Palm Beach, Florida, luxury real estate had a banner year, nabbing half of the most expensive sales of the year, but a New York City deal claimed the top spot.
From mansions in Palm Beach, Florida, and Malibu, California, to an estate on Hawaii's Big Island, here are the most expensive beach home sales to take place in 2021.
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South Florida’s biggest residential sales of 2020
Top sales were scattered throughout Miami Beach, Palm Beach and Coral Gables Miami /
From left: 300 North Lake Way, 1095 North Ocean Boulevard and 8 South Lake Trail (Google Maps)
South Florida’s ultra-luxury home market boomed in 2020, setting new records throughout the pandemic.
Buyers from high tax markets in the Northeast and California flocked to Palm Beach, Miami Beach and nearby towns, absorbing nearly all of the waterfront luxury home inventory. As people transitioned to working from home, they headed south in big numbers, looking to Florida and its lack of state income tax. That residential migration has included finance and tech executives, who are also opening up offices in the Magic City.
Jeff Bezos, Jeffrey Katzenberg and David Geffen led 2020 s Biggest Real-Estate Deals
12/28/2020 | 03:21pm EDT
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By Katherine Clarke Many U.S. billionaires got richer during the pandemic, thanks in part to the recovery of global stock markets. It s perhaps unsurprising then that, while individual markets were impacted to dramatically different degrees, the ultra-high end of the real-estate market didn t crash in 2020 as a result of the Covid-19 crisis. While the New York City market took a gut punch as wealthy Manhattanites fled the city, markets such as the Hamptons, Greenwich, Conn., Palm Beach and Los Angeles boomed. Local realtors attributed that uptick in part to the increasing fortunes of the wealthiest Americans, a desire by the rich to get out of densely populated environments and a rise in the number of people who wanted to upsize to larger homes with space for work-from-home friendly amenities like offices and gyms.