Super-luxury homes that cost $100m

Palm Beach, October 3:

Donald Trump’s property for sale here has all the big-time extras one might expect. Pricey marble and 24-karat gold fixtures decorate bathrooms. There’s a gargantuan fountain in the driveway and 142 metres of oceanfront out back.

Perhaps the biggest thing about the home, however, is its price tag: $125 million. And that price has already been trumped. A home in Aspen, Colorado, is now listed at $135 million. Another home in Lake Tahoe, Nevada, was recently listed at a flat $100 million.

The listings represent a monetary milestone in American real estate: the first time US homes have broken into a whopping nine figures, according to real estate experts, and they’ve done so in quick succession. A May survey of the nation’s most expensive homes by put Trump’s home at the most expensive and the first to break the $100 million mark. At the time, the next highest listing was a $75 million estate in Bridgehampton, New York.

Now, the trio has market followers wondering: Will they sell? And what do you really get for $100 million? “I’m surprised it took so long for people to realise value,” Trump said of the listings. “I’m the one that did it, started the trend, and I’m surprised that people haven’t done it sooner.” Usually the top 10 per cent of any marketplace is considered the luxury market, but these properties are a tier above. “They’re super luxury properties,” said Trump, the real estate mogul and reality TV star.

Shari Chase, whose company Chase International has the Lake Tahoe listing, acknowledged the shock value of the recent prices. “This is stratospheric for offering prices, but I think we’re going in that direction,” Chase said. “I think these three properties, they are really the Super Bowl of real estate.”

The word ‘high-end’ is too common a term to apply to the properties, she said. And the listings are extreme. At these prices, bedrooms and bathrooms are almost irrelevant. The homes, like their price tags, are gigantic.

At the Aspen property, owned by Saudi Prince Bandar, the main residence, finished in 1990, has over 5,040 sq meters. Need more space? The recently listed Lake Tahoe home, owned by Tommy Hilfiger Corp co-founder Joel Horowitz, comes with 3,420 sq metres of livable space on 84 hectares.