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Grosse Ile Mansion Sells at Auction for $4,345,000.

GROSSE ILE, Mich. -- Bellerive, a waterfront mansion on the Detroit River, sold for $4,345,000 in a widely anticipated auction managed by J.P. King Auction Company.

"We got the job done, despite the well publicized slump in the Detroit real estate market," said Craig King, president of J.P. King. "We've had a lot of interest all along, so we felt that we got what the property was worth on this particular day," he said.

Built to be a showplace even by the standards of the island that has long been the retreat of Detroit's auto industry moguls, the home has played host to social events with up to 250 guests and become one of the most prominent landmarks on the shore where Lake Erie meets the Detroit River.

The estate includes such unique touches as a full-service English pub with a waterfall just outside the picture window, a tennis center with its own house and shower facilities, steam showers, a sauna, and a dock big enough for a 57-foot yacht.

J.P. King is the nation's leading auction marketing firm specializing in mansions, condominiums, ranches, developments and other high-value real estate. Upcoming sales include mansions in Florida and Massachusetts, an alfalfa farm in Colorado, and a portfolio of homes, condominiums and commercial properties in Texas and New Mexico. Individuals interested in additional information on those and other sales may contact the auction company at 800.558.5464 or visit the firm's web site at www.jpking.com.
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Publication:Business Wire
Date:Aug 18, 2006
Words:250
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