The Real Deal New York

The $100M club: The trophy homes that sold around the world last year

At least 10 homes sold at that price of higher in 2016: Christie’s
By Miriam Hall | May 10, 2017 03:40PM

$100M-plus publicly reported sold residential properties

At least 10 homes priced at $100 million or above sold around the world last year, with a collective value of $1.3 billion.

It’s the highest number of homes to ever sell over the $100 million price point in one year, according to Christie’s International Real Estate’s 2017 Luxury Defined report, which gathers data from the company’s affiliates in 100 markets worldwide.

New York City did not make an appearance on the list for 2016. While hedge fund mogul Ken Griffin is reportedly buying an apartment at 220 Central Park South for more than $200 million, there hasn’t been a reported closed sale north of $100 million in the city since an apartment at Extell Development’s One57 smashed the condominium sale record in 2015. The city’s most expensive recorded sale in 2016 was Saudi retail magnate Fawaz Al Hokair’s $87.7 million purchase at 432 Park Avenue. However, homes in Los Angeles and the Hamptons did make Christie’s cut.

Four of the $100 million-plus homes sold last year were in Hong Kong, with the top sale there setting an all-time record in Asia of $29,385 per square foot.

Here’s a look at the publicly recorded $100 million and above sales last year:

1. Gough Hill Road Residence
Location: The Peak, Hong Kong
Type: Apartment
Price: $271 million

This home 9,212-square-foot home at 15 Gough Hill Road on the Peak in Hong Kong, the highest point on the island and one of the most exclusive residential areas, sold for a record breaking $270.7 million last year. Hongtian Chen, the chairman of real estate development firm Cheung Kei Group, bought the single-family home for his own use, according to reports. “It’s not for speculation,” Chen told the South China Post last year. “You can hardly make any profit from properties like this.” Chen claimed his previous home, a 5,154-square-foot property at the Opus Hong Kong, was too “tiny” for him and his family.

2. Taohuayuan (Utopia or Peace Blossom Land)
Location: Suzhou China
Type: Spec home
Price: $154 million

This 1,663-acre estate set a record as the most expensive home ever sold in mainland China, according to reports. Sitting on a private island on the south shore of Suzhou’s Dushu Lake, the home has 32 bedrooms, a wine cellar, a lakeside swimming pool and gardens modeled on a UNESCO World Heritage Site, according to Business Insider.

3. Headland Road Estate
Location: Stanley, Hong Kong
Type: Single-family home
Price: $131 million

4. Kensington Palace Gardens
Location London
Type: Single-family home
Price: $119 million

5. Mount Nicholson Residences
Location: The Peak, Hong Kong
Type: Single-family Home
Price: $117 million

Last year, two separate units sold in Wharf Holdings and Nan Fung Group’s Mount Nicholson project for a combined $117.5 million. The luxury project is being developed in three phases, and includes 19 houses and 48 apartments, according to the South China Post.

$100M-plus Publicly Reported Residential Sales Worldwide in 2016 (Credit: Christie’s, click to enlarge)

6. Lily Pond Lane Estate
Location: East Hampton
Type: Three separate lots
Price: $110 million

Spread across nearly 6.5 acres, these three separate properties at 93, 97, 101 Lily Pond Lane have 284 feet of oceanfront, and a 4,500-square-foot, five-bedroom home. Scott Bommer, the founder of SAB Capital, paid $93.9 million for the set in 2014. Records show he sold them for $110 million to natural gas billionaire Matthew Smith in February 2016. The price is the second-highest ever paid in the Hamptons, and one of the highest ever paid for a residential property in United States.

7. House at Mount Nicholson
Location: The Peak, Hong Kong
Type: Single-family Home
Price: $107 million

This house at the Mount Nicholson development reportedly sold in just three hours in February 2016. The home has five bedrooms across 9,455 square feet and features a swimming pool, garden, elevator and views of Hong Kong and Victoria Harbor. The $106.9 million sale was 25 percent less than what some analysts had predicted, according to a Bloomberg report from the time.

8. The Playboy Mansion
Location: Holmby Hills, California
Type: Single-family home
Price: $105 million

Despite rumors he was backing out of the deal, Twinkie heir Daren Metropoulos bought the Playboy mansion for $105 million in August last year. Metropoulos plans to fully renovate the home 20,000-square-foot home.

9. Belgravia Residence
Location: Belgravia, London
Type: Single-family home
Price: $102 million

10. Mon Reve
Location: Holmby Hills
Type: Single-family home
Price: $100 million

Tom Gores, the CEO of Platinum Equity and Detroit Pistons owner, paid $100 million for this spec home built on the grounds of Barbara Streisand’s former estate. The property hit the market in 2015, asking $150 million. It spans a total of 2.2 acres and includes a 38,000-square-foot main house that features 10 bedrooms and 20 bathrooms and several guest houses. The master suite is 5,300 square feet in size, which is twice the size of an average American home.