Most Expensive Real Estate Developments in the U.S.
Individuals who are looking for a nice home in a nice neighborhood are very familiar with the change in the landscape of American real estate. Developers are now investing massive quantities of money into properties that are high-end, luxury homes. If you’re a middle-class individual looking for a new home in a good part of town, then you’ll likely end up walking through several homes that are parts of a development. And if your price tag is in the upper six to seven figures, then you’ll find that the most incredible developments are ready to handle your needs. In this article, take a look at the most expensive real estate developments in the country.
Luxury Penthouses in New York City
Ads in the New York Times Magazine continuously boast about the most expensive real estate developments in Manhattan. It’s now possible to have your own private penthouse directly overlooking Central Park, right in the center of the most powerful city in the world.
The One57 Tower is an example of ultra-luxury real estate development. The signature penthouse of this property, which has more than 10,000 square feet and occupies the 89th and 90th floor of this building, was sold for $90 million. The tower is still under construction, and 50 percent of the real estate of the building is unclaimed, so if you have the cash (or stocks, or mutual funds, or oil fields…) then it’s not too late!
Sea-Side Resort-Style Living in Malibu
If you enjoy beach-side living next to the second-largest city in the United States, then you might want to consider real estate developments in Malibu. Just north of Los Angeles, Malibu is a city where many celebrities and other A-listers can be found. Of course, the property matches the status with a hefty price tag. The average home in Malibu has a price tag of $2.15 million. That same home in Cleveland, Ohio? Just $63,000.
Turn Millions into More Millions in Florida
Donald Trump knows a thing or two about expensive luxury real estate developments. The Donald purchased a home from a bankruptcy court in Palm Beach, Florida, for around $41 million in 2004. His selling price in 2008? $95 million. Not a bad return on investment, but then again, Mr. Trump is known to make millions turn into more millions with high-end real estate developments.