Despite inflation and a general economic downturn in 2022, seven properties still crossed the $100million line as the mega-mansions sold for a big ticket.
That number is still down from the eight deals of nine figures or higher in 2021, while there were 44 sales of over $50million in 2022, down from 48 the year prior.
The 44 sales of over $50million are still the second-highest ever recorded in the United States. In 2019, for example, only 23 properties went for that much cash.
Miller Samuel’s Jonathan Miller said that the biggest deals were done in three of the country’s biggest states: New York, California and Florida, with Oracle co-founder Larry Ellison buying the most expensive property, called ‘The Gemini Estate’ running him $173million for a North Palm Beach estate.
Oracle co-founder Larry Ellison bought the most expensive property of the seven that sold for over $100million in 2022, running him $173million for a North Palm Beach estate
Ellison bought the 16-acre estate from Netscape co-founder Jim Clark, who flipped it after buying it for just $94.2million the year before, according to the Wall Street Journal.
The building, located on a barrier island in Manalapan, features 1,200 feet of ocean frontage and 1,300 feet of waterway, along with a 62,200-square foot main residence and a seven-bedroom guest house.
The two sections of the 12-bedroom main house — one facing the lake and the other, the ocean — are linked by a series of tunnels beneath the street. A 15-foot-wide tunnel serves as an art gallery.
The deal for the property, which features tunnels connecting the main residence and guest houses, was done by Lawrence A. Moens Associates.
As of November 2022, he was listed by Bloomberg Billionaires Index as the seventh-wealthiest person in the world, with a net worth of over $100billion.
In a somewhat distant second place is Richard Saghian’s property in Beverly Hills, which went for $126million at auction.
Saghian, the CEO of fast-fashion company Fashion Nova, was purchased in March for much less the hoped for listing of half a billion by previous owner Nile Niami.
For a mere $126million, Saghian now owns the 105,000 square foot property, which features a 30-car garage, 20 bedrooms, five swimming pools and a bowling alley.
The estate is simply known as ‘The One’ and was auctioned off by Sotheby’s.
Snap CEO and co-founder Evan Spiegel bought the third property to hit nine figures, spending $119million on an estate in Los Angeles’ Holmby Hills.
Ellison bought the 16-acre estate from Netscape co-founder Jim Clark
Clark flipped the Gemini Estate after buying it for just $94.2million the year before
The building, located on a barrier island in Manalapan, features 1,200 feet of ocean frontage and 1,300 feet of waterway
The Gemini Estate also comes with a 62,200-square foot main residence and a seven-bedroom guest house
Larry Ellison, seen here at a gala in 2019, is the co-founder of Oracle
In a somewhat distant second place is Richard Saghian’s property in Beverly Hills, which went for $126million at auction
Saghian, the CEO of fast-fashion company Fashion Nova, was purchased in March for much less the hoped for listing of half a billion by previous owner Nile Niami
For a mere $126million, Saghian now owns the 105,000 square foot futuristic-looking property
The estate in Beverly Hills features a 30-car garage, 20 bedrooms, five swimming pools and a bowling alley
Purchased in an off-market deal from developer Ian Livingstone, Spiegel’s company also bought the property next door to it in 2021 for $25million.
The estate has iron gates and a long driveway, leading up to a villa-style main house that contains an Olympic-sized indoor pool.
Other amenities include a spa, massage rooms, an outdoor pool with a waterfall, a two-story entry foyer, a formal dining room, library and screening room.
Developer Michael Karp bought a property from Arthur Rabin and his son Jason Rabin – both of whom run popular apparel companies – in New York’s infamously ritzy Hamptons at $118.5million.
Karp, who runs University City Housing Company in Philadelphia, made the most expensive purchase in the legendary Long Island hotspot.
Snap CEO and co-founder Evan Spiegel bought the third property to hit nine figures, spending $119million on an estate in Los Angeles’ Holmby Hills
Spiegel is the co-founder and CEO of Snap, seen here at a code conference in September of 2022
Developer Michael Karp bought a property from Arthur Rabin and his son Jason Rabin – both of whom run popular apparel companies – in New York’s infamously ritzy Hamptons at $118.5million
Karp, who runs University City Housing Company in Philadelphia, made the most expensive purchase in the legendary Long Island hotspot
Little is known about the estate, though a few months after he purchased, Karp listed a chunk of it for $72million that includes a 17,000-square foot house with 21 bedrooms.
Citadel founder Ken Griffin, considered a rival buyer in the market to Ellison, purchased a Miami-area estate in coconut grove for $106.875million, the priciest sale in Miami’s history.
Griffin bought the estate from philanthropist Adrienne Arsht, who fell short of the original $150million listing for the place.
The estate – known as Villa Serena – was built for former US Secretary of State William Jennings Bryan in 1913 and includes two completely separate homes.
The main residence was built to go along with the home built for Jennings Bryan in 2000, which includes room for entertaining and formal dining.
Other expensive properties were bought by InterSystems’ Phillip Ragon, who picked up three homes in Florida for $93 million; Movie producer Edward H. Hamm, Jr., who bought a Malibu estate with it’s own miniature golf course for $91million; and a mystery buyer who picked up a Palm Beach mansion for $85.977million.
Citadel founder Ken Griffin, considered a rival buyer in the market to Ellison, purchased a Miami-area estate in coconut grove for $106.875million, the priciest sale in Miami’s history
Griffin bought the estate from philanthropist Adrienne Arsht, who fell short of the original $150million listing for the place
The estate – known as Villa Serena – was built for former US Secretary of State William Jennings Bryan in 1913 and includes two completely separate homes
The main residence was built to go along with the home built for Jennings Bryan in 2000, which includes room for entertaining and formal dining
Julia Koch, the widow of late billionaire philanthropist David Koch, made Manhattan’s biggest buy in 2022, purchasing a pair of apartments for $101million.
The buildings were sold by the estate of the late Microsoft co-founder Paul Allen. It included a penthouse and a second unit on a lower floor.
Allen purchased the East 66th Street penthouse for $25million in 2011.
Media mogul and superproducer Byron Allen’s bought a blufftop property from self-storage billionaire Tammy Hughes Gustavson for $100 million even, a Malibu record.
The estate was listed for $125million and contains 11,000-square-feet and a large four-bedroom residence, as well as two guesthouses.
Julia Koch, the widow of late billionaire philanthropist David Koch, made Manhattan’s biggest buy in 2022, purchasing a pair of apartments for $101million
Billionaire media mogul Byron Allen snapped up this stunning 11,000-square-foot $100 million Malibu mansion overlooking the Pacific Ocean
Allen, one of the biggest producers in Hollywood, set a record for most expensive property ever purchased in Malibu
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