10 Biggest Luxury Beach Real Estate Sales since October 2021
Luxury home buyers have a soft spot for the beach. It is predicted that Florida’s house values have grown by up to 30% in the time since the fall of 2021, a ‘wait out’ point for an increasingly wealthy populace seeking to escape a pandemic in the mainland United States. Palm Seashore has seen a recent spike in the cost of real estate, with demand showing no sign of slowing down. The pandemic, while long-lasting and severe, did not bring down the city’s property value as one might have hoped. As of March 2021, Palm Seashore has four homes that have each been sold for over 90 million dollars.
Certain information about sales from this list is kept privy, but it’s noted that a number of the greatest beach sales of the year were made by well-known celebrities (Ellen DeGeneres, developer Todd Michael Glaser) and names with a lot of money behind them you likely don’t know. The majority of sales on this buy checklist have been in Palm Seashore, however different main hotspots for luxurious shopping embrace a number of the traditional locations that come up year after year, similar to Miami, the Hamptons, and Montecito, California. So if you want to know more about these luxury beach real estates, then this blog is for you.
For today’s blog, exclusive for our Real Estate Heaven members, we will be talking about the top ten biggest luxurious beach real estate sales starting in October 2021. Palm Beach experienced a bump in luxury real estate after the pandemic, due to its relaxed atmosphere and easygoing lifestyle. Four of the top 10 biggest beach property transactions were for Palm Beach or another southern Florida location, including Naples and Golden Beach. The Hamptons was not just the most expensive place to live in 2018 due to the cost of housing. The wealthiest beach enclave on Long Island had three of the top 10 deals with luxury properties. The following list also reflects a recent buyer preference for brand new homes or land on which to create a blank slate and construct something new.
Last year, the most expensive properties were found in Malibu, Palm Beach, and the Hamptons. Apartments in New York also made it in the top 10. The wealthy property buyers weren’t simply attracted by a flashy location or large space, they wanted to get away from a hectic lifestyle which had its limits. Purchasers of these homes were offered luxurious amenities, such as retina scanners for access to the master bedroom and a funicular leading to the beach. For the fifth consecutive year, Brooklyn Nets owner Joe Tsai and Oracle cofounder Larry Ellison were among the most acquisitive when it came to trophy homes.
Tsai elbowed Ellison out of the top dozen and his purchase of a Palm Beach mansion for 80 million dollars only fell just short of the biggest sales last year. Meanwhile, December saw the close of a 200 million dollar purchase of a 340,000-acre Montana spread by media tycoon Rupert Murdoch. The seller was Matador Cattle Co., a subsidiary of Koch Industries, headed by billionaire Charles Koch. That property is not included in this tally because it is technically a commercial concern and the closing price cannot be confirmed. There were some expensive properties outside the US last year.
For example, some of the most expensive transactions in Australia and Hong Kong happened at the same time they experienced lockdown conditions (time where they had to stay there with little to no visits). The most expensive transaction in Hong Kong was two units that were sold in Mount Nicholson for 150 million Australian dollars. At AUD 60 million, or about 42.5 million dollars, the reported sale of the Boyd Penthouse atop the ANZ building in Sydney’s Financial District was Australia’s highest transaction of 2021. With that here are the top 10 beach deals completed since October 2021. They are ordered in terms of popularity, according to an article found at news sources, databases, and previous reporting.
On our top ten is the 8 and 10 Tyson Lane. Designer and artist Helmut Lang sold his oceanfront Hamptons property in separate parcels to his neighbors for a total of 70 million dollars. John B. Hess and Howard Marks both purchased the same amount of land that they did two years ago. This time around Hess paid about 30 million dollars for 1.1 acres of the property while Lang’s other neighbor, investor Howard Marks, paid about 40 million dollars for about 1.6 acres. John Lang originally purchased the 3.5-acre property in 1999 for 15.5 million dollars. It includes the main house, swimming pool, guest house, garage and an artist’s studio. Lang had a deal, but the deal was done off-market, and terms included that Lang was allowed to stay in his home for two more years.
Coming next is the 840 Meadow Lane. This Southampton residence on Meadow Lane fetched a 70 million dollars sale, led by 75 million dollars price tag agent Tim Davis. The property was originally listed in June with an eight-acre land that was home to the family since the 1920s. The Wall Street Journal reported the 22,000 sq ft Tudor style home has 500 ft of beach frontage and was built on a sand dune in a time where that would’ve been impossible to do it. Despite this, the buyer who was unidentified had intended to conduct 25 million dollars renovations as of November- about 6 months after switching ownership. The property’s seller was a limited liability company affiliated with Julia Vance Carter, a Hamptons attorney who died in 2014.
On our top 8 is this mansion at 2858 Riviera Drive. The owner bought this 70 million dollars oceanfront mansion in Laguna Beach, which set a new record in Orange County. Hedge fund manager Joseph Edelman and his wife Susan Lebovitz-Edelman purchased the approximately 1-acre estate from Abalone Point LLC. The individual seller was not identified. The 18,000 square foot home was constructed with a commercial kitchen, a screening room, a wine cellar, a pool cabana and an all glass guesthouse. It is one of only 12 homes at Abalone Point in Laguna Beach’s Irvine Cove that offer oceanfront views.
The deal, though off-market, was not entirely without drama. In May, a neighbor had filed a lawsuit against the seller claiming they had breached obligations related to the Abalone Point homeowners association, according to court documents. Upon learning of the potential sale of the property to The Edelmans the neighbor tried to use the right of first refusal to instead buy the property, but the seller did not accept the offer. Jonathon Curci and Rex McKown of Compass represented the buyer and Evan Corkett and Steve High of Villa Real Estate represented the seller.
Next up is the Lily Pond Oceanfront Estate. A businessman bought a Hamptons beachfront mansion for 84 million dollars in an effort to simplify his life. The man first listed it for 115 million dollars, but he was eventually able to sell it for 84 million dollars after others had no interest in the house. A home that sits on 11,000 square feet, 10 acres and 385 feet of ocean frontage was up for sale. The property was listed with Herald Grant from Sotheby’s International Realty. The sale came amidst Perelman’s declining net worth in recent years in tandem with factors related to the COVID-19 pandemic and his company, makeup giant Revlon, facing serious financial difficulties.
An estate sold about 86 million dollars, just nine months after it was bought for 64 million dollars. This is our top 6 luxurious beach estate in 901 N. Ocean Boulevard. The sale of an 18,000 square foot oceanfront home was handled discreetly. The trust managed by attorney Paul Krasker and linked to an accountant’s partner, Jeffrey Feinman, sold the house. An unidentified buyer negotiated with Lawrence Moens of Lawrence A. Moens Associates, who represented the seller. And an unknown party negotiated with the Kochs at The Corcoran Group, who represented the buyer. Some features of the house include a pool, wine cellar, gym, and media room. The guest house is also featured on this property. Real estate developer and spec house builder Clark Beatty, finished converting a property in late 2021, then listed it at 84 million dollars before lowering the price. In the end, he sold the property to Beachgreen LLC for 64 million dollars in August 2021.
On our fifth spot is a 90 million dollars off-market deal on a new home in Manalapan, Florida. They are unsure of the builder or square feet but it is about two acres. Paul Saunders, the owner of the James River Capital Corporation, and his wife Victoria Saunders bought a vacant lot for 14.5 million dollars in 2018. The Douglas Elliman real estate agent Senada Adzem sold the home to the anonymous buyer. They were represented by Douglas Elliman real estate agents Chris Leavitt and Ashley McIntosh. The 16,000 square foot home is designed by the Benedict Bullock Group and contains five bedroom suites, a golf simulator room, and an outdoor kitchen and pool. It has 200 feet of direct ocean frontage.
AI-driven technology company started by Phillip Ragon, Tech company InterSystems, bought 3 properties for 93 million dollars in Golden Beach, Florida. One of the properties was named “The Golden Gate.” Danny Hertzberg and Jon Mann of the Jills Zeder Group at Coldwell Banker Realty believe that Ragon has plans to demolish the small homes located on just under two acres with 275 feet of ocean frontage, and construct one single-family home on the combined properties. Five separate sellers were involved in the transaction, and more than two agents collaborated with Hertzberg and Mann. Pablo Alfaro, Eloy Carmenate, and Mick Duchon worked with Hertzberg and Mann on this deal. The most expensive home previously sold in Miami-Dade County was a home on Star Island that went to billionaire Ken Griffin for 75 million dollars.
Up next is the 100 million dollars luxury real estate in Great Island. In order to sell Great Island, Jennifer Leahy, who is from Darien, Connecticut managed to broker a deal with the town for 100 million dollars. The property was unsuccessfully put on the market in 2016 and 2018, and finally went into contract in late May 2022. William Ziegler built a Gilded Age mansion, colonial farmhouse, and equestrian building on the 60-acre property. He was an entrepreneur that is famous for his baking powder. The arched tiles in one of the buildings are designed by Rafael Guastavino, who also designed Grand Central Terminal.
In an encore appearance, one of the Palm Beach properties that made Inman’s most recent top beach deals last year has made an appearance once again here in our list. Our top two luxury real estate properties are located in the 2000 S. Ocean Boulevard. Billionaire internet entrepreneur Jim Clark purchased a property with sweeping 15-acre views, hosting the Ziff family estate and manor. The purchaser sold the property in mid-June for 173 million dollars, profiting from 79 million dollars within two months.
Lawrence Moens of Lawrence A. Moens Associates represented both sides of the deal. Clark says he and his wife, Kristy, had been talking about transitioning into living in Florida more often when they saw the 1,200-foot ocean frontage property. It was a “spontaneous purchase” at the time. But as 2021 became 2022, the couple decided to stay in New York and remembered there had been another interested buyer at the time they purchased the property. The buyer? Oracle CEO Larry Ellison.
And coming first in our list is this luxurious real estate located at 27740 Pacific Coast Highway. The biggest deal since October has been made by Serge Azria and Marc Andreessen. The seven-acre Malibu property belonging to the fashion mogul has been sold for 177 million dollars, making it a new record in the Los Angeles market. Kurt Rappaport from Westside Estate Agency represented both sides of the deal. The undeveloped property, nestled in Malibu’s coast between Paradise Cove and Escondido Beach, was renovated by Azria and his wife Florence over four years.
They have been shopping it around off-market since late 2020, originally asking 218 million dollars. The property you are looking at is priced well below what it used to be and has set new records. The sales price broke the previous U.S. prices, which was set by Jeff Bezos of Amazon in the year 2020. With a decrease in luxury housing inventory and increased buyer demand, the high-end real estate market saw prices hit a record in 2021. Sales across America surpassed the 100 million dollars mark in certain cases. As the pandemic continued, ultra-wealthy people looked for residences in other countries as a place to stay if they got too close to the catastrophe. These people would spend a lot of money on their second or third homes in order to make themselves more comfortable while they were away from home.
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