Luxury real estate hits new highs

Annual magazine lists the priciest U.S. homes
Inman News
Donald Trump's $125 million Palm Beach, Fla., mansion is the most expensive U.S. home on the market, according to the second annual issue of Ultimate Homes Magazine.

Trump's mansion in Florida, which sits on six acres of land and features 15 bedrooms and 14 bathrooms, broke last year's record of $75 million. for the most expensive home on the annual list. Trump's Palm Beach estate also features a 4,100-square-foot conservatory, media room, library, three pools and three guest houses.

New York has 333 of the most expensive for-sale homes in the country, according to the magazine, while Califoirnia has 183 homes on the list and Florida has 174.

The top 12 include:

Number 1 – Maison de l'Amitié (Palm Beach, Fla.), $125 million.

Number 2 – Three Ponds Farm Estate (Bridgehampton, N.Y.), $75 million. Features: U.S.G.A.-rated golf course, 14 gardens, waterfront views and more than 20,000 square feet of living space.

Number 3 – The Penthouse at the Pierre (New York, N.Y.), $70 million (the highest-ever asking price for a Manhattan apartment).

Number 4 – Belvedere, Calif., $68 million. Features: 1.1 acres; views of the Golden Gate Bridge, San Francisco and the San Francisco Bay.

Number 5 – Beverly Hills, Calif., $65 million.

Number 6 – Malibu, Calif., $65 million. Features: 7 acres, gated community, private bluff, panoramic ocean views, a riding ring, and a private road to the beach.

Number 7 – Robert Taylor Ranch (Brentwood, Calif.), $60 million.

Number 8 – Sierra Star (Lake Tahoe/Incline Village, Nev.), $60 million.

Number 9 – Trump World Tower Penthouse – (New York, N.Y.), $58 million.

Number 10 – Upper East Side (New York, N.Y.), $55 million.

Number 11 – Medina, Wash., $53 million. Features: 5.42 acres, a 114-foot dock and 372 feet of waterfront access.

Number 12 – Bel Air, Calif., $53 million.

Other Ultimate Homes details:

    • There are now one million homes valued at over $1 million dollars in the U.S.

    • There are about 700 luxury real estate agents associated with the 1,000
      properties.

    • Connecticut, which has 38 properties on the Ultimate Homes list, is the
      smallest state geographically with the most homes on the list.

    • New York City has more homes on the list than any other city.

"We not only wanted to make the second annual issue bigger and better than last year's, but also to reflect the recent growth at the highest end of the luxury real estate market. So this issue boasts more homes and bigger price tags," said Rick Goodwin, publisher of Ultimate Homes and its luxury real estate sister publication, Unique Homes.

"The nine figure price-tag for the Trump property is indicative of a new scale of consumption – one where billionaires are concerned with differentiating themselves from mere millionaires," he added.

A Unique Homes survey of luxury residential brokers found that about 76 percent of the $1 million-plus buyers are entrepreneurs. About 54 percent pay in all-cash, 74 percent collect art, 63 percent collect cars or antiques, and 54 percent collect wine.

Among the other findings in this survey:

    • Spanish/Mediterranean ranked as the most desired style of luxury home today.

    • Desirable location (87 percent) is the trait most likely to differentiate an
      $8 million-plus home from one that is only a few million.

    • Luxury brokers report that when working with married couples, the wife has
      more say in the decisions to purchase.

    • Jacuzzis/hot tubs, marble and granite, and media rooms have reportedly fallen
      out of favor with buyers of high-end luxury homes.

    • About 53 percent of upper-tier brokers said a home priced at $8 million or
      above takes up to 19 months on average to sell.

    • The majority of New York City brokers surveyed said the starting level for
      luxury in Manhattan is $2 million; the majority of Dallas brokers said it's $1
      million, and San Diego brokers cited $3 million as the starting level for
      luxury.

In addition to the list of the most-expensive properties for sale, Ultimate Homes identifies the country's top luxury agents, and also gives insight into news, trends and hot spots in the luxury real estate market.