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$190 Million: The Country’s Most Expensive House

by UrbanTurf Staff

$190 Million: The Country's Most Expensive House: Figure 1

A $190 million estate in Greenwich, CT has been listed for sale, making it reportedly the most expensive home on the market in the country. The Wall Street Journal reported that the estate hit the market on Friday.

The high price of the listing is largely due to its location and the amount of land that is being sold, rather than the size of the home itself. The listing includes a 12-bedroom Victorian, but sits on over 50 acres and comes with not one, but two small islands.

As the Journal points out, it is an “imprecise science” when it comes to pricing homes like this:

Pricing in this stratosphere is an imprecise science, and it can be difficult for sellers to predict whether a nine-figure listing will lead to a nine-figure sale. A number of U.S. properties that marketed themselves with price tags of $100 million or more have wound up selling for less—or not selling at all. While record price tags can drum up attention for the property—“a vanity price is a great way to get your 15 minutes of fame,” notes New York real-estate agent Donna Olshan—they can also lead to multiple and very public price reductions.

As DC real estate fanatics are aware, the most expensive homes to sell in the city in recent years certainly went through their fair share of price reductions before finding buyers.

Image courtesy of The Wall Street Journal.

This article originally published at http://dc.urbanturf.com/articles/blog/190_million_the_countrys_most_expensive_house/7084

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