Who's buying, who's selling in the world of high-end real estate:
In racing form
Highland Farm, an equestrian property near Lexington, Ky., is one of the most expensive pieces of real estate in the country. However, its $40 million price tag includes more than just a house and some land. With the property comes 30 barns and 19 other homes, all set on some 2,000 acres of bluegrass. George Hofmeister, who owns the property, is a local businessman involved in horse breeding and racing.
Built at a cost of $15 million, the main house has approximately 35,000 square feet of interior space. There are nine bedrooms and 12 baths. Marilyn Hoffman of Hoffman International Properties in Dallas has the listing.
In a new state real estate record, one of New Jersey's largest private estates sold earlier this month for $18 million. The property, known as Dunwalke, was built in the 1920s by financier Clarence Dillon of Dillon, Read & Company, in the hunt country of Bedminster Township. At one time, the estate encompassed more than 1,000 acres; today it consists of 117 acres. Appropriately enough, the buyer is also a Wall Street investment banker: John Thornton, co-president of Goldman Sachs.
When Dillon died in 1979, the property was bequeathed to Princeton University, which used it as a conference center. Selling it to a private buyer required the intervention of the Dillon family, but in the end the deal was put together by Thomas Anderson of Sotheby's International Realty in New York and Turpin Real Estate of Far Hills, N.J.
The 20,000-square-foot main residence has seven bedrooms and features a circular "floating" staircase, as well as a 36-by-20-foot dining room and a music room of similar size. Outbuildings on the estate include an athletic building with an indoor tennis court and swimming pool pavilion.
Silver Oaks takes its name from the trees lining the property.
In Miami, a builder to the rich and famous has put his own home on the market for $4.5 million. Thomas Murphy Jr., owner of Coastal Homes, has built luxury houses in the South Florida area for celebrities such as Sylvester Stallone, Oprah Winfrey and Dan Marino, among others. His house, called Silver Oaks, is a French Chateau-style house set on about one acre. The 8,700-square-foot home has six bedrooms and six and a half baths, and was built in 1999. Audrey Ross of Leading Estates of the World/EWM in Miami has the listing.
Real estate news can be submitted to Anna Rohleder at arohleder@forbes.net or by calling her at (212) 366-8943.
A Sure Bet For $40 Million
In racing form
Highland Farm, an equestrian property near Lexington, Ky., is one of the most expensive pieces of real estate in the country. However, its $40 million price tag includes more than just a house and some land. With the property comes 30 barns and 19 other homes, all set on some 2,000 acres of bluegrass. George Hofmeister, who owns the property, is a local businessman involved in horse breeding and racing.
Built at a cost of $15 million, the main house has approximately 35,000 square feet of interior space. There are nine bedrooms and 12 baths. Marilyn Hoffman of Hoffman International Properties in Dallas has the listing.
Record Sale In New Jersey
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| Thornton's house hunt ended in New Jersey fox-hunting country. |
When Dillon died in 1979, the property was bequeathed to Princeton University, which used it as a conference center. Selling it to a private buyer required the intervention of the Dillon family, but in the end the deal was put together by Thomas Anderson of Sotheby's International Realty in New York and Turpin Real Estate of Far Hills, N.J.
The 20,000-square-foot main residence has seven bedrooms and features a circular "floating" staircase, as well as a 36-by-20-foot dining room and a music room of similar size. Outbuildings on the estate include an athletic building with an indoor tennis court and swimming pool pavilion.
Tropical Chateau
Silver Oaks takes its name from the trees lining the property.
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| Sly Stallone |
Real estate news can be submitted to Anna Rohleder at arohleder@forbes.net or by calling her at (212) 366-8943.
