MONTEREY, CA- Those who follow @GlobeStcom on Twitter may have seen a post teasing the announcement yesterday, but GlobeSt.com has exclusively learned that Racebrook Marketing Concepts, and its auction affiliate Sheldon Good & Co., will sell an ocean view, development-ready home site in Pebble Beach, CA that sits directly fronts the Pebble Beach Golf Links. The home site is one of only 34 properties that directly front the Pebble Beach Golf Links, according to Racebrook Marketing Concepts.
Previously priced at $12 million, the minimum bid for the site will now be at $7.95 million. The company would not reveal the number the property is actually expected to fetch.
This is the second time in 93 years that this property has come to the market for sale. Properties on the golf course rarely change hands, which the company notes as one of the draws to the opportunity.
The property was formerly owned by a Yale classmate and fraternity brother of Samuel F. B. Morse, the original developer of Pebble Beach. The home site is located three houses south of where Bing Crosby lived. Situated along the par three, 12th hole, the 1.1-acre parcel features 185 feet of golf course frontage, and stunning views that overlook the lush landscape of the 11th and 12th greens.
“Homeownership along the Pebble Beach Golf Links is highly valued and the opportunity to build a custom home in the area is virtually unheard of. Since the land is being sold at a significantly reduced price, a buyer can attain this singular opportunity through a smart investment and in the process gain entryway into one of the most exclusive communities in the world,” explains John Cuticelli, CEO of Sheldon Good & Co.
Pebble Beach is located on the Monterey Peninsula, is minutes away from Monterey Airport, and a 1.5-hour drive from the San Francisco bay area. The company was unable to respond to queries for further information as to why it is selling the site by deadline.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
