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'The Super Bowl of Real Estate'

Super-Luxury Houses -- Including One Owned by Trump -- Top $100 Million

By Jessica Gresko
Associated Press
Saturday, October 7, 2006; Page F30

PALM BEACH, Fla. -- Donald Trump's property for sale here has all the big-time extras one might expect. Pricey marble and 24-karat gold fixtures decorate bathrooms. There's a gargantuan fountain in the driveway and 475 feet of oceanfront out back.

Perhaps the biggest thing about the home, however, is its price tag: $125 million. And (sorry, Donald) that price has already been trumped. A home in Aspen, Colo., is listed at $135 million. Another home in Lake Tahoe, Nev., was recently listed at a flat $100 million.


The front steps leading up to Donald Trump's oceanfront home in Palm Beach, Fla. The real estate mogul calls Maison de L'Amitie's $125 million price tag a bargain.
The front steps leading up to Donald Trump's oceanfront home in Palm Beach, Fla. The real estate mogul calls Maison de L'Amitie's $125 million price tag a bargain. (Photos By Steve Mitchell -- Associated Press)

The listings represent a monetary milestone in American real estate: the first time U.S. homes have broken into a whopping nine figures, according to real estate experts, and they've done so in quick succession. A May survey of the nation's most expensive homes by Forbes.com put Trump's home at the most expensive and the first to break the $100 million mark. At the time, the next highest listing was a $75 million estate in Bridgehampton, N.Y.

Now, the trio has market followers wondering: Will they sell? And what do you really get for $100 million?

"I'm surprised it took so long for people to realize value," Trump said of the listings. "I'm the one that did it, started the trend, and I'm surprised that people haven't done it sooner."

Usually the top 10 percent of any marketplace is considered the luxury market, but these properties are a tier above.

"They're super-luxury properties," said Trump, the real estate mogul and reality-TV star.

Shari Chase, whose company Chase International has the Lake Tahoe listing, acknowledged the shock value of the recent prices.

"This is stratospheric for offering prices, but I think we're going in that direction," Chase said. "I think these three properties, they are really the Super Bowl of real estate."

And the listings are extreme. At these prices, bedrooms, bathrooms and square footage are almost irrelevant. The homes, like their price tags, are gigantic.

At the Aspen property, owned by Saudi Prince Bandar bin Sultan, the main residence, finished in 1990, has more than 56,000 square feet (about 1,000 square feet bigger than the White House). That's set on a 95-acre site. Think roughly twice the size of Boston Common. It even has its own car wash and gas pumps.

Need more space? The recently listed Lake Tahoe home, owned by Tommy Hilfiger Corp. co-founder Joel Horowitz, comes with 38,000 square feet of livable space on 210 acres. That includes a private trout-stocked lake and two par-three golf courses. Features also include a grand staircase replicating one built on the Titanic ocean liner.


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