By some measures, all home prices reached record highs in 2024.
It’s not just more affordably priced homes that have gotten more expensive: Luxury real estate has also boomed this year.
The price of luxury homes — defined as those with a market value in the top 5% for their area — rose nearly 9% year-over-year as of the second quarter of 2024, according to the most recent data available from real-estate site Redfin. That jump was twice as fast as the increase for non-luxury homes, Redfin found.
Here’s a look at five of the most expensive homes sold across the US this year.
A $210 million Malibu mansion broke California’s record for priciest property ever sold
In June, Oakley sunglasses founder James Jannard sold his Malibu mansion for $210 million.
It edged out Beyoncé and Jay-Z’s $200 million compound, also in Malibu, to break the record for the most expensive home ever sold in California.
Jannard bought the estate 12 years ago for $75 million, but the new owner’s name is shrouded behind an anonymous LLC, the Los Angeles Times reported.
The mansion has eight bedrooms, 14 bathrooms, and a tennis court spread over 9.5 acres and was pared down by previous owners who found the original main home “too grandiose,” according to San Francisco outlet SFGate.
Its renovation was handled by Michael S. Smith, who also redesigned the White House’s Oval Office for then-President Barack Obama in 2010.
A home on Palm Beach’s only private island sold for $152 million
In May, a 28,600-square-foot home on Tarpon Island in Palm Beach, Florida, sold for $152 million, a real-estate agent behind the sale confirmed to Business Insider.
The property — situated on Palm Beach’s only private island — includes two private decks, multiple pools, a wine room, a waterfront gym, a tennis court, and a wellness facility complete with a massage room and a nail salon, according to Mansion Global.
The home’s buyer was Australian investor Michael Dorrell, who founded infrastructure investment firm Stonepeak Partners and formerly served as a senior managing director at Blackstone, The Wall Street Journal first reported, citing people familiar with the deal.
Another Palm Beach home sold for $148 million to a collector of trophy properties
A nearly 23,000-square-foot house with 225 feet fronting the Atlantic Ocean in Palm Beach sold for $148 million to billionaire investor Daren Metropoulos earlier this year, Mansion Global reported.
Metropoulos — a principal at private-equity firm Metropoulos & Co. and former co-CEO of Pabst Brewing Company — is a collector of trophy properties. He purchased the former Playboy Mansion in Holmby Hills, California, in 2016 for $100 million, according to The New York Times.
The landmarked Mediterranean Revival-style house in Palm Beach, designed by architect Addison Mizner in 1919, is called Casa Amado and sits on 3.2 acres, according to Mansion Global.
A $135 million penthouse was New York City’s most expensive sale of the year
Real-estate developer Vlad Doronin‘s highest-profile project of late is the hotel and condos at Aman New York, located in the landmarked Beaux-Arts-style Crown Building on Fifth Avenue in Manhattan.
Doronin himself purchased a five-story penthouse in the building this year for $135 million, Bloomberg reported.
The penthouse is one of just 22 residences above the hotel, which has more than 80 rooms, according to Bloomberg.
The home, which fetched more than $10,000 per square foot, was sold as an unfinished space that the owner can build out, Bloomberg reported, citing a spokesperson for developer OKO Group.
Doronin, who the Wall Street Journal called a “Russian James Bond” earlier this year, founded OKO Group and serves as Aman’s owner, chairman, and CEO.
An Aspen home with 11 bedrooms broke a Colorado record
Former casino tycoon Steve Wynn partnered with billionaire financier Thomas Peterffy to purchase Colorado’s most expensive home ever sold, The Wall Street Journal reported.
Looking out over Aspen at the base of Red Mountain, the 22,405-square-foot mansion — which includes 11 bedrooms, 17 bathrooms, an outdoor pool, and a guest house — sold to the pair in April for $108 million, The Denver Post reported.
Aspen’s first nine-figure sale elevates it to the ranks of other places that have hit that milestone: New York, Los Angeles, and Palm Beach, according to the Journal.
The post 5 of the most expensive homes sold in the US this year, from a private island in Florida to a mansion in Malibu appeared first on Business Insider.
