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Heiress Sells 40-Acre Residential Hamptons Property in a Record Breaking $103 Million Deal
The sale of a $103 million residential property in New York is in line with national statistics and Raleigh real estate statistics that show luxury home purchases are on the rise despite the current slump in the overall US real estate market.
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June 5, 2007 (FPRC) -- The recent sale of a $103 million dollar Hampton’s property broke the record of the most expensive residential real estate transaction in the United States. The sale price for the Hampton’s lot is $33 million dollars more than the previous record real estate sale price of a $70 million dollar Palm Beach estate to Revlon CEO Ron Perelman.
The new sale was intended to be kept hush-hush. However, the news was quickly released that Schlumberger Oil fortune heiress Adelaide de Menil and her husband Ted Carpenter had sold the ocean front property to Ron Baron, founder of Baron Funds Investment Company.
Though the sale breaks a new US record, the world record for highest price ever paid for a piece of residential real estate is held by Forbes Billionaire Lakshmi Mittal for the purchase of his $128 million dollar London estate.
“The most expensive residential piece of Raleigh real estate sold last year was $3,350,000. That’s a lot of money to pay for a builder’s vision of the ideal dream home, which is why most of our luxury home buyers build their own dream with our help in selecting the best floor plan and style of home for the homesite,” says Mike Montpetit, owner of Town & Country Realty, Inc.
Although these record breaking cases are extreme, the sales are in line with statistics that show that sales of luxury real estate has remained strong while most of the rest of the US real estate market slipped in 2006. According to research by DataQuick, sales of homes priced at $5 million and above jumped 18% last year and rose a staggering 31% in the first quarter of 2007.
Leading the pack as the priciest estate is “The Pinnacle,” under construction at the members-only Yellowstone Club in Montana, and offered for sale by the club’s developer, Tim Blixseth, for $155 million. The four other highest priced homes include Saudi Prince Bandar’s estate in Aspen (CO), priced at $135 million; “Fleur De Lys”, a Los Angeles (CA) property priced at $125 million; Donald Trump’s $125 million Palm Beach (FL) re-do; and the $100 million estate known as “Tranquility,” at Lake Tahoe (NV).
“Though Raleigh is quickly becoming a desirable location for much luxury home development, our highest price luxury home locally is nearly half the cost of many luxury estates around the US. The priciest home on the Raleigh real estate market currently is $5,900,000,” says Montpetit.
About Town & Country Realty Inc.: Town & Country Realty Inc. is a leading Cary NC real estate agency in its 7th successful year of business. The company is resolute in its mission to provide outstanding customer service and offers a “love it or leave it guarantee” as a measure of their unyielding commitment. Town & Country’s website, http://www.MikesRealEstateTeam.com offers a full local area property search, featured properties, and a library of downloadable resources for Cary NC real estate buyers and sellers. For more information or to find your next Cary home, contact Town & Country’s Quick Response Line at (919) 786-7776.
Send an email to Mike Montpetit of Town and Country Realty
919-786-7776
Keywords:
Raleigh real estate
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