Build a custom mansion if you have the means, but you may end up auctioning it off because you can't find a buyer.
That's what's happening to two high-end Bay State properties, one in Andover and another in Osterville on Cape Cod.
"Some homes that are custom-crafted by their owners don't fit into the mold of the area they're in," said Trayor Lesnock, founder and president of Platinum Luxury Auctions, which is auctioning a 10,000-square-foot Osterville mansion owned by retired EMC executive Edward Breslow that had long been on the market for $13.9 million.
Lesnock said the architect-designed waterfront home, which has almost $3 million in interior finishes and technology, sits on a relatively small 1.32 acre site, amid grand houses with larger lots.
"While the lot is small, the architecture of the home, with its circles and curving lines, is very impressive," Lesnock said. "It's very sunny and has great harbor views from many rooms. There's an outdoor swimming pool and a dock out to the ocean."
The interior has custom millwork, stained-glass window panels and large living spaces built for entertainment, including three full wet bars. The technology includes more than a dozen mounted Apple devices, smart-home technology that controls lighting, temperature and music and a secure private network powerful enough to host a company.
A custom home in Andover that's also going to auction is double the size, with 20,000 square feet of living space. When the Herald profiled the Haggetts Pond Road mansion in March 2013, the 2003-built nine-bedroom home on 4 acres was on the market for $5.5 million. Almost 9,000 square feet is taken up by a regulation-size basketball court with water slides down to an indoor swimming pool. There's a bowling alley, locker room and a large family game room.
"It has fairly traditional high-end living spaces outside of having the gym attached," said Jeff Hubbard, president of Madison Hawk Partners, which is auctioning the Andover home, with sealed bids due by Nov. 4. "It could be a sportsman's home or even a corporate retreat."
Lesnock expects three to six live bidders at tomorrow's auction for the Osterville home, and perhaps a few by phone.
"Although I've never been involved in a real estate auction before, it seemed to me the best way to get the most exposure for the property in the shortest amount of time," said Breslow, who added he and his wife are looking to downsize and spend more time traveling and in their Florida home.
Hubbard says auctioning a super high-end custom home like the Andover property is akin to selling fine art — it involves identifying those with the means and ability to close quickly.
"The auction route offers sellers the certainty of a sale so they can move on with their lives," he said.
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