The Lion's Den
News & Views About Real Estate in the Greater Philadelphia Area
Significant Sales in April 2014
A spectacular ocean-front property in the Montecito area of California topped the list of luxury sales in April for Sotheby’s International Realty offices. The 3.55-acre property sold for $19,870,000. There is an existing three-bedroom home on it along with an unfinished 12,000-square-foot residence.
The next highest sales took place on Long Island, N.Y., and Malibu, Calif. The Long Island property, known as “La Presqu’ile” is located on just under 20 acres at the tip of the peninsula connecting Manhasset Bay and the Long Island Sound. It sold for $17,000,000. The Malibu property, called Morning View, is on 5.33 acres with direct ocean views. It is palatial, with manicured gardens, reflective pools,
fountains, a caretaker’s residence, horse stables with riding area,
tennis court, large infinity edged pool with guest/pool house
and fruit orchard. Pictured at right, it sold for $15,000,000.