For the rich and famous $50 million seems just about the right price to own their cherished home sweet home. For them spas, state of the art kitchens, bathrooms, pool houses and the likes are not enough to satiate their desire for extravagance.
The properties at the $50 million price point seem right out of a dream! They boast of cross- country ski courses, trout fishing ponds, bocce ball courts, swan equipped ponds and acres of impeccably manicured lawns. You name it and it’s quite likely that it will be a feature of these dream homes.
Having great profit margins at such high price levels, these mansions invariably see price cuts of 20-30%, if the property doesn’t fetch a buyer for long. Such drastic price deductions not only arouse the interest of potential but it also gives the actual buyers a feeling of making a good bargain. Bootjack Ranch in Colorado was devalued from an eye popping $88 million to a more reasonable sounding $68 million.
So what makes a property more desirable than the other? Well, as Conrad Hilton had said, it’s all about location, location, location. Properties of this echelon are set in exclusive locations like a landmark street or overseeing a picturesque landscape preferably natural.
Here are the prices of some of these plush houses:
- Harkness Mansion, New York, Upper East Side ($53 million)
- Bootjack Ranch, Colorado ($68 million)
- Dunnellen Hall ($50+ million)
- The Greenwich ($50+ million)
- Conn. Estate of� late Leona Helmsley ($60 million)
- Bay Area Mansion ($48 million)
- Duke Semans Mansion ($40million)
- Frick Mansion ($57 million)