For immediate release
MARK A. FULLER
Ranks as Year’s Top US Home
$125 million world and $70 million US home sale records still unbroken
January, 2006 –
Topping the year’s list of most expensive luxury homes sold in the US was a 63-acre estate with a 10,000 sq. ft. mansion just five miles from Manhattan in Alpine, NJ. Advanced Photonix CEO Richard Kurtz bought the English-style residence with guest cottages, pool and tennis courts from Henry Clay Frick II for $58 million, a price substantially below last year’s record-setting $70 million sale of financier Ron Perelman’s Palm Beach Oceanfront estate.
Neither sale comes close to the standing world record, a $125 million London mansion sold in 2004 to steel magnate Lakshmi Mittal, who ranked number five on this year’s Forbes list of billionaires, with an estimated net worth of $23.5 billion.
“Strong corporate profits, good news on Wall Street, and a global commodities boom helped grow fortunes and sparked a surge of demand for trophy homes in 2006,” said Mark A. Fuller, Realtor – Keller Williams Realty. “Final numbers aren’t in, but estimates are that the
Fortunes did grow in 2006 as demonstrated by the 18% growth in the number of the world’s billionaires, a list which now includes 793 names. At least five current sellers of luxury homes are hoping these uber-rich billionaires will step up to pay $100 million or more for homes in 2007. The priciest home for sale in the world --
Rounding out the list of $100 million dollar plus homes currently on the market, a Saudi Prince’s
“Fabulous homes are just one example of the luxury goods and services which are in demand,” said Fuller, one of