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Most Expensive Properties For Sale – Update

10 October 2006 by 4 Comments

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In August I posted a blog listing that luxury homes prices were now breaking the nine figure mark ‘ the list included properties such as Donald Trump’s $125 million Maison de L’Amitie in Palm Beach. (Click here to read that post). To put that in perspective a buyer would, according to the Palm County property appraisers website, have to pay more than $2 million annually in taxes ‘ almost 10 times the total value of the average home price in the US.

So 80,000 square footage and 24-karat gold fixtures aside, vacant lots are proving that it’s all about location, location, location. Claiming top honors as the most expensive vacant lot for sale, and weighing in at $75 million, is a 12-acre parcel of residential land in pricey and prestigious Bel-Air in Los Angeles.

It was bought last year by ECP Acquisitions for development but due to the softening market in California, it appears that even the wealthy know when it’s time to reconsider. The sale is being handled by Beverly Hills-based Westside Estate Agency and New York-based The Greenwich Group International.

To view a selection of other multi-million properties for the rich-and-famous click here.

  • http://truenorthrealty.blogspot.com Michael Daly

    I figured that the mortgage scenario for Trump’s house, at $125,000,000 looks like this:

    10% down – $12,500,000
    Closing costs – roughly $3,600,000
    Loan balance of $112,500,000 at 6.25% for 30 years – $692,681.85 per month (not including real estate taxes and insurance escrow).
    And get the payments in on time, because late fees on that monthly payment would cost as much as a new Honda Civic.
    md

  • Susan John

    Bummer, that means I just wont qualify.

  • Mary John

    Thanks for the information. Unbelieveable. At least one can dream.

  • http://most-expensive-real-estate.blogspot.com/ Most Expensive Real Estate

    Expensive. Only for the rich and famous.
    Here’s another site you might want to look at that has the list of most expensive home like what you have in here. Thanks!

    http://most-expensive-real-estate.blogspot.com/