Are you looking for alternative investments? The High End Real Estate is heating up and trophy properties are selling in this real estate market. The world’s wealthiest are putting cash into real estate as they seek havens for their wealth. Overseas billionaires are seeking safety in the US.
Until this year, only 2 homes in America had sold for $100MM or more.
- Barry Rosenstein, founder of hedge fund Jana Partners, purchased the most expensive home ever at $147MM. This 18 Acre beachfront estate is located in East Hampton, New York.
- The next most expensive home purchased this year was $120MM Waterfront estate on 51 Acres. Located in Greenwich, Connecticut. It is said the buyers plan to turn it into a development.
- The Fleur de Lys – Estate in Holmby Hills, Los Angeles, CA. The 50acre trophy property sold in an all cash, bidding war for $102MM. The buyer is said to be Junk Bond King, Michael Milken.
The most expensive house available for sale on the market is a 25 Acre in Beverly Hills. At $195MM it is the most expensive listing in America. Jeff Greene is the seller and builder. He made his billion shorting the housing market.
It looks like the high end and luxury real estate market is going to keep going strong next year.Read the full article →