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These properties seem undervalued. We're talking about absolute beachfront property a half hour from the #2 population center of the largest economy in the worl
by joonix 13y ago
These properties seem undervalued. We're talking about absolute beachfront property a half hour from the #2 population center of the largest economy in the world in a beautiful area (that's on the US coast that faces Asia) with one of the best and rarest climates in the world. $10 million is chump change to a billionaire; consider the number of billionaires in the world and that the number rises yearly as more and more economies around the world develop and emerge. There are only 70 homes on Carbon Beach. Considering new Manhattan penthouses are selling for $90 million cash, it seems Ellison has spotted a bargain and dived straight in.
- mturmon 13y agoI hate the implications, but you're right. I reached this enlightenment a few years ago after visiting the coastline around Nice and Cannes. It was clear where Malibu was going, eventually. I'm not saying it will be the same, but close enough.
- dylangs1030 13y agoSmall nitpick - Manhattan "penthouse" is a very vague term. You can buy penthouses with 10-30k square feet for $10 million or less in Manhattan. This is dependent on location and marketability, but they are still very high class locales. Unless you mean a penthouse literally less than a year old. Just wanted to share this info as a New Yorker.