Living a Life of Luxury: Highest Real Estate Sales of 2021
2021 was a record year for real estate investing, with the strongest home sales seen since 2006. The median home sales price reached a record-setting $358,000, and you have to go back to 1999 to see sale prices that high.
It was also a good year for the luxury real estate market, with 40 properties selling for more than $50,000,000. Here are the most expensive real estate sales of 2021.
1. $85 million: East Hampton, New York
The former home of Calvin Klein, located in East Hampton, is a great example of the power of real estate as an investment. It sold with an adjacent lot for a total of $85 million. Klein paid $3.6 million for the property in 1987, turning over an impressive profit on the five-bedroom mansion. It includes 10,000 square feet of living space, a boathouse, and a swimming pool.
2. $87 million: Malibu, California
Set on Paradise Cove, this three-acre estate offers panoramic views of the ocean from its clifftop perch. The main home includes five bedrooms, and a three-bedroom guest house provides plenty of room for visitors. A funicular leads from the main house to an oceanfront cabana and bar.
3. $94 million: Manalapan, Florida
Nestled between Palm Beach and Delray Beach, Manalapan Island is just south of Billionaires’ Row. Here is where a 15-acre compound sold for $94 million dollars. The 62,000-square-foot home includes 33 bedrooms and 38 full bathrooms — just enough space for the Ziff family that called the estate home since 1950.
4. $95 million: Palm Beach, Florida
Another Palm Beach oceanfront property changed hands this year. Built in 2001, this residence has 28,000 square feet of living space with seven bedrooms. The two-acre lot includes 170 feet of prime oceanfront property for soaking up the Florida sun.
5. $110 million: Palm Beach, Florida
Located between the Lake Worth Lagoon and the Atlantic ocean, this 2.7-acre, sprawling estate stretches from one body of water to the next. The 16,000-square-foot mansion includes nine bedrooms and 3.5 bathrooms with an elevator, wine room, gym, and summer kitchen.
6. $105 million: Southampton, New York
A 42-acre estate with one-quarter mile of beach frontage — the most in the Hamptons — sold for $105 million. The main house covers 12,000 square feet and includes 12 bedrooms and 12 bathrooms. This property was designed for relaxation, with basketball and tennis courts, a swimming pool, and a pond.
7. $122.7 million: Palm Beach, Florida
A sprawling estate with a spec mansion on Palm Beach sold for nearly $128 million. The oceanview site features a contemporary main house and guest house with a combined total of 21,000 square feet of living space. The property also includes a bar, game room, wine cellar, gym, and beauty salon. Guests can enjoy movies at the outdoor movie theater or relax in the swimming pool.
8. $133 million: Bel-Air, California
The sale of a Bel-Air mansion last year ranks as one of the most expensive in state history. This contemporary-style home includes 19,000 square feet of living space with a theater, spa, and gym. Additional features include a hot tub and fire pit in the master suite and a double-height ceiling in the dining room. The 4.6 acre property is also home to a five-bedroom guest house.
9. $177 million: Malibu, California
A seven-acre estate on a narrow lot that stretches from the Pacific Coast Highway to the ocean sold for $177 million, setting a new record for the state of California as the most ever paid for a home. Located between Paradise Cove and Escondido Beach, the property features a 10,000-square-foot mansion, two guest houses, and a swimming pool.
10. $200 million: Beaverhead County, Montana
The sprawling, working cattle ranch that borders Yellowstone National Park sold this past year for $200 million. Covering 345,000 acres outside of Bozeman, Montana, the ranch will continue to operate as a ranch and agriculture preserve. All livestock transferred with the sale.
Effortless Ownership of Luxury Homes
At OpenAiRE, we understand how luxury homes fit in the short-term rental market. Reach out to one of our agents if you are thinking about purchasing a luxury investment property this year. We handle all the details, from sourcing to property management so you can keep doing what you love.