Despite inflation and a general economic downturn in 2022, seven properties still surpassed the $100 million mark when the mega mansions sold for a big ticket.
That number is still lower than 2021’s eight deals in the nine-digit range or higher, while there were 44 sales of over $50 million in 2022, compared to 48 the year before.
The 44 sales of over $50 million are still the second highest ever recorded in the United States. In 2019, for example, only 23 properties were sold for that much money.
Miller Samuel’s Jonathan Miller said the biggest deals were made in three of the country’s largest states: New York, California and Florida, with Oracle co-founder Larry Ellison buying the most expensive property called The Gemini Estate, which sold him $173 million brought in an estate in North Palm Beach.
Oracle co-founder Larry Ellison bought the most expensive of the seven properties that sold for over $100 million in 2022, earning him $173 million 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 $94.2 million 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, as well as a 62,200-square-foot main residence and seven-bedroom guesthouse.
The two parts of the 12-bedroom main house – one overlooking the lake and the other overlooking the sea – are connected by a series of tunnels under 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 completed by Lawrence A. Moens Associates.
As of November 2022, the Bloomberg Billionaires Index ranked him the seventh richest person in the world with a net worth of over $100 billion.
A distant second place is Richard Saghian’s Beverly Hills estate, which fetched $126 million at auction.
Saghian, the CEO of fast fashion company Fashion Nova, was bought by previous owner Nile Niami in March for much less than the half-billion listing it was hoping for.
For just $126 million, 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 property is known simply as “The One” and was auctioned off by Sotheby’s.
Snap CEO and co-founder Evan Spiegel bought the third property for nine figures, spending $119 million on a property in Los Angeles’ Holmby Hills.
Ellison bought the 40-acre estate from Netscape co-founder Jim Clark
Clark flipped the Gemini Estate after buying it for just $94.2 million the year before
The building, located on a barrier island in Manalapan, has 1,200 feet of ocean frontage and 1,300 feet of waterway
The Gemini Estate also features a 62,200-square-foot main residence and a seven-bedroom guest house
Larry Ellison, seen here at a gala in 2019, is a co-founder of Oracle
A distant second place is Richard Saghian’s Beverly Hills estate, which fetched $126 million at auction
Saghian, the CEO of fast fashion company Fashion Nova, was bought by previous owner Nile Niami in March for much less than the half-billion listing it was hoping for
For just $126 million, Saghian now owns the 105,000-square-foot, futuristic-looking property
The Beverly Hills property features a 30 car garage, 20 bedrooms, five swimming pools and a bowling alley
Spiegel’s company, which was acquired in an off-market deal from developer Ian Livingstone, also bought the adjacent property for $25 million in 2021.
The property features iron gates and a long driveway leading to a villa style main house which houses an indoor olympic swimming pool.
Additional amenities include a spa, massage rooms, outdoor pool with waterfall, two-story entry foyer, formal dining room, library and screening room.
Developer Michael Karp bought a $118.5 million property in New York’s notoriously posh Hamptons from Arthur Rabin and his son Jason Rabin – who both run popular clothing companies.
Karp, who runs the University City Housing Company in Philadelphia, made the most expensive purchase in Long Island’s iconic hotspot.
Snap CEO and co-founder Evan Spiegel bought the third property for nine figures, spending $119 million on a property in Los Angeles’ Holmby Hills
Spiegel is the co-founder and CEO of Snap, here at a code conference in September 2022
Developer Michael Karp bought a $118.5 million property in New York’s notoriously posh Hamptons from Arthur Rabin and his son Jason Rabin – who both run popular clothing companies
Karp, who runs the University City Housing Company in Philadelphia, made the most expensive purchase in Long Island’s iconic hotspot
Little is known about the property, although a few months after his purchase, Karp listed part of it for $72 million, which includes a 17,000-square-foot, 21-bedroom home.
Citadel founder Ken Griffin, considered in the market to be Ellison’s competing buyer, purchased a Miami-area estate in Coconut Grove for $106.875 million, the most expensive sale in Miami history.
Griffin bought the property from philanthropist Adrienne Arsht, who fell short of the site’s original listing of $150 million.
The property — known as Villa Serena — was built in 1913 for former US Secretary of State William Jennings Bryan and includes two entirely separate homes.
The main residence was built along with the house built for Jennings Bryan in 2000, providing space for entertaining and formal dining.
Other expensive properties were bought by InterSystems’ Phillip Ragon, who picked up three homes in Florida for $93 million; film producer Edward H. Hamm, Jr., who bought a $91 million Malibu estate with its own miniature golf course; and a mystery buyer who bought a Palm Beach mansion for $85.977 million.
Citadel founder Ken Griffin, considered in the market to be Ellison’s competing buyer, purchased a Miami-area estate in Coconut Grove for $106.875 million, the most expensive sale in Miami history
Griffin bought the property from philanthropist Adrienne Arsht, who fell short of the site’s original listing of $150 million
The property — known as Villa Serena — was built in 1913 for former US Secretary of State William Jennings Bryan and includes two entirely separate homes
The main residence was built along with the house built for Jennings Bryan in 2000, providing space for entertaining and formal dining
Julia Koch, widow of the late billionaire and philanthropist David Koch, made Manhattan’s biggest purchase of 2022, buying two apartments for $101 million.
The buildings were sold by the estate of the late Microsoft co-founder Paul Allen. It included a penthouse and a second unit in the basement.
Allen bought the penthouse on East 66th Street in 2011 for $25 million.
Media mogul and superproducer Byron Allen’s even bought a $100 million blufftop estate from self-storage billionaire Tammy Hughes Gustavson, a Malibu record.
The property has been listed for $125 million and includes 11,000 square feet and a grand four-bedroom residence and two guest houses.
Julia Koch, widow of the late billionaire and philanthropist David Koch, made Manhattan’s biggest purchase of 2022, buying two apartments for $101 million
Billionaire media mogul Byron Allen has snapped up this stunning 11,000-square-foot, $100 million Malibu mansion overlooking the Pacific Ocean
Allen, one of Hollywood’s biggest producers, set a record for the most expensive property ever bought in Malibu