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!
