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After all the hoopla over the recent $147M sale in The Hamptons, I compiled a list of the highest priced sales around the world I could think of. It’s not comprehensive since all the sales are in the US or UK, and there are a few out there that haven’t closed yet.
Here’s a very brief Marketplace Radio piece on this phenomenon.
Please share if you know of others!
A few takeaways:
– The media coverage to actual sales ratio is staggering.
– There can’t be more than a few dozen, a few hundred or perhaps a few thousand that would be considered buyers in this space at any one time.
– These sales are a pop culture-like distraction from the growing issue of access to affordable housing in the US.
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Good points, Jonathan , regarding the market relevance of these juicy transactions, and to the contrast with affordable housing.
Thinking about the Copper Beech Farm sale; with about 5100 front feet, the price reflects $29,000 per FF. In the modest “Irish Riviera” of Long Beach, Indiana, where we own a non-lakefront home, beachfront prices are about $15,000 per FF, but we’re talking about sites with 80 to 240 feet…anyway, I guess I won’t be using that Hamptons sale as a comp very soon!
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