Luxury Market Strong: The Week’s Most Expensive New Listings Total Over $210M

Luxury Market Strong: The Week’s Most Expensive New Listings Total Over $210M

most-expensive-june-30

realtor.com

Despite warning signs of impending economic doom, the luxury real estate market is showing no signs of a slowdown. The week’s “cheapest” of the most expensive new listings on realtor.com® will still set a buyer back $30 million.

So never mind the fuss over Brexit, because it was a booming week for luxury in the U.S. this week. The total value of the five priciest new listings is a staggering $210.5 million. However, there’s a little gloom out there for the luxury market—our own chief economist, Jonathan Smoke, sees a stronger dollar ahead, which “will dilute buying power for many international buyers.”

That said, Smoke loves the decline he’s seeing in mortgage rates. But for these high-priced homes, we doubt buyers are sweating their ability to qualify for a mortgage.

As for the homes, take a look at an amazing Santa Barbara villa, two very different opportunities in NYC, a supermodel’s Hamptons home, and a San Francisco Bay Area home whose sale’s proceeds will go to an animal charity.

In the name of good causes, please have a look at this week’s priciest new listings.

1. 1627 E Valley Rd, Montecito, CA

Price: $52,000,000 ($2,436 per square foot)
Luxe factor: This Santa Barbara-area mansion was built in 2001 and owned by the late Ed Snider. Snider, former owner of the NHL’s Philadelphia Flyers, frequently entertained family and guests at the mansion, according to the Wall Street Journal. The home’s numerous gardens (rose, flower, and organic vegetable) invite a visitor to take a leisurely stroll on the 9-acre spread.

Montecito, CA

realtor.com

Montecito, CA

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2. 18 Gramercy Park S Apt Ph, New York, NY

Price: $47,500,000 ($7,505 per square foot)
Luxe factor: Also associated with sports ownership, this luxe NYC penthouse unit belongs to Houston Rockets owner Leslie Alexander. It made a splash on the market in April 2015 for the same $47.5 million price tag, but no buyer made the leap. Back for another attempt at a sale, the four-bedroom, two-level penthouse was purchased by Alexander in 2012 for $42 million.

Gramercy Park, New York, NY

Douglas Elliman

Gramercy Park, New York, NY

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3. 12 E 73rd St, New York City, NY

Price: $42,500,000 ($4,083 per square foot)
Luxe factor: This five-level townhouse “has undergone a complete state-of-the-art renovation,” according to the listing. Belonging to real estate executive Andrew Farkas, the five-bedroom residence offers over 10,000 square feet of living space plus a roof terrace with views of Central Park.

E 73rd St, New York, NY

Corcoran

E 73rd St, New York, NY

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4. 7 Country Oak Ln, Alamo, CA

Price: $39,000,000 ($1,807 per square foot)
Luxe factor: Tucked away on over 20 acres in a posh San Francisco Bay Area suburb, this massive 20,000-square-foot manor belongs to Workday Chairman David Duffield. The Wall Street Journal reported that a sale at the current asking price would set a record for the tony town. And in a delightful twist, the Duffield family will donate all proceeds from the home’s sale to Maddie’s Fund—a nonprofit animal welfare group.

Alamo, CA

realtor.com

Alamo, CA

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5. 121 Brick Kiln Rd, Bridgehampton, NY

Price: $29,500,000 ($2,673 per square foot)
Luxe factor: Former supermodel Christie Brinkley is selling her Hamptons spread! Known as Tower Hill, this luxurious compound spans approximately 20 acres of prime Bridgehampton property. You can lay out by the pool or take a gander at the ocean from atop the 50-foot-tall observation tower.

Bridgehampton, NY

Douglas Elliman

Bridgehampton, NY

The post Luxury Market Strong: The Week’s Most Expensive New Listings Total Over $210M appeared first on Real Estate News and Advice – realtor.com.

Create a Plan for Maximizing Your Investment

Strong economic indicators along with greater demand are two extremely important factors to look for when deciding to build your luxury home—whether you’re buying it for your personal use or strictly as an investment.

Why?

Because if and when you decide to sell your property, you want to be in a place where there is enough demand to be able to secure a premium price and return on your investment. Right now, Los Angeles is one of the few places in the country where these conditions exist in a strong enough fashion to lend confidence to smart building projects.

In fact, Los Angeles has taken its place in the list of “The Top 10 Booming Markets for Real Estate Development” across the country and comes in at number 9 in Moneywatch’s Top 10 Luxury Real Estate Markets around the world.

By | 2017-01-18T16:29:51+00:00 July 9th, 2016|luxury real estate|0 Comments

About the Author:

Arie Abekasis - Founder of the Diditan Group Inspired by years of experience in the fashion industry, Arie Abekasis infuses the elegance and beauty of the Mediterranean into his company's portfolio of homes. The Diditan Group builds stylish homes in a range of sizes, from condominiums to sprawling estates. They design, build and finance fine Tuscan, Modern, Contemporary, Cape Code and Mediterranean-style luxury homes, condos and investment properties with the assistance of the top engineers, architects and craftspeople in the home building field. Offering nearly unlimited customization preferences, Arie Abekasis strives to provide superior craftsmanship, calling upon well-established architects, engineers, and designers to erect homes with all the sophistication, elegance, and functionality demanded by today’s discerning consumer. Along with providing comprehensive luxury living directly inspired by the enchanting ambiance of Italian countryside, creating an innovative internal and external atmosphere of beauty and serenity remains Arie Abekasis’ ultimate goal. Moreover, working harmoniously with Diditan Financial, an organization established in 2007 with a purpose of granting customers potential access to effective financial assistance, Diditan Group makes securing an affordable, hassle-free loan easier than ever. For a preview of residental and commercial properties built by Arie visit: https://plus.google.com/+Arieabekasis/collections.

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