Most Expensive Home In The US Goes On Sale For $295 Million

The most expensive home for sale in the US has officially hit the market at a listing price of $295 million. The property is called Gordon Pointe, and is located in Naples, Florida, on the Gulf Coast within an enclave known as Port Royal. The property is also about 9-acres. 

The main house on the property is about 11,500 square feet with six bedrooms and the property has two other guest houses that are each over 5,000 square feet, making the combined total interior about 22,800 square feet. 

The three homes are located on a peninsula that has 1,650 foot waterfront with a private yacht basin and dock. 

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Co-listing agent Leighton Candler of Corcoran told CNBC that the value of the property isn’t based on the size of the three homes, but the privacy, beach frontage, and an opportunity for further significant development. 

“The property can accommodate more than 200,000 square feet of residential development, meaning the land has a ton of untapped potential,” according to the property’s press release.

“There can be eight waterfront homes on this property,” Candler added. 

The nine acres of land are made of contiguous lots. The first lot was initially purchased in 1985 by John and Rhodora Donahue. After the purchase of the first lot, the Donahues continued to buy up more and more of the peninsula until they owned the entire thing. 

Through these purchases, the Donahue’s created an exclusive, gated compound that’s almost entirely surrounded by water with a single private drive to avoid traffic. 

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“It gives you all the benefits of being on an island, but on Gordon Pointe your family can be secluded without feeling isolated,” Candler said.

Candler described that the T-shaped dock can accommodate six boats, and the Donahues constructed a private yacht basin that’s 231 feet by 50 feet and has a depth of almost 8 feet, something Candler says is a rare amenity that had to receive special approval by the US Army Corps of Engineers. 

The average listing price for properties in Port Royal is $24.1 million. Before Gordon Pointe, the highest-paid price for a home in Port Royal was for $45 million. 

“We did our best to price [Gordon Pointe] and we can defend that price all day long,” co-listing agent Dawn McKenna of Coldwell Banker Realty told CNBC.

McKenna also stated that the listing is already drawing significant interest since it first went live last Wednesday, and she’s booked eight in-person visits with prequalified buyers.

Home Owner

A Look at the Second-Most Expensive Property Sold in America

In what is considered to be the second largest residential sale in American history, the property of Univision chair Jerrold Perenchio’s mansion, including an 11 acre estate, has finally been sold.

Two years since Perenchio placed “Chartwell” on the real estate market it has been picked up for a cool $150 million, which may sound a lot but is in actual fact only a third of its original asking price – an overly optimistic $350 million.

Known to some as the “The Beverly Hillbillies” mansion, the exact figure of the sale has not been announced, however the property was bought by the Australian-British-American businessman son of media mogul Rupert Murdoch, Lachlan Murdoch, whose lower offer has been formally accepted.

The billionaire co-chair of News Corp will have plenty of space to play with. As well as the 11 acres and the mansion, there are a further five properties on the estate, bought over time by Perenchio.

The main mansion is a 25,000-square-foot 1930s French neoclassical style chateau that sits nicely in eleven acres of land. Also included is another property just behind which was purchased from former President Ronald Reagan and his wife Nancy.

Picking up its nickname due to it being used in the credits of “The Beverly Hillbillies” sitcom – although filming was never conducted there – the estate has more recently been thought of as one of LA’s greatest properties.

The property was originally designed by architect Sumner Spaulding and although the estate is clad in limestone, there are many Gatsby-esque attractions including formal rooms, a vaulted foyer and the stunning ballroom.

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There is also a custom wine vault enabling a wine collector to collate around 12,000 bottles.

Although the 26 room mansion was commissioned by civil engineer and contractor Lynn Atkinson as a gift to his wife – who was an established socialite at the time – it is believed the couple never actually resided in the property.

The property unfortunately became something of a dud decision as the “house with the golden door knobs” gave Atkinson an extremely large tax bill.

In an attempt to reduce this bill Atkinson entered a long disagreement with the county Board of Equalization as he claimed the value of the property had been vastly over assessed and eventually he had it devalued from $165,000 to $70,000 in 1943.

Atkinson was reported at the time as saying that “I can’t live in the property with the taxes as high as they are, and no one else can.”

The issues with the tax bill does not seem to have changed much with the Murdochs now possessing a property which has one of the largest yearly tax bills in the entire Los Angeles area — a reported $1.3 million.

Perenchio passed away at the age of 86 in 2017 and had bought the property for a mere $14 million in 1986. In the 31 years he owned the estate he hired architect Pierre Barbe and designer Henri Samuel to restore the property, creating a cellar to house his private wine collection – one of the biggest in California – and a Versailles-like palace for his established art collection.

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He then went on to snap up the Reagans’ home for $15 million in 2016 after Nancy had also passed.

Hidden behind walls and hedges the property is not visible from the street so passers-by cannot view the tennis court, the pool house beside the 75 foot swimming pool, the manicured lawns, or even the stunning water fountain features.

There are also several items that have been created beneath the estate. As well as the wine cellar there is a subterranean garage, allowing up to 40 vehicles space to park. There is also a (not so) secret tunnel that runs from the basement along to the swimming pool.

Perenchio’s estate included many more properties and since his death many have been sold, including a property opposite Chartwell that was utilized as Perenchio’s own vineyard that sold last month for $12 million. He has also had properties in Malibu sold off.

The title of the most expensive property ever sold in America still sits with billionaire Ken Griffin who splashed out a staggering $238 million on a penthouse in New York City’s 220 Central Park South.

Covering an enormous 23,000 square foot and taking over floors 50 – 53 at the city’s skyscraper, designed by Robert A.M. Stern, the property was just one that Griffin picked up over a two year period. He has also bought a $122 million mansion in London, England, which is close to Buckingham Palace, making it one of the most expensive properties ever sold in the capital.

He also owns $58.75 million worth of a condominium in Chicago, a $60 million beach house in Malibu and around $250 million on land in Palm Beach, Florida, where he is planning on building himself a mansion.

Expensive Property

A Look at the Top Ten Most Expensive Property in America

We all love looking at the property of the rich and famous. However, do you actually know where the most expensive places to live are in the United States? Property Shark – the real estate blog – released its annual ranking of the top 100 priciest zip codes in America this week and there is an interesting mix of locations featured.

With 125 zip codes actually making the list due to the large number of ties in medians, it is clear that the richest citizens live in California with 91 percent of the cities listed based in the Golden State and areas such as the Bay Area enjoying a price increase of at least 40%. Based on median sale prices rather than asking prices to reflect a more realistic market, a Brooklyn zip code has made the list for the first time thanks to an amazing 71% price increase over the last two months, as well as areas in Washington, Florida, New York and Massachusetts.

However it appears that 63 of the zip codes featured saw a contraction in their median prices compared to figures released in 2018. 38 zip codes had an increase in their median prices and there were 20 new areas added to the list.

We take a look at the top ten expensive zip codes to buy property here:

#10 Ross, California – 94957

Located to the north of San Francisco, Ross in California has climbed 13 positions in the last year to make it into the top ten and is now North Bay’s most expensive zip code – Stinsons Beach, 94970 is their second most expensive, hitting 16 on the list.

#9 Los Altos, California – 94022

Drive an hour south of Ross and you will hit Los Altos, which has made it to number 9 thanks to having a median of $3.45 million. The Santa Clara community has recently become the third most expensive zip code in Silicon Valley with property prices continuing to increase.

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#8 TriBeCa, New York – 10013

With a median of $3.51 million, TriBeCa’s 10013 has seen real estate prices increase by 8% in the last year making it hit the top ten.

#7 Palo Alto, California – 94301

Just four miles away from the most expensive zip code in the US, Palo Alto has a median of $3.52 million. Including parts of Crescent Park as well as Downtown Palo Alto, 94301 has seen a decrease in property prices of 6% year-over-year.

#6 Boston, Massachusetts – 02199

With a population of 1,146 the Prudential Center area of Back Bay in Boston has dropped from number three to number six in Property Shark’s list thanks to a 23% contraction of its median.

#5 TriBeCa/Downtown/Manhattan, New York – 10007

With a median price of $3.9 million, this affluent area of New York saw an increase of 27% and is home to younger celebrities, including Taylor Swift, as well as Wall Street bankers.

#4 Beverly Hills, California – 90210

Once again California has claimed most of the top spots with Beverly Hills in Los Angeles, California, seeing an increase of 27% on property prices, taking their median up to just over $4 million. However their exclusive gated community of Beverly Park Circle, often described as the richest street in Beverly Hills, has a median home value of $16.4 million.

#3 Santa Monica, California – 90402

Reaching number 3 in the most expensive real estate markets is Santa Monica in California, an increase of 2 positions from last year thanks to a 10% year-over-year increase pushing it ahead of last year’s number 3 slot – Boston’s 02199 which has moved down to sixth.

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#2 Sagaponack, New York – 11962

Just missing out on the top spot is Sagaponack in New York. The most expensive area outside of California has seen a price contraction of 22%, however it has managed to maintain its position from last year.

Located in the Hamptons, the Southampton village appreciates an ocean-vista and stunning sunsets. Both are pivotal to keeping the house prices up with the media price now sitting at $4.3 million.

It is also home to junk bond billionaire Ira Rennert’s 29 bedroom summer house, complete with a 100 car garage.

#1 Atherton, California – 94027

If you have ever visited the tech-titan community of Atherton, California you will have marvelled at the stunning houses so the fact that it is the most expensive zip code in America will come as no surprise.

With companies including Facebook, Tesla and Google amongst other technology giants based in the area, Atherton has become home to many of the Silicon Valley residents.

With famous residents including former HP CEO Meg Whitman – now CEO of video startup Quibi – and Google’s Executive Chairman Eric Schmidt, property in this region can sell for an average $6.7 million, an increase of 43 per cent since 2017.