Unique Properties - 25 Most Expensive Homes
Palm Beach, Fla.
101 El Bravo Way
Listing Price: $47.5 million
----
Following the recent release of NAR’s national numbers for July home sales, we have been hearing a ton about the large drop we experienced--27% from June and 25% year-over-year from July 2009. But according to a Venessa Wong Bloomberg Businessweek.com article, “Amid concerns about unemployment, an uneven housing rebound, and difficulty getting financing, some elite developers continue to build ultra-luxury homes on spec—for sale on the open market.”
Wait, really?! Yes, really. And actually those housing numbers I mentioned earlier also contain a, perhaps missed, message. What message you ask? Well as Joyce Marsh, Luxury Home Specialist for Stirling Sotheby's International Realty beautifully explained on her blog last week, “while overall sales were sharply down, sales in the $1M+ price segment were up in every region across the country and more than 6% nationally.”
Wow, maybe these developers have the right idea after all! So what does $47.5 million get you, exactly? Well, the above pictured property in Palm Beach, Fla. is a Mediterranean residence, completed in the spring by Addison Development of Palm Beach. It offers about 21,200 sq. ft. of living space on three floors that include nine bedrooms, eight full baths, and two half baths, according to realtor.com. The property has a swimming pool and 175 ft. of frontage on the Atlantic Ocean.
Also on the list of 25 most expensive homes are five more Florida properties--one currently the most expensive on the list, listed for $84 million, and a Windemere property that will be listed for $100 million when it’s completed (though you can have it for a cool $75 million as is). Then there’s my personal favorite, a Paradise Valley, Ariz. home listed for $24.9 million.
Check out all 25 properties and read Venessa Wong’s article here.
