$175 Million Sale Sets New US Record

Here is my recent press release:

The U. S. housing market overall may be suffering from the doldrums, but wealthy home buyers continue to invest in homes at the very top of the market. Evidence of the strength of the luxury home segment was revealed in late November with the sale of the Trinchera Ranch in Colorado for a record-setting $175 million. This sale breaks the U.S. residential sales record of $103 million set earlier this year in New York’s Hamptons.

By comparison, the most expensive property currently on the market in the Twin Cities is $53.5 Million, according to Jennifer Kirby, a real estate professional with Exit Realty Eden Prairie. “This property is certainly more affordable than the $165 million home in Los Angles that is the priciest listing in America today,” said Kirby.

Sellers of the Colorado property were the heirs of the late Malcolm Forbes, who acquired control of the historic Trinchera ranch in 1969. The buyer is billionaire hedge fund manager Louis Moore Bacon, who appears as number 286 on the Forbes list of the wealthiest Americans. Trinchera is the largest ranch in Colorado and its 171,400 acres contain five residences and a Western style lodge with 16 bedrooms.

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