Property Market Insights Significant Sales

Notable Luxury Home Sales of 2021: Second Half

Highlights from the top reported sales of the second half of 2021 from the Christie’s International Real Estate Global Affiliate network

The second-half sales reported by the Affiliates of Christie’s International Real Estate featured homes that represent the provenance, beauty, and legacy of the Christie’s International Real Estate Affiliate network.

Canal-Facing Residential Building of Modern Design—Dubai, UAE
Sold in excess of US$100,000,000
Sold by Jacqueline Johns, Dinesh Chhatwani, and Abdul Kader Kara of Dubai Premier Estates in Fall 2021

Strict confidentiality clauses preclude divulging any more information about the building or the transaction. The sale underscores the strength of Dubai’s real estate market, with an average boost of 65 percent in sales transaction volume between 2020 and 2021. Confidence in Dubai’s luxury real estate market this past year has been historic. Property sales surged in Q4 of 2021, surpassing the previous quarter. With 15,926 deals worth Dh42.35 billion, it has become the best ever third quarter vis-à-vis transaction value in the history of the Dubai property market. Factors fueling the demand are three recent major governmental factors, openly welcoming high-net-worth individuals from around the globe: favorable tax laws, easing of visa restrictions allowing expats to buy real estate and the country’s decisive and successful handling of COVID-19. Add to this Dubai’s highly anticipated hosting of the rescheduled Expo 2020, which runs through March, and little wonder the emirate was designated one of the world’s greatest places for 2021 by Time magazine.

Tarpon Island—Palm Beach, Florida
Sold at US$85,000,000
Sold by Jim McCann of Premier Estate Properties on July 7, 2021

Tarpon Island—Palm Beach, Florida

Tarpon Island is a sanctuary of more than two acres and the only private island in all of Palm Beach. The rarest of real estate offerings, this ultimately private estate is currently accessible only by boat or a pedestrian bridge. Epitomizing Palm Beach’s discreet glamour, the island with its home built by noted society architect Howard Major in 1939, has been owned by William M. Toll and his wife, Eileen, for decades. The buyer, developer Todd Michael Glaser, stated that his plan is to renovate and expand the residence. Jim McCann of Premier Estate Properties represented the seller in an off-market transaction. The sale is the fourth most-expensive transaction recorded in Palm Beach in 2021 and sets a record for a waterfront property without a private beach in a market facing an unprecedented shortage of inventory.

2790 Gordon Drive—Naples, Florida
Listed at US$40,000,000
Sold by Dante DiSabato of William Raveis Real Estate on September 27, 2021

Bounded by Gordon Drive and the Gulf of Mexico, and surrounded by lush, verdant environs, this world-class estate includes a resplendent 172 feet of direct frontage on the Gulf of Mexico. At nearly two acres, the property affords the potential for residence renovations, or to construct a “magnum-opus” estate. The property is just north of the prestigious Port Royal Club and includes membership eligibility, enabling convenient access to the finest private club experience with world-class dining, a pristine beach with club services, a beachside pool, and fitness, tennis, and spa facilities.

4444 Gordon Drive—Naples, Florida
Sold at US$27,000,000
Sold by Frank Sajtar of William Raveis Real Estate on September 15, 2021

4444 Gordon Drive—Naples, Florida

Posada Del Sol, located in the ultra-luxurious enclave of Port Royal, sold above the asking price. Silky-white sand beaches and stunning sunsets are among the draws of this beach estate encompassing nearly 1.5 acres with 150 feet of waterfront on the Gulf of Mexico. A private sandy beach, heated pool, koi ponds, and an abundance of outdoor settings set the tone for comfortable and carefree living. The beach property offers four bedrooms plus a den, a separate guest house, and two indoor parking bays.

1920 South Highway A1A—Vero Beach, Florida
Sold at US$27,000,000
Sold by Cindy O’Dare and Richard Boga of Premier Estate Properties on November 6, 2021

1920 South Highway A1A—Vero Beach, Florida

This spectacular ocean-to-river estate in Vero Beach’s prestigious Estate Section includes 155 feet of naturally accreting Atlantic Ocean beachfront. A legacy property without equal, the estate includes a main house, guest house, motor court complex, gate house, breathtaking gardens and grounds with two pools, a tennis court with pavilion, as well as incomparable finishes and ample acreage for additional homes, car storage, or a helipad.

1065 Lakeside Blvd—Lakeside, Montana
Originally Listed at US$20,000,000
Sold by David Fetveit of PureWest Real Estate on September 15, 2021

This Flathead Lake masterpiece was designed and constructed by Orlan Sorensen of Landmark Builders. The 15,264-square-foot home includes 520 feet of lake frontage on 5.85 acres. The great room includes an “avalanche” rock fireplace with oversized boulders tumbling from ceiling to floor, and a bank of sliding glass panels that retract completely into stone walls. The downstairs entertaining space features a full Western bar, pool table, and a turn-of-the-century ”Old West” theater complete with an abridged balcony, velvet drapes, brass railings, and walnut accents. There are six total bedrooms, including a two-bedroom guest apartment above the garage with a separate kitchenette and living space. The home also features a total of five fireplaces, each with its own unique stone and steel design.

479 Milligan Canyon Road—Three Forks, Montana
Originally Listed at US$18,500,000
Sold by Jim Toth of PureWest Real Estate on September 21, 2021

Milligan Springs Homestead is an outstanding opportunity for those looking to enjoy the quintessential Montana home setting. This 100-acre parcel is surrounded by an 11,000-acre ranch, ensuring utmost privacy. The main house sits proudly over an artesian spring, bubbling from the base of a grove of cottonwood trees, down a small creek and into a landscaped trout pond. The rustic two-story custom-built home has three bedrooms, three-and-a-half bathrooms, and a children’s bunkroom. Two massive, floor-to-ceiling stone fireplaces act as bookends to the great room and dining area, offering a perfectly framed view outside to the pond. The kitchen has all the amenities expected in a luxury home, including Viking appliances, granite countertops, and custom paint. There are several covered porches with extensive decks and steps leading down to the manicured grounds and pond. A three-bedroom, two-bathroom guest house with an office and three-car garage sits just behind the main residence.

8161 N 51st Place—Paradise Valley, Arizona
Sold at US$10,100,000
Sold by Walt Danley Real Estate on November 10, 2021

Originally built in 1979 for his own family, artist and architect Bill Tull selected this unique three-acre site to create this “sculpture for the desert.” Tull, who died in 2000, was a celebrated visionary who built in the Pueblo adobe style. He created an adobe brick, mixed with an asphalt emulsion as opposed to straw, to achieve structural stability. Homes designed by Tull are strong, romantic, and timeless. This property at 8161 North 51st Place embodies all of the authentic elements of the original home, including vigas and latillas, sculptural fireplaces, and thick, smooth walls with rounded corners. However, this home has been substantially rebuilt and modernized for today’s living.

11 Sutton Place—New York, New York
Sold at US$8,600,000
Sold by Edward Joseph of Christie’s International Real Estate

11 Sutton Place—New York, New York

The Sutton Place townhouse of I.M. Pei, one of the world’s most celebrated architects, sold above the asking price. The all-cash offer was accepted after multiple bids from international buyers and at a US$600,000 premium, a fitting tribute to Mr. Pei’s indelible imprint on the residence. Mr. Pei’s keen eye can be seen in his extensive rebuild of the residence, including a stunning spiral staircase with a geometric skylight and walls of glass framing the bucolic private park and the East River, Queensboro Bridge, and Roosevelt Island beyond. With his wife, Eileen, Mr. Pei acquired the property in 1972, raised his three children and lived there until his death in May of 2019 at the age of 102.