Top 10 US home sales in 2019 totalled US$1.08 billion

Luxury homebuyers in US are happy to to pay more than US$100m for mansions, penthouses and beachside properties

Published Fri, Dec 27, 2019 · 09:50 PM
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THIS year saw weak annual gains in US luxury home prices, new tax proposals on million-dollar properties, and restrictions for foreign investors.

But that didn't stop luxury homebuyers in the country from shelling out upwards of US$100 million apiece for mansions, penthouses, and beachside properties. Buyers included billionaires Jeff Bezos and Ken Griffin and Uber co-founder Garrett Camp.

A Manhattan penthouse topped the list of 2019's 10 most expensive residential real estate sales, selling for US$240 million, according to data from Miller Samuel. That is nearly US$166 million more than last year's biggest New York City sale.

In addition to Manhattan, the year's top luxury homebuyers also made purchases in Palm Beach, Florida, and in Los Angeles' Bel Air neighbourhood.

One Los Angeles mansion took a US$156 million price cut before selling in September for US$94 million, according to the Wall Street Journal.

The following is the top 10 transactions, based on data from Miller Samuel, totalling US$1.085 billion.

1. US$240m for New York penthouse

Citadel CEO Ken Griffin purchased the approximately 24,000 square foot penthouse at 220 Central Park South in January. It has 16 bedrooms and 18.5 bathrooms and is located in a 118-unit Vornado Realty Trust tower with unobstructed views. The US$240 million selling price makes it America's most expensive home.

2. US$119.8m for Los Angeles mansion

The Manor, a 56,000 sq ft mansion located in the hills overlooking Los Angeles, has 14 bedrooms and 24 bathrooms. It was originally listed for US$160 million, according to Jade Mills, before it eventually sold for US$119.8 million in July. It features a bowling alley, pool, tennis court, and entertainment centre.

3. US$110.3m for Palm Beach mansion

La Follia, a 37,516 sq ft house located at 1295 S. Ocean Blvd in Palm Beach in Florida, sold in June. It includes 13 bedrooms and 14 bathrooms and offers views of the Atlantic Ocean and Intracostal Waterway.

4. US$100m for Malibu beachside home

This California oceanfront property at 27600 Pacific Coast Highway is 13,693 sq ft square feet, sits on 3 acres of land, and has beach access. It features six bedrooms and seven and a half bathrooms as well as a pool, tennis court, theatre, gym, and two guesthouses.

5. US$99.13m for Palm Beach mansion

Citadel's Mr Griffin also bought a beachfront property at 60 Blossom Way this year, adjacent to his existing Palm Beach estate. The 18,452 sq ft home, sitting on land of almost 3.6 acres, was built in 2000 and last sold in 2017 for US$77.1 million, according to the website of Palm Beach County Appraiser Dorothy Jacks.

6. US$94m for Los Angeles mansion

Once listed for as much as US$250 million, this Los Angeles mansion known as "Billionaire" sold at a 62 per cent discount in October, according to the Wall Street Journal.

The four-storey, 38,000-square-foot home has 12 bedrooms and 21 bathrooms, plus three kitchens, five bars, a spa, gym, pool, theatre, auto gallery, and a bowling alley.

7. US$92.7m for New York penthouse

A second unit at 220 Central Park South also made the list of top purchases. The condo building has recorded more than US$1 billion in sales, according to the New York Post. This 9,817 sq ft unit features four bedrooms and six and a half bathrooms.

8. US$81m for three New York condo units

Amazon founder Jeff Bezos purchased three condos - a penthouse and two additional units - at 212 Fifth Ave in New York in May for a total of US$81 million.

Together, the condos have 12 bedrooms and more than 17,000 sq ft of space. The penthouse was originally listed for US$58 million and the units at US$18.2 million and US$11.3 million, respectively, according to StreetEasy.

9. US$77.1m for New York townhouse

John Griffin, founder of Blue Ridge Capital, bought an almost 30,000 sq ft townhouse on East 67th Street in Manhattan in June. It was previously owned by Philip Falcone, who purchased it in 2008 for US$49 million and invested in a multi-year renovation.

10. US$71m for Beverly Hills mansion

Uber co-founder Garrett Camp purchased the newly-built Trousdale Mansion in Beverly Hills in June, according to the Los Angeles Times. The home is 12,119 sq ft and sits on more than 1 acre of land, the Los Angeles Times reported. BLOOMBERG

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