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Luxe Riverfront Home in Coastal Maine Up for Bids at June 7 Luxury Auction®

By Victoria Udrea | June 5, 2024

Prospective homebuyers seeking an idyllic New England escape that captures the natural splendour of the northeastern U.S. should pay attention to the upcoming luxury auction of a 10.5-acre riverfront estate in Penobscot, Maine. Initially listed at $2.9 million, this exquisite property will be auctioned without reserve, meaning it will go to the highest bidder regardless of price.

The auction, set for June 7, will be overseen by Platinum Luxury Auctions. The owners have enlisted this seasoned luxury real estate auction firm to manage the sale alongside Better Homes and Gardens Real Estate, with agent Steven D. Shelton from The Masiello Group representing the listing.

Penobscot residence drone view
The property’s three living structures include a 2-story main residence (center), an oversized studio (right) and a charming guest cottage (upper middle; partially visible). The +10.5-acre parcel sits on the Bagaduce River in the town of Penobscot, just 45 minutes south of Maine’s Bangor Airport.

Situated in the exclusive enclave of Johnson's Point, this property offers a serene collection of homes nestled along or near the Bagaduce River. Just a convenient 45-minute drive from Bangor and its international airport, the area provides a tranquil escape from the urban hustle.

The Bagaduce connects to Penobscot Bay and the Atlantic Ocean for avid fishermen, granting direct boating access from the property's private dock. Boats up to 40 feet can be accommodated, although dry docking and storage are necessary during winter months.

Luxury Auction
This waterfront property in coastal Maine will sell to the highest bidder at a luxury auction® without reserve on June 7. Platinum Luxury Auctions is handling the sale for the property owner. Details at

The estate boasts over 600 feet of linear river frontage, offering uninterrupted views along the river's expanse rather than across at neighboring properties. The ample acreage invites further development, free from homeowners' association restrictions.

The property features three distinct living structures: a two-story main house, a versatile studio, and a charming guest cottage. Combined, they offer nearly 7,500 square feet of living space, including five bedrooms, four full baths, and three half baths. Durable construction elements like aluminum roofing (installed in 2017) and composite decking ensure resilience against winter weather.

Penobscot residence living room
The main residence’s living room is bright and spacious and features lofted ceilings, exposed wooden beams and smooth riverstone finishes. A catwalk with custom railings (shown at the top) runs between the upper level’s primary suite and a guest bedroom.
Penobscot residence living room
A lovely kitchen sits at the center of the main residence and enjoys views of the river thanks to a wall of windows on the waterside of the home (partially shown). It is adjacent to an informal dining area and dry bar (left-of-center), family room with stone fireplace, formal dining, butler’s pantry and office.

Designed to highlight the river and natural surroundings, the buildings incorporate vast windows in all water-facing rooms. Rustic touches such as exposed wood beams and riverstone columns integrate the outdoors with interior spaces, while modern amenities ensure comfort.

The studio's 2,500-square-foot interior is a flexible creative space, ideal for an office, fitness or yoga center, theater, "man cave," art gallery, library, or events like wine tastings and cooking classes. There are no restrictions on running a business from the site.

Penobscot property studio
The property’s multipurpose studio offers 2,500 sf of living area. It includes a large, central space (shown here), two office/flex rooms, a bathroom and a large cellar for suitable wine, gardening or general storage.

The property is available for previews through the close of June 6. Interested parties may contact Platinum's project manager, Renee Alossi, at 800.674.2997. Bidders must formally register in advance of the auction to participate. Additional property and auction information is available online at

Victoria Udrea, a talented author who specializes in real estate and technology, is a valued contributor to Realty Biz News. With her keen eye for detail and passion for keeping readers informed, she diligently covers the latest developments in the industry, focusing particularly on the exciting realms of AI and smart home technology.
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