Douglas Elliman Associate Real Estate Broker Robert Kuhar and Misha Haghani, Esq., the Founder & CEO of Paramount Realty USA Auctions, may not have known each other very long, but they soon realized they had much in common.
“I’ve only gotten to know Rob over the last few months and I’m enjoying our collaboration here,” said Haghani during our telephone interview. “Rob has a real affinity towards auction. He’s a fan of what we do.”
Kuhar concurred.
“I bought an apartment at auction. I bought cars at auctions. I even bought a hot tub at auction. I’m an auction enthusiast!” he said with a laugh. “So, I see this as an opportunity that has presented itself and it meshes with the seller’s objectives. We’re on all cylinders, to get this first project done on Fire Island, I’m really excited about the whole process.”
What Kuhar and Haghani are talking about is a property auction in the Incorporated Village of Saltaire that many consider the first of its kind on Fire Island.
“I think this is the first time that this type of auction has been done on Fire Island – a luxury auction,” said Kuhar. “We have seen certain foreclosure auctions, and tax foreclosure and state sale auctions. I’m in Ocean Bay Park and the house two away from me was sold because the person died intestate, which means that the county had to sell the property off. This is the first time that, from what I can see, a luxury auction has taken place on Fire Island.”
So, what do Kuhar and Haghani mean when they speak of a luxury auction?
“We do for luxury homes what the great auction houses do for art and jewelry and antiques,” explained Haghani. “Our firm is a prominent national luxury auction firm. We market property to the widest audience possible and set a deadline to create urgency on behalf of buyers in the marketplace in order to market and sell the property at market value on a timely basis.”
Kuhar then spoke of a reality seasoned Fire Islanders know all too well.
“Fire Island houses either sell quickly or they take a very long time to sell just because of the nature of the seasonality.”
208 Atlantic Walk is a newly renovated home, appraised at $1.8 million. The reserve price for the auction is set at $1.2 million. The interior includes four bedrooms, two bathrooms, a state-of-the-art stainless-steel kitchen, and a 650-square-foot outdoor deck. Perhaps however, the one feature that sets this property apart from others at this price point is its sky room with a one-of-a-kind indoor telescope observation area.
“You can remove part of the roof to set up a telescope underneath and do any kind of astronomy that you want from inside the house itself,” Kuhar said with enthusiasm. “It was originally conceived by someone who had an interest for astronomy and that feature was kept throughout the new renovation.”
The property also sits on seven building lots that total approximately 12,000 square feet.
“It’s one of the larger lots in Saltaire, so there are things that you can do, or just leave it as it is,” said Kuhar. “And of course, it’s Saltaire! It’s a tight market and a small community. Properties there don’t become available often. It’s a boardwalk community, it has two churches, and they have preserved much of their wetlands.”
The Saltaire community offers its own recreational facilities, playground, parks, marina, and a private yacht club where the opportunity for membership is available. 208 Atlantic Walk is also just 1.5 blocks away from the Saltaire ferry terminal, as well as a short walk from both bay and ocean access. Also, the local grocery store, Saltaire Market, is second to none.
This sealed bid auction deadline is Thursday, June 6, 2024, at 4 p.m. Eastern time.
“The reserve price is one-third below appraised value for the newly renovated home,” said Haghani. “This is a unique opportunity.”
Two property tour dates have already passed since the publication of this article, but the third and final tour is coming up on Saturday, May 25, from noon to 2 p.m. Further details about 208 Atlantic Walk as well as instructions on how to submit a bid can be found by visiting fireislandauction.com.
