Two luxurious townhouses with private pools in Palm Beach, Florida, are scheduled to hit the auction block with no minimum bid later this month.
Sealed bids need to be delivered to New York-based B6 Real Estate Advisors by 3 p.m. EST Nov. 13.
“It’s a phenomenal location within walking distance to Palm Beach,” said Jeffery Hubbard, executive managing director of B6 Real Estate Advisors.
“The owner already purchased another home in the same area and he’s looking for an efficient sale process,” Mr. Hubbard said. The properties are still on the market and are being handled by listing agent James Cleary.
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Sitting side-by-side on Brazilian Avenue, both homes belong to Charles A. Smithgall III, the former chairman and CEO of SEI Aaron’s Inc., who made his fortune running one of the largest franchises for rent-to-own retailer Aaron’s Inc. He is currently the chairman and CEO of the Smithgall Family Office in Atlanta.
The two houses are located just steps away from an exclusive golf club and scenic beaches facing the Atlantic Ocean.
According to public records, Mr. Smithgall, now 77, purchased one of the townhouses for $4.3 million in November 2016. Then he decided to snap up the home next door in April 2018 for $4.6 million to accommodate his children and grandchildren, according to the Palm Beach Daily News.
He could not be immediately reached for comment.
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The first home, which measures 2,788 square feet, has an elevator, three bedrooms and four-and-a-half bathrooms, according to public records. It was renovated by design firm Hive Interiors and was last listed at $5.6 million.
The property next door has 3,368 square feet and features three bedrooms and four bathrooms. It was last listed at $5.1 million.
Both homes come with private pools and two-car garages, with landscape redesigned by architect Marco Nievera.
The auction team includes Mr. Hubbard and his colleagues James Cote, Katherine DeCoste and Christian Koulichkov.
The listing was first reported by the Palm Beach Daily News.
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Two Side-By-Side Palm Beach, Florida, Townhouses Heading to Auction This Month - Mansion Global
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