Feb 21 2008
And you thought Malibu real estate was expensive?
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If you thought Malibu real estate prices were sky high how about a 18000 Sq. Ft. town house on the Upper East Side for $64 million! The pricey abode has 30 rooms, 15 bedrooms, 17 bathrooms, 17-foot ceilings, and a rooftop garden with grand views. If it sells it will break the previous record high sales price set by the sale of the $53 million dollar Harkness Mansion on East 75th Street. Malibu’s highest price listing comes in at $75 million. The recent sale of a Carbon Beach home in the $55 million dollar range sets a new beach-side sales record.There are two large projects being built now that could turn in to Malibu’s first $100 million dollar listings if the gilded age continues. New York real estate companies are claiming that they haven’t seen this kind of sales frenzy since the dot-com days of 2000. The number of apartments the sold above $10 million have more than tripled since 2006. What could this mean for Malibu? Well my guess is that if you can afford a Manhattan condo for $10 million, then a Malibu Road beach house for the same price might be pretty tempting, especially during a 70 degree California “winter”.
