18.02.22 Who Buys a 100 Mil Apartment

February 22, 2018

Who Buys A $100,000,000 Apartment?

Answer Revealed

Michael Dell, founder of Dell Technologies, reportedly purchased a record-breaking $100 million apartment in New York City.

WSJ With The Scoop Flip For More

What Does $100 MIL Buy You?

  • Most expensive home ever sold in New York City.
  • Penthouse located just off Central Park South in midtown Manhattan.
  • 6 bedrooms, 6 baths; nearly 11,000 sq feet.

Click HERE To Look At Building

Wall Street Journal Says:

  • Final Sale Price: $100.47 million.
  • Purchased in 2012 before construction on building finished.
  • Despite the record-setting price, Michael Dell reportedly hired his architect to “renovate” the penthouse.
  • Dell and others would NOT confirm ownership; WSJ reporting based on “sources.”
“I had been warned…not to bring ponies, gerbils, guinea pigs or bunnies to the building, nor to engage in modeling, massage therapy or seminude performances, none of which are allowed.”

Penelope Green detailed her "sleepover" in the skyscraper for The New York Times, Feb 22, 2018

Meanwhile…Back On Earth

  • Existing Home Sales in U.S. for January = disappointment.
  • Biggest year-over-year decline in 3 years.
  • Existing home sales (homes already built) account for nearly 90% of the market.
  • Low inventory leading to higher prices & slower sales.

Why It Matters

  • Real estate market impacts overall economy; local & national.
  • Moving, furnishing, decorating, replacing appliances, renovations etc. impact many industries.
  • Recent data is a snapshot of one month, but this is why we pay attention – to see if slowing sales becomes a “trend.”
‘There may be some headwinds ahead for home resales with rising mortgage costs affecting how much the buyer can afford & this could put a damper on existing home sales & take some of the wind out of the economy’s sails.”

Chris Rupkey, Economist to Reuters

The Median Sale Price of An “Existing” Home in America = $240,500

by Jenna Lee,