While the COVID-19 pandemic saw so many businesses close and unemployment rates skyrocket, the housing market saw a lot of sales - and some of them were more than major.
Bloomberg recently broke down the 10 most expensive home sold in the United States this year, all of which cleared at least $60 million. Even more surprising is where they were located.
There's been a lot of talk about New Yorkers and Califonians running to Florida, but half the highest sales on this list were in New York City. Manhattan co-op and condo sales were down 43% by the end of September, as sellers hesitated to list their apartments and buyers became more interested in the suburbs. Even so, all five of these expensive properties were sold in just one building.
The new luxury tower at 220 Central Park South sold its penthouse for $99.9 million. The pricy duplex sits on the 76th and 77th floors with 9,000 square feet, four bedrooms and five full bathrooms. The next most-expensive units all sold for between $61 and $63 million. Each apartment in the tower has a view that stretches past the George Washington Bridge, which is 120 blocks north. It seems the wealthiest of the wealthy are still attracted to the Big Apple.
Just two of this year’s top 10 sales were in Florida's Palm Beach area. That's one less on the list than last year, perhaps because the wealthy are less inclined to leave. A two-acre property took the cake at $71.9 million, turning a $40 million profit for the seller who bought the home in 2017. The former Kennedy family estate was sold for $70 million, having been newly renovated in 2015.
Two Beverly Hills homes made the top ten this year, and one in Bel Air. The so-called “Warner Estate” set the record as most expensive sale all year. Coming in at $165 million in Beverly Hills, the mansion was reportedly purchased by Jeff Bezos from David Geffen. Geffen then bought a new Beverly Hills home for $68 million. Meanwhile in Bel Air, the nine-bedroom 10721 Stradella Court was sold for $60 million to George Ruan, a co-founder of the Honey app.
This is not to say the housing market was unaffected. This year’s top 10 sales declined in value by about 35 percent compared to 2019. Read more about the homes and the trends in the Bloomberg's full report.