search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aGVA sells Georgetown apartments for $25M in “forced sale” GVA sells Georgetown apartments for $25M in “forced sale” Marty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
South Florida

Wellington horse stable estate’s owner nixes $3M offer

6560 Wild Orchid Trail in Wellington
6560 Wild Orchid Trail in Wellington

The owner of a 15-acre equestrian estate in Wellington rejected a would-be buyer’s $3.4 million offer.

Electrical contractor Mike Miebach opted to hold off until the FTI Winter Equestrian Festival ends next month to potentially secure a buyer. Wild Orchid Stables features a five-bedroom home, pool, barn, pond and lake. The property is heading to auction March 1.

Sign Up for the undefined Newsletter

Miebach bought the parcel at 6560 Wild Orchid Trail in Palm Beach County’s gated Homeland community for $115,000 in 1998 and renovated it heavily.

“It was as simple as thinking there was the potential for something better when the WEF came to town,” Trayor Lesnock of Platinum Luxury Auctions LLC in Miami told Daily Business Review. “We had three or four interested and qualified lookers who didn’t want to bid by proxy but said they would be in town for WEF.”

Wellington resident Bill Gates’ daughter Jennifer is among the participants in the annual Winter Equestrian Festival, as previously reported. [Daily Business Review] — Mark Maurer

Tags
Auctions