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New Record Set for Most Expensive Residential Property Sold in the US

The previous record  was set in Palm Beach in 2004 when Ronald Perelman sold his home for $70,000,000 - this week news surfaced that Ron Baron purchased 40 acres in The Hamptons NY for $103,000,000. 4 historic homes were on this property which have been moved and will be the "new" town hall. Who knows how long this will continue to be the record - there are currently homes on the market for $125,000,000 and $135,000,000. This new record is a waterfront property in East Hampton, where Baron plans to build a new home.

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area. 

8 comments • Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS • May 25 2007 06:46PM

Comments

The commission on that would be nice.... huh! It's always been said that you never want to own the most expensive house in the neighborhood.... I guess that to some money is not an object. Must be nice!!
Posted by Diane Testa almost 5 years ago
But does that really count since it was actually the cost of 4 homes?  And if they count it as just one, but he still has to build a house, wouldn't that be considered the most expensive piece of land for a residential property?  I don't think this should go in the record books just yet...
Posted by Donna Harris, REALTOR®, CDPE & ASP - Hill Country Austin Lakeway Homes (RE/MAX Austin Skyline) almost 5 years ago

I think I agree with Donna about this not taking over the record.  Four homes on one parcel doesn't compare to just one.  This may be a new category for highest sale price in general, but not for one home.

I'm glad to hear the historic homes were moved and will be put to good use rather than being discarded.

Posted by Linda Sanderson (Coldwell Banker Solano Pacific) almost 5 years ago
Sharon: Four homes for one town hall? Must be several political factions;-)
Posted by Roberta Murphy -- Carlsbad Real Estate and Homes (San Diego Previews * Previews Luxury Real Estate) almost 5 years ago

Diane - yes, it would. Unfortunately there was no broker involved in this transaction.

Donna and Linda - Yes, Donna's right, it would be considered, I guess, the most expensive piece of land for a residential property, and wouldn't count as the most expensive "home" until the new one is build and then sometime sold along with the land.  As for more than one house on the parcel - what about when there's a main house and a carriage house or detached garage with apartment? As for the land, we have occasions here in St Pete where someone buys two or three separate homes, combines the land, builds one house straddling them, and then when it's resold it's "a house".  

To be correct, I guess we should say, record set for Residential Property. I'll change the title from "Home" to "Residential Property". That should cover the situation.

Thanks for your comments. 

Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) almost 5 years ago
Well, now that we've set the record straight, LOL I just want to add that the $$$ amounts of the record setting properties are unbelievable.  It's hard to fathom those amounts of money.  Thanks for sharing the numbers Sharon.  Keep us posted on any updates.  Can't wait to hear what the value will be on the improved property.
Posted by Linda Sanderson (Coldwell Banker Solano Pacific) almost 5 years ago
And it sold FSBO according to Inman blog.   Sheesh.
Posted by Maureen Francis & Dmitry Koublitsky, SKBK Sotheby's - Metro Detroit (SKBK Sotheby's International Realty) almost 5 years ago

Linda - you're welcome. It will probably be years before we have a new home built and resold. By then there will be other records.

Maureen - USA Today just said that no broker was involved, so I assumed it was a private sale. Inman may know more, and that they were actually selling it as a FSBO.  

 

Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) almost 5 years ago

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