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You're right - L.A. always performs well when it comes to high end real estate
Most expensive homes sold so far in the United States in the last 3 months:
157 West 57th Street #90, New York, NY $100,471,452
834 Fifth Avenue #1112A New York, NY $77,500,000
27852 Pacific Coast Hwy Malibu, CA $60,000,000
157 West 57th Street #85 New York, NY $55,559,331
101 Lily Pond Ln, East Hampton NY $55,000,000
157 West 57th Street #84 New York, NY $52,952,000
157 West 57th Street #79 New York, NY $50,916,000
616 Nimes Rd., Los Angeles, CA 90077 $46,250,000
21 East 61st Street #Ph New York, NY $52,000,000
212 W 18th St PH 2 New York, NY $40,700,000
1163 N. Hillcrest Beverly Hills, CA Rd $35,300,000
10410 Bellagio Rd, Los Angeles, CA $38,000.000
616 Ox Pasture Rd Southampton, NY $37,000,000
127 East 70th Street New York, NY $37,000,000
215 West 88th Street New York, NY $34,930,000
9151 Oriole Way, Los Angeles, CA $32,000,000
1 Central Park West PH 51B New York, NY $33,000,000
390 Fower St Southampton, NY 32,500,000
116 East 70th Street New York, NY $31,000,000
17 Indian Creek Rd Miami, FL: $30,000,000
Updating the list, new addition from today;
157 West 57th Street #90, New York, NY $100,471,452
834 Fifth Avenue #1112A New York, NY $77,500,000 781 5th Avenue #18 New York, NY $67,500,000 27852 Pacific Coast Hwy Malibu, CA $60,000,000
157 West 57th Street #85 New York, NY $55,559,331
101 Lily Pond Ln, East Hampton NY $55,000,000
157 West 57th Street #84 New York, NY $52,952,000
157 West 57th Street #79 New York, NY $50,916,000
616 Nimes Rd., Los Angeles, CA 90077 $46,250,000
21 East 61st Street #Ph New York, NY $52,000,000
212 W 18th St PH 2 New York, NY $40,700,000
1163 N. Hillcrest Beverly Hills, CA Rd $35,300,000
10410 Bellagio Rd, Los Angeles, CA $38,000.000
616 Ox Pasture Rd Southampton, NY $37,000,000
127 East 70th Street New York, NY $37,000,000
215 West 88th Street New York, NY $34,930,000
9151 Oriole Way, Los Angeles, CA $32,000,000
1 Central Park West PH 51B New York, NY $33,000,000
390 Fower St Southampton, NY 32,500,000
116 East 70th Street New York, NY $31,000,000
17 Indian Creek Rd Miami, FL: $30,000,000
I was thinking the same thought, everyone on CD wants to be super rich.. I am just contend to be middle class and not poor or homeless. Great post man
I mean, its great to have ambitions. I have ambitions too, to become comfortable enough so my family can have a great life without me being away all the time. I'm at the age where I want to have kids and be with my future wife and kids, instead of at work all the time. I already have 100 hour weeks. This isn't fun.
But here on CD, the wealth worship is pathetic. If it doesn't drive you to better yourself, and you just brag about someone else's accomplishments as your own, that's pretty pathetic.
I think you read alittle too much into my comment... but Google inc, KKR, Kleiner Perkins, Legendary, Qualcomm, Entertainment, and many others wrote some big checks and appear to be just as intrigued.
Just as intrigued as what / whom? And I could be wrong but aren't most of those companies expansion there primarily for cheaper manufacturing?
Nope. This time around the tech boom revolves around physical products( like wireless devices and cars), real revenue earning products( social media ad revenue, data collection, etc) and so forth.
The residential and commercial markets markets are constrained due to a lack of inventory.
The Bay Area is now and has almost always been a much stronger property market than Miami. It's not even a question.
Downtown SF already kills your downtown and is still booming. Once again, no comparison.
There are more "intriguing" start ups in my Palo Alto office park than the entire Miami metro. Trust me.
Not a fan of Miami and I do agree with you but they have a point about how Miami is finally blossoming more into a "real" city with more depth in many categories once considered negligible.
Its has a VERY long way to go before it can match te Bay area.
In terms of the thread topic (luxury real estate), Miami/South Florida is well ahead of the Bay Area. In many other factors, obviously no.
Miami is a solid #3 in the U.S. in terms of luxury real estate, behind only NYC and LA.
That list is not a good measure of the luxury real estate market.
The post Montclar was more accurate.
Quote:
Housing Units Valued at $1,000,000+, 2013
San Jose-San Francisco-Oakland 255,526...15.5% of total
Miami-Ft Lauderdale-Port St Lucie 39,091.....2.8% of total
^^^To SDPMiami and his other pseudonym JR, $3M home in the Bay Area isn't "luxury" real estate and is quite mediocre. It'd be a $500K home in the Atlanta metro, for instance. However, in Miami, $3M gets you quite a lot. Maybe not waterfront on Star Island or a Penthouse, but a luxury pad, probably with a view or a gated entrance and estate sized lot elsewhere.
But that also goes against what those two posters who are really one also said about luxury real estate in Miami being so expensive on a per square foot basis. More expensive than Atlanta, sure. But in the grand scheme of things you get a lot for your money in South FL. You get a mansion for $1M. In SF, you can pay $700K for a studio that is 600 sf or less. You can easily well exceed $1M for a 1 BR. That doesn't happen with frequency, or perhaps ever at all, in South FL. The only other place it happens is in New York, or the Millennium Tower going up in Boston.
^^^To SDPMiami and his other pseudonym JR, $3M home in the Bay Area isn't "luxury" real estate and is quite mediocre. It'd be a $500K home in the Atlanta metro, for instance. However, in Miami, $3M gets you quite a lot. Maybe not waterfront on Star Island or a Penthouse, but a luxury pad, probably with a view or a gated entrance and estate sized lot elsewhere.
But that also goes against what those two posters who are really one also said about luxury real estate in Miami being so expensive on a per square foot basis. More expensive than Atlanta, sure. But in the grand scheme of things you get a lot for your money in South FL. You get a mansion for $1M. In SF, you can pay $700K for a studio that is 600 sf or less. You can easily well exceed $1M for a 1 BR. That doesn't happen with frequency, or perhaps ever at all, in South FL. The only other place it happens is in New York, or the Millennium Tower going up in Boston.
I understand that but if the average home price and the average incomes are much higher,more than likely the ultra luxury market will also be high.
SF houses at one million are luxury. Wealth is just on another scale than most cities,not that one million is not luxury.Even In California,ine million is STILL luxury even if it is more common there.
Regular houses in the Sunset were going for 1,000,000+ or slightly under before 2008 and I know of 3 in the last few months (purchased by friends) that did so it looks like that has returned. I would not call these homes luxury by any means. My friend who bought right before the crash has the oldest most awful house I have ever been in My terrible college houses in Isla Vista when I was going to UCSB were significantly nicer (and bigger).
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My terrible college houses in Isla Vista when I was going to UCSB were significantly nicer (and bigger).
