2014 Trifecta Of $100MM+ US Home Sales

Written by Posted On Wednesday, 07 May 2014 10:57

Originally published at the Hallmark Abstract Service, New York blog here.

Three 2014 US Single-Family Home Sales Above $100,000,000!

For the majority of Americans, and by that I mean the bottom 99.9999999999999999999999%, the mere concept of buying a home for more than $100MM is no different than the idea of being the first human to land on Mars.

To make this an even more improbable circumstance what if one of the homes in question was for weekend use and would not be a primary residence?

For the buyer of an ocean-front house on Further Lane in East Hampton, New York that is indeed the case although, to be fair, it is likely that with the $147MM purchase price the property will be used for some amount of business entertaining.

The second home to crack the $100MM barrier in 2014 is the 51-acre Copper Beach Farm in Greenwich, CT that sold for $120MM.

Bringing up the rear, although certainly no slouch, is the $102MM sale of the Fleur de Lys in Los Angeles (the highest-priced home sale recorded to date in L.A. County).

So now the question on the minds of some is when NYC will record its first plus-$100MM residential transaction although, if the PH at 50 UN Plaza sells at the $100MM asking price, it would win the prize!

The view of some RE agents on this subject of plus-$100MM NYC residential sales: ‘the idea that NYC would see the $100m threshold broken in 2014 seemed inevitable, only because of this 2014 US trifecta. It is the belief that we are experiencing a momentum swing over the $100m threshold because 3 sales by May, compared to a sale a year means a shift.’ (Source)

Time will tell!


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Michael Haltman

Hallmark Abstract Service provides title insurance for both residential and commercial real estate transactions in New York State.

Hallmark Abstract President Michael Haltman is also extremely involved with the combat veterans 501(c)(3) Heroes To Heroes Foundation, serving as the Board Chair.

Hallmark Abstract Service

In 2008 we opened our doors focused on two primary goals:

Number one was to be a title insurance company that would provide clients with a superior finished product that completely protects their interests for what will likely be one of the largest transactions of their lifetime.

Number two was to insure that the experience of working with Hallmark Abstract Service was as easy and seamless as possible for all parties involved in the transaction!

From the number of satisfied clients who come back to Hallmark Abstract Service time after time for their title insurance needs, the evidence bears out that we have accomplished these two goals in the past and will maintain our client centric focus far into the future!

Michael Haltman

Post 1984 MBA in Finance from the State University of New York at Albany that concentrated on the tax-exempt market, Michael became a municipal bond analyst at Shearson/Lehman Brothers tasked with following general obligation issuers on the city and state level as well as housing bonds secured by mortgage pools.

This experience at Shearson/Lehman Brothers followed by stints at PaineWebber and Citigroup provided a broad framework and understanding of the real estate and mortgage markets.

As CEO of Exeter Commercial which underwrote and funded commercial mortgage loans as a correspondent lender, title insurance played a critical role in both the underwriting and closing process.

In 2008 recognizing both an opportunity and need, Hallmark Abstract Service was born.


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