The expensive homes on the list below are way above the average price of a home in the U.S. Property taxes alone on these homes are unaffordable for most, and you can just imagine the costs of upkeep. The buyers of these properties obviously don’t have to worry about menial tasks like mowing the lawn or cleaning the pool.
Most people would probably prefer to have their own homes in every city in the world rather than spending it all on one property, but the following high-flying buyers appear to have a different mindset. An interesting peek into what the following homes were sold for may just inspire you to venture into the property market. Most homes don’t sell for anywhere near the following prices.
1. East Hampton Estate, New York
The most expensive home sale in Hampton history took place in May 2014. Barry Rosenstein, a hedge fund manager, paid $147 to secure the stunning estate located at 60 Further Lane in East Hampton. Rosenstein is the founder of Jana Partners, a hedge fund that managed as much as $11 billion in 2011 when it was at its peak. The sale of the East Hampton Estate was a private one, and the home never went on the open market. For about five years, this home sale held the record for being the most expensive one in U.S. history.
Millionaires with many different properties often use the services of a property manager, so they don’t have to deal with all the day-to-day details of property management. Investors who build up a portfolio of properties to rent out also usually make use of Boulder real estate rentals and property management services, such as Everest, Mynd, 8Z Rentals, and Fowler. Everest will send you a free report if you want to know what your property is worth and what you can rent it out for.
2. Chartwell Estate, Bel-Air California
Jerry Perenchio, a millionaire, made his money as the owner of the Univision media empire and bought Chartwell Estate in the 1980s for an unknown amount. The palatial 10-acre estate in the middle of Bel-Air was included in the opening credits of the TV series “The Beverly Hillbillies” in the 1960s and became famous as the fictitious home of the Clampett family.
When Penrenchio died in May 2017, his heirs listed the home at $350 million. The millionaire had been paying about $1.3 million in property taxes at the time. The heirs dropped the price to $240 million a year later and subsequently to $195 million. In December 2019, it was bought by Lachlan Murdoch, son of billionaire Rupert Murdoch at a price of $150 million. The 26-room mansion is surrounded by beautiful gardens and has a 5,700 sq ft. guesthouse.
3. Jack Warner Estate, Beverly Hills
The Jack Warner Estate is located at 1801 Angelo Drive in Beverly Hills. The property is named after Jack Warner of Warner Bros., who initially developed it. Entertainment mogul David Geffen bought the home in 1990 for nearly $50 million. In 2020 Jeff Bezos, former CEO of Amazon, purchased the home for $165 million and broke the record for the most expensive home ever sold in California.
The estate is surrounded by tall hedges and has its own golf course, a tennis court, and a motor court. It also has two guest houses and ponds and features a screening room. Bezos also bought 120 acres of undeveloped land in Beverly Hills for $90 million at the same time.
4. Seven Acre Malibu Estate
Fashion executive Serge Azria and his wife bought the estate in Malibu in 2013 from late film producer Jerry Weintraub, and despite what they paid, they still did extensive renovations. Jerry Weintraub bought the first parcel of land in 1978 and the second parcel in 1980. At one stage, he wanted $75 million for the estate, but he ended up accepting the $41 million offer from Azria.
In October 2021, the Malibu estate was bought by venture capitalist Marc Andreessen. He paid $177 million for the magnificent property that has multiple guest houses, guardhouses, and a box garden.
5. Central Park South, Manhattan
The most expensive home sold for $238 million is not a beachfront property or a mansion but a penthouse apartment. In January 2019, Ken Griffin, a hedge fund manager, purchased the luxury apartment that takes up four floors of a 79-nine-floor tower. The 24,000 sq. ft. apartment offers incredible views of the city from the tower that was only opened months prior to the purchase.
Griffin’s hedge fund, Citadel, means he has the net worth to make property purchases like this. He holds the record for most expensive home purchases in Florida, Illinois, and New York. Griffin is likely to spend many more millions on customizations, fixtures, and furnishings for this luxury apartment.