or legal issues, ensuring a secure and transparent transaction for buyers.
This type of auction provides sellers with an avenue to reach a targeted audience of pre-qualified high-net-worth individuals, potentially achieving higher sale prices. For buyers, it offers the opportunity to acquire prestigious properties at potentially advantageous prices.