The World’s Most Expensive Homes on the Marketplace Now

Even in the pre-crash era, when real estate costs were surging, nine-figure bargains for properties seemed outlandish. Then beginning in 2015, with ultra-luxury marketings on the deterioration( watch: international market volatility and more scrutiny of cash buys) and homes in the 7 and eight figures languishing on the market for twice as long as the year before, as well as undergoing price cuts, their existence seemed futile.

Yet, today there are 23 homes on the market priced over $100 million.

It used to be that nothing was in this $100 million price range, and now we have more than a dozen properties across the country, says Suzanne Perkins, a Santa Barbara County, California-based real estate agent who is handling several properties above the $100 million mark.

Just before new year 2015, a condo at New Yorks One5 7 sold for a reported $100.5 million. Later, a single-family home in Hong Kongs The Peak neighborhood sold for HK $1.5 billion ($ 194 million ), allegedly to Alibabas Jack Ma. This year another home in that same neighborhood sold for HK $830 million. And lets not forget the Playboy Mansion, which had a $200 million price tag and has now been sold, according to numerous reports.

There are at least nine more propertiesincluding massive undeveloped residential lots and private islandsasking $100 million or more on the market than last years 19, according to Christies, which scoured public listings and media reports, and probed insider contacts to develop an internal list, which it shared with Bloomberg.

But dont call it a glut. Call it the price of doing $100 million dollar business.

The $ 125 million Rancho San Carlos in Montecito, CA .
Source: Sotheby’ International Realty

Waiting Game

According to Dan Conn, CEO of Christies International Real Estate, homes in this price scope tend to stay on the market for three to five years. Over the last handful of years, including 2015, he says, the peak number sold was five; three have sold this year. This feels like a reasonably healthy year, he says.

The long life of such listings comes in part from the size of the buyer( and marketer) pond, or rather, absence of size.

Its a really restriction universe of buyers and sellers and properties, says Conn. Of the worlds richest 200 people, many already have several spectacular, high-priced homes. Not every year will a top hedge fund manager buy a $100 million home. They can stay on the market for a really long time because you dont have a dealer that has to sell, and you dont have a buyer that has to buy.

Interior of the $115 million Park Bel Air .
Source: The Park Bel Air

Buyers are more likely looking for a place to park their cash than make an investment that they hope will balloon in worth, so theyll wait until the right home presents itself. In other words, the ultra-rich may not actually want a sprawling beachfront mansion in Florida for $195 million or a $300 million chateau outside Paris. And since vendors arent usually in a big hurryfire sales are uncommon in this world, since vendors usually spread their assets aroundthey arent always willing to accommodate negotiations.

If they get their number theyre happy to go, says Aaron Kirman, chairperson of Aaroe Estates, whose clienteles includes many Middle Eastern royal households. If they dont, they love their home, theyre happy to stay.

Centurion Club

It needs to be irreplaceable and very hard to find, says Kirman of what lets homes command such high prices. It starts with site: the position, the grounds, personal privacy, and usually its a combo of all of the above. At that price phase, it better have everything. Architectural or historical significance also drive up the price.

This years offerings include a seven-bed, 10 -bath duplex on Fifth Avenue in New York; the magnificent Bubble Palace once belonging to Pierre Cardin, on the Cote dAzur in France; and , not to be forgotten, Michael Jacksons former Neverland Ranch. Of the 26 on our list, nine were in or near Los Angeles, four were in the New York area, and three were in France. The rest ranged from Panama to Barbados to Switzerland.

Kirman says he has two listings about to sell near the $100 million mark, and Perkins says a ranch in Montecito is under contract for $125 million, and shes expecting a backup offer.

And these are only the ones we know about. Many vendors of $100 million-plus properties involve discretion, and dont want the world to know theyre unloading an asset.

Inside the $455 million “Bubble Palace” on the Cte d’Azur in France.
Source: BF Images

Whisper Listings

Were well informed other properties that never make the market publically, says Conn of what are known as pocket listings or whisper listings. Some people are shy about letting people know that theyre selling an asset. You have a lot of people at this end of the market that dont love having advertising around what theyre doing. Conn doesnt know for sure, but he estimates there are a dozen around the world now.

Some of these dealers are so publicity-shy that they wouldnt allow us to reprint the photographs of their homes, despite the listings being available on the web.( But here you gotheres this luxury tower in Monaco, allegedly for $300 million; a castle in Geneva on the market for $106 million; and the Palais Vnetian in Cannes, which Christies has priced at $105 million .)

Others have proven impossible to corroborate. Like the $500 million property in L.A. that topped Christie’s list, which we reported on in May 2015, but the actual listing is nowhere to be found. Of the 23 discovered by Christies, we corroborated 21, but only the below 14 would let us use images.

The offerings are robust, but opportunities are slim that therell be bidding wars. That Hong Kong home that sold this year for $107 million was apparently 25 percent less than analysts predicted. And word has it that the Playboy mansion sold nearly 50 percent of the original ask.

Although, as Conn says, Fifty percent off $200 million is still $100 million.

Le Palais Bulles( “Bubble Palace”)

Le Palais Bulles .
Source: BF Images

Price : $455 million
Location : Theoule Sur Mer, Provence-Alpes-Cote D’Azur, France
The Deets : 10 bedroom suites( decorated by contemporary artists ), 12,916 square feet.
Why Is It So Expensive ? Designed by the architect Antti LOVAG, Pierre Cardins former lair has a 500 -seat auditorium and a sofa with panoramic views of the bay of Cannesand an out-of-this-world style. Think high design versions of Luke Skywalkers home on Tatooine or a Bond villains lair.

Gemini

Vimeo: Gemini | A Luxury Home For Sale in Manalapan, Florida | Christies International Real Estate

Price : $195 million
Location : Manalapan, Florida
The Deets : 33 bedrooms, 34 full and 13 half bathrooms, 84,988 square feet of living space
Why Is It So Expensive ? Land. To be specific, 15.65 acres if it, in a walled compound, and 1,200 feet of beachfront on this barrier island near Palm Beach. It stretches from the ocean to the Intracoastal. The home was originally designed in the 1940 s by architect Marion Sims Wyeth, a favorite son of Palm Beach. Also: it is huge .

Le Palais Royal

Interior of Le Palais Royal .
Source: Sotheby’s International Realty

Price : $159 million
Location : Hillsboro Beach, Florida
The Deets : 17 beds, 20 full and 11 partial baths, 70,774 square feet
Why Is It So Expensive ? This is not to be confused with Versailles, the 90,000 -square-foot home featured in the Queen of Versailles documentary, but its still got plenty to boast about( and, hey, it didnt get stalled like that one ). This one is on over four acres of beachfront, with the first IMAX home theater( which can run$ 1 million itself ), a Go-Kart track, and ice skating rink, and a$ 2 million grand staircase.

Mon Reve

Mon Reve .
Source: Coldwell Banker

Price : $150 million
Location : Los Angeles
The Deets : 10 beds, 20 full baths, 38,000 square feet
Why Is It So Expensive ? Yes, place still matters. Carolwood Drive is a prestigious address, and its insured a lot of very high-priced sales. Mon Reve was Barbra Streisands old estate, where this new home, along with its Club Mon Revelounge, wine room, theater complexnow sits. Theres also parking for 50 vehicles: its Hollywood party-ready.

Briar Patch

Briar Patch .
Source: Hamptons Real Estate Online

Price : $140 million
Location : East Hampton, New York
The Deets : 10 beds, 9 baths, 10,300 square feet
Why Is It So Expensive ? Two words: The Hamptons. This estate has a quarter-of-a-mile of waterfront on Georgica Pond, which you can share with folks like Steven Spielberg and Martha Stewart. The 11.2 -acre property has two residencies, designed by architect Peter Marino: a restored Georgian resurgence and a modern guesthouse. Bigger deal: proprietors can subdivide into two lots and add additional buildings.

Trousdale Estates Compound

Trousdale Estates compound at 1187 North Hillcrest Road .
Source: John Aaroe Group

Price : $135 million
Location : Los Angeles
The Deets : 7 beds, 10 baths, 18,000 square feet
Why Is It So Expensive ? Its really about the views, all 360 degrees of them. The 18,000 -square foot villa sits atop Los Angeleshigh above most neighbours, actuallyand the house showcases its spot with a 180 -degree dining room. Celebrity pedigrees often carry cachets, though todays generation of buyers likely hasnt is aware of previous owner Danny Thomas.

Rancho San Carlos

Interior of Rancho San Carlos .
Source: Sotheby’ International Realty

Price : $125 million
Location : Montecito, California
The Deets : 12 bedrooms, 10 main and three partial baths, 29,483 square feet
Why Is It So Expensive ? Land and place: 237 hilltop acres. In addition to the gigantic main residency, it has 10 bungalows. And according to the broker Perkins, an accepted offer although it hasnt sold officially yet.

Palazzate

Palazzate .
Source: Caribbean& Co .

Price : $125 million
Location : Saint Peter’s Bay, Barbados
The Deets : Four mansions with five beds, six baths and around 13,000 square feet each.
Why Is It So Expensive ? Palazzate is a world unto itself, with four oceanfront homes and a wealth of amenities, from a spa region to personnel quarters.

834 Fifth Avenue Duplex

Interior of 834 Fifth Avenue duplex .
Source: Cary Horowitz/ Brown Harris Stevens

Price : $120 million
Location : New York City
The Deets : Seven beds, 10 baths, over 12,000 square feet
Why Is It So Expensive ? Its the largest existing original apartment on Fifth Avenue. In other terms: before the boom, this 20 -room residence was the biggest pad in old New York. It belonged to John Gutfreund, once known as the King of Wall street, who died earlier this year. Rupert Murdoch no longer lives in the building at 834 Fifth Avenue, but you can still be neighbors with his ex-wife Wendi.

The Park Bel Air

The Park Bel Air .
Source: The Park Bel Air

Price : $115 million
Location : Los Angeles
The Deets : Three home sites set on 11 acres
Why Is It So Expensive ? This is Bel Air, baby, and the plot is divisible. Buyers can opt to pay $45 million for one site, or Domvs, the developer, will construct you a 56,000 – to 61,000 -square-foot house for $ 115 million.

Las Varas Ranch

Some of the two miles of private beachfront at Las Varas Ranch .
Source: Douglas Elliman Real Estate

Price : $108 million
Location : Goleta, California
The Deets : 1,800 acres, two miles of oceanfront, an 18 -acre surface lake
Why Is It So Expensive ? 1,800 acres with two miles of private ocean frontage, in a part of Santa Barbara County thats pretty well preserved; you wont ensure McMansions sprouting up along this part of the Gaviota Coast. Though it has several residential buildings, its being offered as a developable place for a family compound, vineyard or horse farm.

Thoule-sur-Mer

Thoule-sur-Mer .
Source: Christie’s International Real Estate

Price : $105 million
Location : Cte dAzur, France
The Deets: Eight beds, 15,069 square feet
Why Is It So Expensive ? A 15,00 o-square-foot castle-like property on the Cte DAzur, overlooking the Mediterranean: views, views, position. It was built in 1900, but feels much older save for the triangular pool.

Sycamore Valley Ranch( formerly Neverland)

Sycamore Valley Ranch( aka Neverland Ranch ).
Source: Sotheby’s International Realty

Price : $100 million
Location : Los Olivos, California
The Deets : Six beds, seven full and two partial baths, 12,598 square feet
Why Is It So Expensive? Michael Jacksons legacy, a four-acre lagoon and a 5,500 -square-foot movie theater, on 2,698 acres northeast of L.A. Did we say Michael Jackson?

King’s Point Estate

King’s Point Estate .
Photographer: Dan Milstein

Price : $100 million
Location : Great Neck, New York
The Deets : 13 beds, 35 baths, 60,000 square feet
Why Is It So Expensive ? Eight acres in a gated, waterfront compound, with opinions of, and easy access to, New York City. Also: a bowling alley and casino. It once belonged to the Soviet billionaire Tamir Sapir.

Read more: www.bloomberg.com

About The Author

Leave a Reply