Luxury homes offer a unique challenge for home sellers. Due to their hefty price tag, such properties appeal to a narrow and exclusive segment of the market. If you feel you may be pricing your home way beyond most people’s reach, don’t despair. As long as your property ticks the right boxes, it won’t be hard for you to find the right buyer for it. Just take a look at the top five highest home sales of 2020 and see where your price stands.
#5 • South Lake Trail in Palm Beach, Florida
Despite not being an oceanfront property, the South Lake Trail estate still managed to sell for a record-breaking eight-digit figure, according to the Robb Report. Taken off the hands of energy financier Robb Turner by an unnamed buyer last year, the place raked in a cool $71.8 million for its now former owner. Though the 15,000 square-foot estate was built more than 80 years ago, it still looks as good as new, thanks to the meticulous restoration funded by the Turners.
#4 • Meadow Lane in the Hamptons, New York
Hedge fund billionaire Ken Griffin bought the most expensive home ever sold in the US in 2019. Proving he still has plenty of cash to spare, Griffin bought Calvin Klein’s seven-acre estate in the Hamptons last year for an eye-popping $100 million. The place is known for its ultra-contemporary flair because the designer tore the old property down and replaced it with a massive modern home made up of three sleek rectangular glass-encased buildings.
#3 • 220 Central Park South Penthouse in Manhattan, New York
The third most expensive property on the list has the same price tag as the property listed before it… but with considerably less floor space. It was no skin off the owner’s back because the property is located in New York’s most expensive zip code. The anonymous buyer of the 9,000-square-foot duplex apartment now has access to a stunning view, courtesy of the penthouse occupying the 76th and 77th floors of the Central Park South building.
#2 • Jeffrey Katzenberg’s Estate in Los Angeles, California
Proving that it is still the real estate location to beat, California nabs the top two spots, starting with Jeffrey Katzenberg’s Beverly Hills mansion. The Hollywood tycoon pulled in $125 million for 6.4-acre estate overlooking Sunset Strip. The buyer? WhatsApp cofounder Jan Koum, who also owns a $100 million property in Malibu.
#1 • The Warner Estate in Los Angeles, California
Fittingly, the most expensive house in California 2020 was bought by the world’s richest man, Amazon founder Jeff Bezos. Originally owned by Jack Warner, the driving force behind Warner Bros. Studios, the estate was purchased by music mogul David Geffen back in 1990 for $47.5 million, making it the most expensive house sold in Los Angeles at that time. Geffen’s sale to Jeff Bezos for $165 million last year allows the estate to earn that distinction once again.
Planning to sell your La Quinta luxury home? The California Lifestyle Realty team can help you price and market your property properly. We can help your potential buyers answer the question, “Why La Quinta?” And why your property? Contact us today so we can discuss the home selling process in detail.
Call California Lifestyle Realty at 760.564.0200 or email info(at)califestylerealty(dotted)com to get started.