OUR EXCLUSIVE GUIDE TO THE MOST EXPENSIVE HOMES FOR SALE IN AMERICA

This is the 15th year the editors of Unique Homes have published Ultimate Homes. Our comprehensive list of every property for sale in the U.S. for at least $25 million starts on page 52 of our recent Ultimate edition, and remains the only of its kind. Below, you will find a list of the top 10 most expensive properties featured on this year’s list — starting with a $500 million estate in Bel Air, California and ending with a $135 million property in Manalapan, Florida.

$150 million
Billionaire
Bel Air, California

$135 million
La Follia
Palm Beach, Florida

Featured photo courtesy of Tyler Hogan

A glimpse at some of the finest Presidential Suites in the world reveals that some of the amenities in just one of them include: Cantilevered glass balconies, a breathtaking library with a 26-foot cathedral ceiling, a Bösendorfer baby grand piano, lacquered walls with inlaid mother-of-pearl detailing, world-class art and a master bath clad in rare Chinese onyx.

Photos courtesy of The Greenbriar

The Presidential Suite is located in a wing called The Windsor Club at The Greenbrier, and currently commands $25,000 per night. A sweeping staircase leads from the entertainment areas on the ground floor to seven bedrooms (all with en suite bathrooms) above. An additional 18 bedrooms for guests or staff are available upon request. Originally decorated by legendary interior designer Dorothy Draper, the Presidential Suite still features her signature style of American Baroque furniture and vibrant hand-painted wallpaper.

According to Dr. Robert S. Conte, the resort’s official historian and author of The History of The Greenbrier—America’s Resort, the suite was created in 1947 when the property was converted back to a hotel after serving as a U.S. Army hospital during World War II. “It’s at the end of a long corridor, which provides a sense of privacy and has a dedicated concierge,” reports Conte.

Of the 27 presidents who have stayed at The Greenbrier, only Eisenhower actually slept in the Presidential Suite, as other suites offer more manageable spaces. But its occupants have included Indian Prime Minister Nehru, as well as the Duke and Duchess of Windsor. The 5,500-squre-foot suite is ideal for corporate entertaining, and one family has made a tradition of booking it every Christmas for 25 years.

On the 51st floor of the I.M. Pei-designed Four Seasons Hotel in Midtown Manhattan are a pair of beautifully appointed 1,350-square-foot “Presidential Suites” with stunning views of the New York skyline and neighboring Central Park. But heads of state, royalty or big-name celebrities may prefer to ascend to the Ty Warner Penthouse, a 4,300-square-foot suite with 360-degree views and extraordinary appointments. The Four Seasons reports the showcase suite, a collaboration of Pei, hotel owner Ty Warner and iconoclastic architect/interior designer Peter Marino, is the product of a $50 million investment.

The Ty Warner Penthouse features the four highest cantilevered glass balconies in the world, perched over one of New York’s most prestigious and strategic addresses. A breathtaking library offers a 26-foot cathedral ceiling, floor-to-ceiling bronze bookcases from French sculptor Claude Lalanne and a Bösendorfer baby grand piano. Lacquered walls with inlaid mother-of-pearl detailing, world-class art and a master bath clad in rare Chinese onyx contribute to the architectural drama, while service perks include a 24-hour dedicated guest manager and Rolls Royce with driver at the ready. The nightly rate for this opulence is about $60,000, arguably a bit pricy for a public servant.

Photos courtesy of Caesar’s Hotel and Bel Air Hotel

Photos courtesy of Caesar’s Palace

When President Obama and family stayed at Caesar’s, they occupied the Cleopatra Villa and the adjoining Mark Antony Villa, totaling 20,000 square feet of lavish, marble-clad space with a glass-covered atrium, six bedrooms and an oversized outdoor spa. “Now that I’m president, they upgraded me,” Obama reportedly joked during his 2009 stay, acknowledging the over-the-top accommodations. The two combined suites, priced from $33,000 per night and favored by platinum record pop stars, royal families and tech tycoons — are accessed by secure private elevator and served by a dedicated butler 24 hours a day.

The Venetian, Las Vegas’ luxury Italianate hotel, offers not one but four Presidential Suites that combine understated elegance with a little glitz, consistent with a property that values artistic expression. Each suite’s 5,200 square feet of living space includes grand marble foyers, lavish dining rooms and a pair of bedrooms with elegant amenities. Naturally, the occupants have access to any of the hotel’s acclaimed chefs and can relax over a game of billiards in a stately game room. Hotel representatives report the Chairman Suites at The Venetian’s adjoining sister property, The Palazzo, are larger, flashier and even more befitting the highest of rollers.

Clearly, Washington, D.C. knows how to accommodate diplomats, prime ministers and sultans, with suites pre-approved by the Secret Service. The Presidential Suite at the Mandarin Oriental, which has nightly rates starting at $15,000, offers spectacular views of the nation’s capital and traditional yet exquisite décor. A hexagonal living room with vaulted ceiling and crystal chandelier adds to the ease of entertaining in this 3,500-square-foot suite, where stunning spa-like contemporary bathrooms — the master features a two-person glass shower — adjoin spacious sleeping quarters.

Hotel manager Marie-Elise Lallemand insists the Mandarin Oriental’s Presidential Suite is the only one in the District with genuinely monumental views, noting its 180-degree panorama encompasses many of the capital city’s most recognizable landmarks. In fact, a circular window in the 10-seat dining room perfectly frames a postcard-worthy vista of the Washington Monument. “With two bedrooms, two-and-a-half baths, dining room with chef’s prep area, living room, office, sitting room, and grand foyer, our Presidential Suite is truly unique,” says Lallemand, who maintains the level of service is commensurate with the presidential premises.

Sweet Suites

Hotel Bel-Air • Los Angeles • www.dorchestercollection.com

Caesar’s Palace • Las Vegas • www.caesars.com

Four Seasons • New York • www.fourseasons.com

The Greenbrier • Sulphur Springs • West Virginia • www.greenbrier.com

Mandarin Oriental • Washington, D.C. • www.mandarinoriental.com

The Palazzo • Las Vegas • www.palazzo.com

The Venetian • Las Vegas • www.venetian.com

As the numbers climb into uncharted territory, one word emerges characterizing prices and properties at the pinnacle of residential real estate. “It’s a whole new stratosphere,” says Zachery Wright, executive director, Asia Pacific & Western North America for Christie’s International Real Estate.

By Camilla McLaughlin

Not too long ago, the possibility of even a $200 million home seemed outrageous. Today the most expensive home for sale in the U.S., dubbed The One, is more than twice that amount. Also off the charts is a square footage almost double that of the White House.

When the first issue of Ultimate Homes debuted in 2005, the most expensive residential property in the U.S. was $75 million. Today, $100 million doesn’t come close to the top 10 for Ultimate. Five properties are priced at $200 million and above, and anything below $138.8 million doesn’t make the cut. More than 50 are above $60 million. “Because we’ve seen so much wealth creation, these numbers don’t frighten many in the ultra world,” says Wright.

“It’s no surprise we are seeing such stratospheric prices today, because worldwide personal wealth is the highest it has ever been. Consider that the world’s population of $10 million-plus households is growing, and fast,” says Stephanie Anton, president of Luxury Portfolio International. More than 1.6 million households claimed a net worth of more than $10 million in 2016, a 91-percent increase since 2010. “If many of the properties on today’s list had come on the market even five years ago, it’s unlikely they would have been priced where they are today,” says Wright.

For potential buyers, lifestyle often justifies cost. “People will pay any price if it’s a prudent purchase. But getting there is a real shock. It takes a little while to figure out what things are worth,” says Gary Gold, executive director of Beverly Hills brokerage Hilton & Hyland. “There are very few people out there making sucker purchases. I don’t care how rich you are, very few want to be a chump.”

For most, getting to the $100 million level is a process that usually begins with a much less costly goal. Often, Gold says, buyers start in the $20-, $30- or $40 million range and discover those homes won’t meet their requirements. “They all buy what they want, the best thing available for their needs. In one of our big sales, the people were originally looking for an $8- or $9 million home. They ended up paying $85 million.”

2018 TOP 10:

Prices might be stratospheric, but what matters is often the same as it is for luxury buyers overall. “When they buy a house, they want to feel like they made a smart purchase, whether it’s a great buy or that they beat out somebody else. They want to make an intelligent purchase,” Gold explains.

The argument most often ventured by developers and brokers to justify heady prices is a comparison to the art world. Bruce Makowsky, developer of Billionaire — which at $188 million is No. 6 on our list — takes the analogy to the next level using mega-yachts as a measure. “If these guys are willing to pay hundreds of millions for a yacht that is a depreciating asset they use for four weeks out of the year, what would they be willing to spend for a land yacht?” he hypothesized.

Rayni Williams, also with Hilton & Hyland, is part of the team listing Billionaire. She says the land yacht comparison is appropriate. New mega spec homes are a complete package, taking the idea of turnkey to a new plane by including almost everything someone could want, and then some.

Billionaire is completely furnished, staffed and decked out with unparalleled amenities and features including more than 100 curated art installations, two stocked wine cellars, and a $30 million collection of cars in a custom display gallery along with a helicopter pad and one of very few residential theaters outfitted with Dolby Atmos.

“Spec homes are no longer developed with the intention of appealing to an entire market. With a specific luxury buyer in mind, developers are taking custom building to new heights with over-the-top features — and they’re in demand,” explains Jeff Hyland, president of Hilton & Hyland.

When owners of these homes come to Los Angeles, Williams says, “They want the ultimate entertaining home. They want to have parties for families and children alike. They want to have enough of the stage setting where they can have live bands…. They want that kind of space. They want a spa. If they want Botox, they don’t want to go to Beverly Hills to their doctor, they want their doctor to come to them.”

Days before this article went to press, a compound on Carbon Beach in Malibu sold for $110 million, setting a record for L.A. residential properties. The property wasn’t on the market — officially or unofficially — which in the ultra-world is not unusual. “When you have a highly qualified buyer, you tend to knock on doors, whether the house is for sale or not,” says Joyce Rey, executive director Coldwell Banker Global Luxury, whose sales over the years have established price benchmarks for the L.A. market. She says this recent sale is “a good indication of the strength of the luxury market in L.A.”

Another descriptor frequently applied to ultra prices is aspirational. Even though these properties do sell, eventual prices are often substantially less than the initial offering. Still, they set new benchmarks. In recent years, transactions shattering price thresholds include a $147 million East Hampton estate and Copper Beech, a $120 million waterfront property in Greenwich that sold in 2014. In L.A., the $100 million threshold was breached in 2016 with the sale of the former Playboy mansion.

“The sky is the limit. Once we hit the $100 million mark, we broke the glass ceiling — and we’re seeing home buyers comfortable with spending more than that,” says Rick Hilton, chairman and cofounder of Hilton & Hyland.

Continuing this year is a subtle geographic tilt toward California and Los Angeles. “People are showing a willingness to spend in the West. We’ve certainly got global wealth in New York. I think we’ve got a stronger market right now than they do in New York. Anyone who is making a lifestyle decision is going to be looking at Southern California,” says Wright.

Ultra properties built on speculation get the most media attention (who can resist writing about a candy wall or jellyfish room, one of the amenities of The One), but what sells depends on availability and the mix of buyers at a given time. “There happens to be a lot of spec homes out there at the moment. People are building these amazing houses, so they happen to be available. And they’re trading. These houses weren’t available in 2016 to the same degree,” says Gold.

In New York City, dynamic views are part of the value equation for ultra properties. This year, only one Manhattan property finds a place among the top. Occupying four floors in the Robert Stern-designed 220 Central Park South, the residence easily could be considered the Ultimate penthouse. The $250 million price is a record for Manhattan and few other residences have been as large.

Property sizes range from just over an acre to 65,000 acres on Mesa Vista ranch in the northeast corner of the Texas panhandles. Like many Ultimate properties over the years, this ranch has been a labor of love, husbanded over most of a lifetime. “When I began assembling the ranch 46 years ago, I initiated a multi-decade program to help the land heal and over time invested millions on wildlife management,” explains owner T. Boone Pickens. Improvements also included 20 lakes over the course of 20 miles. In addition to a 12,000-square-foot main lodge, the property includes a 33,000-square-foot lodge and several other houses, plus housing for staff. The chapel, a site for both weddings and funerals, is stunning, and a 6,000-foot runway and hangar facilitate getting there. The ranch is priced at $250 million and, according to Pickens, much of the proceeds from the sale will be directed to his foundation. The property is offered jointly by Hall and Hall, and Chas. S. Middleton and Son.

A 60-acre estate in Bridgehampton, once placed at the top of the first Ultimate list, and one-of-a-kind properties continue to be a Hamptons’ hallmark. In 2014, an 18-acre property in East Hampton sold for $147 million, setting a record for the U.S. Many of these properties offer what many consider an idyllic mix — classic estate homes and a substantial amount of land, including frontage on the ocean or a pond and the provenance. The setting for Meadow Lane in Southampton, listed by Harald Grant with Sotheby’s International, is considered a trophy location. It offers 360-degree views and extensive frontage on the Atlantic across three lots, as well as an additional bay-front lot.

Commissioned and owned by the Ford family, Jule Pond offers the largest ocean frontage in the Hamptons with nearly a quarter of a mile on the water. Listed at $175 million, it is the most expensive property for sale in the Hamptons and No. 7 on our list. A complete renovation in 2008 preserved many original features, including molded ceilings with traditional chandeliers, Italian marble fireplaces, French parquet floors and antique bathroom fixtures.

Referring to the mix of the top 10, Rey says, “I think it speaks to a variety of interests. Some people are attracted to land. Some people are attracted to architecture. Some are attracted to views.”

As always, the question hovering over the market remains what will sell next and what will be the next stratospheric price?

. . .

Where are they now? 
A look at what happened to the top of last year’s Ultimate Homes list.

New penthouse located in the Nine on the Hudson development in the Port Imperial neighborhood of West New York, New Jersey showcases Alexander Hovnanian’s inspiration from a variety of developers and architects.

By Brielle Bryan

K. Hovnanian at Port Imperial Urban Renewal VI, LLC has introduced its $8 million dollar penthouse at its Nine on the Hudson development, which consists of beautiful new luxury condos and is located in the Port Imperial neighborhood of West New York, New Jersey, which is just north of Jersey City and Hoboken. Nine has spacious floorplans with views of New York City and five-star amenities.
The penthouse showcases Alexander Hovnanian’s inspiration from a variety of developers and architects that he admires. Nine pushes the envelope with the penthouse’s design by creating a zen oasis, inspired by Japanese design and Dutch aesthetics — a design incomparable to other penthouses in New Jersey or New York City.
The one-of-a-kind dining room, inspired by a hibachi concept, was designed to bring people closer together in a less than typical arrangement. The minimalistic designed kitchen has a greenhouse. The penthouse also has a private zen garden and a dedicated tatami room. A floating staircase graces the foyer, and leads up to a modern-glass cube on the penthouse’s expansive private terrace.

Photos courtesy of VDP