Construction of World’s Most Expensive Home Begins
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- Опубликовано: 4 июн 2024
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Ken Griffin is in the process of building what will end up being the most expensive home in the United States (and the most expensive single family home in the world). Estimated to be worth $1 BILLION when he is finished, this mega mansion compound is going to sit in Palm Beach and it will be decked out with every amenity imaginable.
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-Scott
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The best part about it is that, he’s building it for himself. Unlike the one, it’ll have a personal and probably homier feel because it’s catering to one man’s desire (which probably isn’t the design of a shopping mall)
Should this house be called ‘The Other One’
😂😂😂
Nope, 'The One²'
"The Real One"
„Another one0
nah it should be called tax super rich 90%
At this level, money is no longer money, it is just a way to keep score. The house is just a highly visible trophy. It's also interesting that someone who obviously operates with better information than the rest of us sees fit to invest so much in beachfront property. It's almost like those who know the most know the seas will not rise...
naah Antilla truly looks like a trophy home , dont get me wrong this is cool , but Antilla , that's just damn
@@ishanharshvardhan6687 He'd be better off just buying a luxury beachfront hotel. It will pay for itself, there would always be new and interesting people around, he would have all the amenities he would otherwise have in a private residence, and he can live in the top floor. Howard Hughes style...
@@user-dw1ls3rp1l After spending a billion on this property he is still going to have $33 BILLION… I think he will be fine without your advice on how he “would be better off”
Exactly! Why All these people own ocean front Mansions! John Kerry, Obama, Oprah…..(the Sky is falling “Climate change” screamers). Hypocrites!
It will take a long time for the seas to rise so much, if it ever happens, with significant technological advances there is a possibility that we will reverse it all in the next few decades.
If it happens, by then he will probably be dead.
This level of property will likely have high tide protections and beachfront properties are more scarce, so they may appreciate in value more quickly, before drastically depreciating in value due to sea levels.
do a video on Ira Rennert, a billionaire who owns the largest home in the US. The mansion, known as Fair Field, is located in Sagaponack, New York. It was built in 2003 on 63 acres of land.
I’ll look into this thanks for the suggestion!
Lol it's deff not the largest home in the US.
Talk about "tear downs" HOLY SH*T this is definitely next level.
I know! It’s nearly unbelievable… going to be a compound when it’s done
@@Real.Estate.Report where I’m from 2-5 million tear downs happen on a yearly / monthly basis… but like 12 !! In one area by one owner … Geesh that’s insane. 😳
the rarity to have that big of a plot is just absolutely insane. Can you imagine the rarity of Maralago, and that's a INCOME PRODUCING property, unlike kens...
When your net worth is $33 billion you don't need have a club with memberships.
not the point, the value is higher when theres a return. it's commercial real estate. you sound broke. @@TenthCrane2788
Yeah, Mar a Lardo has a half year caretaker that drifts in with the tide every Spring. It is a business, not a home. Just because he chose to live at the business does not make it a home. That's the deal McLardo made when he was trying to take a whittle at his taxes.
Trump is a real estate guy, if he turns his home into a business, the asset can be depreciated and the costs, staff, and everything is a deduction. Trump does this as a tax strategy. Why do you think his office was below his penthouse in Manhattan? Or his New Jersey home is attached to his golf club? It’s all a tax strategy. Griffin isn’t much different, why do you think her abandoned Illinois for Florida? No state income tax and for a guy like griffin, most importantly, no capital gains tax. Finally,here in Florida if you file for homestead exemption on your primary home, the most your property taxes can increase is 3%/year by law, again, it’s all tax strategy.
@@thomasallen6980 You've spoken the actual truth. It's insane that people keep parroting the nonsensical statements, about the value of mar. largo. The place is a private members club and it's zoned as such to avoid hefty property taxes, by trump.
The value is exactly as stated by the judge, and also by trump to the city.
For the property to be worth more money, it has to be rezoned to a residential property and demolished.
Btw trump is squatting there, he isn't allowed by law to live there as his primary residence.
These are all easily provable facts, that sadly @realestatereport moronically ignores.
Bottom feeders and carnival barkers never cease to amaze.
The massive trench currently dugout on the property will the be underground parking garage for events parking, car collection etc. Apparently it will be able to hold over 200 cars. Also 1 thing I thought was interesting was that almost every single person in this scenario where they manage funds and investments like Ken Griffin, use their house or properties as an investments for their clients. Money is taken from Citadel investors to buy a property for example and is then treated like an investment fund until the home sells where it pays its returns
Wow that is fascinating thanks for the comment
@@Real.Estate.Report Most people do that. I do that too. I had one event and got paid but had to buy entertainment insurance. I am a Producer myself. And usually, very advised by realtors and mainly lawyers to purchase a property under LLC as "an investment property" so it's legal to do so but there is a risk of being sued such as slip and fall, etc. People can also make up things just to receive money. It's 80% properties done this way. Also, if a loan against the house is needed (we never know what might happen in life), it's easier to get a hard money loan, which is easier to obtain vs bank loan(s).. But it's life.
There is no truth whatsoever to this comment. Griffin is worth about $35 billion, and he is using his own funds to buy the house to use as his personal residence and it has nothing to do with Citadel investors. Many rich people have their primary residence in FL due to bankruptcy laws that allow a person to keep their primary residence even if they declare bankruptcy, no matter what the value of the home. Also, there is no state income tax in FL.
A dugout right next to the ocean??? No thanks. My collector car garage is ABOVE any flood plain!
@@Mark-rw3kw It is 100% true and what happens most of the time. If you do some research into most of the properties owned by Ken Griffin; you’ll see their mostly all owned by LLC’s and titled as branches of citadel investment funds. It was even stated in this video where he bought up 4 floors of 9 W Walton in Chicago. The properties are treated like funds and are all managed by Citadel. I completely understand Ken Griffin’s massive net worth but to believe someone with this magnitude of wealth “cashes” out on properties like this for personal use is wrong; it’s always for investment purposes
He bought in right before the palm beach market exploded, good for him, his land is probably worth double what he paid
REP, do you think Ken’s goal with Star Island is to ultimately buy up all the properties over time, raze them, and then build a mega mansion on his own private island?
Lol that was my idea as soon as I saw he bought a single plot
i think he "dropped" that (even if he ever wanted to do it) as he also bought an estate in Coconut Grove, which makes more sense as its much better connected than star island.
im pretty sure the lots on star island that ken griffin owns or the one next to it will be used by stuart miller to develop another mansion, got approved end of 2022, although griffin did buy another house (owned by alex rodriguez) just a few months ago
@@LS-tk7hp Thanks!
Traditionally waterfront homes have the front yard facing the water since that was usually the way people arrived at the home. I too thought it unusual until my family bought a waterfront home in Annapolis where the front faces the water.
It was common practice to build that way and there’s even a new wrinkle with those houses having two architectural “fronts” where the “rear” facing side looks like the front of the house architecturally, in spite of the pool and bbq pits.
Ken is a big investor in art aswell. Has a big car collection too
I find it interesting how some of these homes get so much press while others slide under the radar. If it’s not finished it’s close, a 70,000plus sqft house on the water in Naples Florida. Not as well known as Palm beach but getting to be as excessive.
I definitely want to see the progress of this property!
Such a boss move, bringing many mega mansions down to build your own, mega mega mega mansion.
Mar-a-Lago has an land-use deed restriction that prevents it from being used as a residence. That was done for tax purposes but reduces its real estate value substantially.
The building can be demolished, but just the land underneath it is worth close to 500 million
I would call it "Smart ONE". Sorry, Nile. Scott, thanks for keeping us updated. Your BH friend 🙂
The main problem with this future house is that it is situated very near the take off and landing path of Palm Beach International Airport. The planes are extremely loud on takeoffs and landings right over. I would not want to live there even if I owned a hedge fund and paid virtually no taxes like Griffin.
Great interview. Thanks for the insight. 😎
Scott awesome report on Ken Griffin building a $1 billion mansion in Palm Beach. You are the few ones that do that kind of real estate report on RUclips. I like seeing the design of the house for the first time. It makes more sense for a billionaire like Ken Griffin to build a super expensive mansion than a developer like Neil Neomi who had to borrow money to build a super expensive mansion.
Makes us all realize that Trump cant have any money if he has restrictions on how many nights a year he is allowed to sleep at his social club.
I guess he's not too worried about sea level rising.
I agree that a little risky, and even if the sea doesn't rise there could be a catastrophic hurricane. But they did show that the land is being raised with a lot of dirt to make it about 30 feet higher (the dirt is shown in the video).
@@Mark-rw3kw Palm Beach homes have been there over 100 years without hurricane destruction so they are safe. Many on that stretch like II Palmetto have been there since the 1920s so it's safe.
@@SirRobbins In 1992 Hurricane Andrew completely destroyed everything just south of Miami, so there is no guarantee that Palmetto is safe. Earth is 4 billion years old, not 100 years old. But I am sure that Griffin's home will be reasonably hurricane proof. Realtors always minimize the risk of everything. Many thousands of homes in the US have been flooded that were in the 100-year flood plane and supposedly at very low risk of flooding.
Most expensive home in the World is not this one. There are two others that have been already built that have a price tag a lot higher. One is Putin's place in the Black Sea that costs over $ 3 Billion to build. The number one property in the World (although already "old") is the Sultan of Brunei's place in Bandar Seri Begawan which with time adjusted inflation costs a whooping $ 6,4 Billion to build.
This is cool, super cool. Living the dream
Listen, lets put this into perspective. Ok, so he has Billions of Dollars. Do people honestly think it's better that he just keep all that money in banks etc etc, instead of building a home that will ultimately employ hundreds of people for quite some time.
Even down to the bolts that go into the home, keeps someone in a job.
That is only the beginning for this property. They will have so many people employed full time to even care for the home, landscaping, and the list goes on and on. Trust me, the guy is going to pay these people well, because he's not going to just take any Joe Smoe off the street for this property.
For some reason no one wants to think about the amount of money this guy will be spending on employing so many people with full time jobs, and jobs they will be happy to take.
The only thing I get out of peoples complaints, that they wish it were them deep down.
Plus, don't get me started on why doesn't he give to Charities etc. None of these people complaining know how much, and to whom he gives his wealth too, why, because you don't boast, and it's nobody's business.
A billionaire is a human being devoid of any humanity. People are numbers to them and every relationship is transactional. Why are you defending a robber baron? Are you a temporarily embarrassed Billionaire?
@@popcorn8153 You sound more frustrated with your own life, then the person presented here.
Like building yachts, billionaires will start trying to out do one another with multi-billion dollar mansions.
Wouldn’t surprise me. Bezos is probably next.
😂 Only the ones who are overcompensating for something.
The bigger the truck, the smaller the…
@@Real.Estate.Report Bezos did buy a property in Manalapan (south of Palm Beach) for $172 mill a few months ago with lots of land on it
Just like the Gilded Age all over again. These guys pay no taxes and have so much money, it's not easily invested in anything. So we get this nonsense.
Great video and commentary
Now this is what i call a good retirement plan.
Palm Beach Is The Perfect Place For It 🌴🌅🌊
Sum of all the parts of a new car or motorcycle is multiple times more costly than MRSP on any new car. 1 PC of a 2pc block on my 2000 R6 was a $1k part on a $8k motorcycle.
A Salt Room is a zen type relaxation room that has walls lined with Himalayan Rock Salt. It is said to be very therapeutic.
Mar-a-Lago is deed restricted so it doesn’t have the same value as a normal home since it has to be used as a social club.
It is residential, Trump asked for it to be commercial after 10 years of ownership. It also has over 2 acres of buildings. But yes I guess it is only 18 million, after all the USA is a banana republic now.
@@nyali2
Trump wanted the tax breaks for Mar-a-Lago and he got it. He screwed himself on that.
@@briankearn6991 nope that would be a crime, you should understand how a tax value is set for a property. The owner has zero say, it is the state who sets it. Before you bring it up, you can’t set collateral for a bank either.
The judge ruled that it was 18 million 😊😂😂😂, yes maybe in Mao’s China, where the judge belongs..
@@briankearn6991 you also should know that there is no capital gain tax in Florida, therefore by definition your appreciated property value shouldn’t be the base of your property tax, otherwise it would be unrealized capital gain tax.
@@nyali2
You just described the reason Trump is on trial for falsifying his companies valuation.
I saw his second to last purchase house in the internet and it was beyond amazing, so sad he's just gonna demolish it.
Pretty wild
Ken has a much much bigger house in real life than the one I'll be able to buy in GTA VI.
Let that sink in.
Is GTA 6 gonna have virtual real estate or what?
@@user-dw1ls3rp1l Maybe, who knows. But it'll be set in Miami and obviously there will be houses you can buy. However, I heavily doubt yyou'll be able to buy any property of this magnitude.
@@mrdouche9172 The thing that bums me out about Miami, is it's FLAT. How will there be mountains to jump my monster truck off of?
That plan view doesn’t seem to line up with the actual aerial view of the plot. The road is curved on the lake side of the plot. And there is a turning circle + road on the north west corner of the plots.
I noticed that as well, seems like part of the redevelopment might include re-routing roads. Or that proposed plan might be dated prior to him acquiring a few more lots.
We are the NPC, and Ken is the main character 😂
😂
😂
So you mean we might be immortal, but have limited speech?
Regarding the Salt Room, I remember seeing one in (I believe) one of Enes Yilmazers videos. It more or less is just a fancy word for a steam room. The walls are made of salt blocks that when coming in contact with the warm steam of the "sauna"(?) it apparently is good for your lungs and stuff.
About the build itself, I agree nobody should have this much money. idgaf that he "worked" for it (hedgefund managers don't work, they're all criminals), idgaf that he already donated 2Bs. If you have 35Bs on your account, donate 34 of them or never come see the light of day.
So you are saying that you or the government should decide how much money some one should be allowed to have? OK Comrade
@@alanaldpal950 at least put a cap on it, yes. Nobody needs 35 billion dollars. All these incredibly rich bastards are doing nothing but destroying the planet, while not even paying taxes etc
@@TheMarslMcFly Who decides the cap level? There are Billions in Africa, India, China that surely think what you have is Obscene. You said “rich bastards” ? So all rich people are Bastards? Or is it only people that have more than you that are bastards? How much tax did you pay last year? You do realize that the top 10% of earners pay between 80 and 90% of all taxes? If you are worried about the environment why are you using a phone or computer made of plastics to post here. I may take issue with how SOME wealthy people got rich, but not just because they are rich.
@@alanaldpal950 the Income/Happiness Graph tells you that your enjoyment of life doesn't really improve after you make more than 75k a year. You don't need more than 100 or so K a year.
Your point with me using tech doesn't make any sense, aside from the fact that you need a phone and computer to take part in todays society, me buying a new phone once in 7 years is way less worse than some billionaire building ridiculous mansions with space for three full football teams.
Now go look up how much taxes people like Bezos or Musk pay, and re-think your CAPITALISM HELL YEAH! take
Hopefully it looks better than "The One." Edit: the renderings already looks better than "The One."
Good. Might as well enjoy the money. Better than trying to control other people with it
The property is basically 85% landscaping and 15% an actual house.
Well, that's better than an average urban property scrape, where the structure footprint is like 90 percent of the lot.
The rich get richer and the poor get poorer 😂 can’t wait to see the inside of this thing
Me too I hope some photos eventually get released
All tides rise together, the rich get richer and the poor get richer,
dont blame others because you make bad decisions in life or are just unlucky.
@@thatundeadlegacy2985No. You are completely wrong. If you know anything about our economic state or finance in general, you would agree. I am wealthy myself, and I agree that this is true. Just look at any statistics comparing asset value of the poor to the wealthy, it is a gap getting larger and larger YoY.
Only because the're buying the housing and pricing everyone out of the market, if you ban corps from owning residental, ban people from owning more than 5 houses, the housing market would fix itself overnight, it's a bubble, not indicitive of how much houses are actually worth.@@milliondollalic
oy oy oy how did anyone raise such an uneducated person is beyond me, "just unlucky", "bad decisions" hahahaha@@thatundeadlegacy2985
Am I stupid to think about hurricanes? His home is surrounded by water. I guess he doesn't need home owners insurance. If his house gets destroyed, he'll build another one. As long as mom is O.K.
No, you are not stupid at all. But the vast majority of the value is the land, not the building. Plus, it will probably be build like a commercial building with steel and concrete.
@@Mark-rw3kw I see. It would be nice, however, if he built an architecturally significant home. When money has no limit I can't understand why you wouldn't seek out the world's best architect. I would like to see a home on the level of Neutra's Kaufmann house in Palm Springs or Mies van der Rohe's Farnsworth house in Illinois. Make is singular. Make it perfect... and make it safe for mom.
@@davidhunternyc1 We haven't seen the end result yet. Many of the images in this video were not of the real house. Also, it's hard to design a house that large that would appeal to you, especially since it is likely to be structurally more like a commercial building (concrete and steel) due to the location in a hurricane area. I am sure that he is using a very well known architect, even if it doesn't meet your aesthetic standards.
@@Mark-rw3kw Yes, I'm afraid it will be a McMansion. Sure, there will be travertine marble.... yadayadayada. Concrete and steel can be brilliant. Let's wait and see, I guess.
@@davidhunternyc1 In all fairness, the house you mentioned in Palm Springs is only 3200 sq ft, and doesn't have to be hurricane proof or worry about rising ocean levels. What do you think about Tiger Wood's house, which just a bit north in Jupiter FL.
He has a ways to go yet if he wants to eclipse the Biltmore Estate in Asheville NC: House is 179,000 sq ft, on a modest 8000-acre lot.
Location, location, location
@@alanaldpal950 maybe too close to Trump?
For the right price, everything is for sale.
Even Hillary Clintons virginity?
*guy cruises by 20 mph doesn’t even get out of the car*
‘Unfortunately that’s all the footage he could get….’
No shit
25 acres on the water in Palm beach is unbelievable.
I've been wondering what they were doing on Google Earth. I thought they were building a hotel or something.
the figures thrown about are insane
Hope its waterproof for what it costs. Not will it flood, but when will it next to the beach
Maralgo's Price will sky rocket 🤣
Take years to get that sewage smell out of that club. The land is worth more but the Post Mansion will probably not survive the owner leaking sewage all over the club. No idea why she does not plug that nastiness.
It’s a hard one to distinguish the so called most expensive property. There’s one on the Black Sea worth 3 bill, the sultan of Brunei had a 6 billion residence built. It depends on how you define most expensive house
Chill people! The construction cost will only be around 20--30 millions ( let's make it $50M ) Most expensive were the lands he bought which adds up to a few hundred mils. Then the arts and other bs collection add another few hundred mils. Properties price are speculative and you can list for whatever price you want...
True! Plus I don't think he'll ever list this house for sale. So we'll never know.
Going to be one of the best scuba diving spots in 100 years 😂
Way less than 100 years
Imagine the rates
I live 20 minutes to the south of this future home. Those complaining about the success of this man can shove it. Along the way he has created 1,000's of jobs and businesses for all levels of incomes. This home he is building will create tons of employment in our area for years to come. Instead of nasty, jealous comments, celebrate this man's accomplishments. He obviously had a great vision and followed through on it.
Nothing will beat Château du Champ de Bataille or battlefield castle.
No. He is building that monster in Palm Beach because Citidel is moving to South Florida.
Mar-a-Lago by law cannot be used as a residence and cannot be subdivided for residences so it’s ultimate value is much less!
Plus the owner has a leaky bag, so the whole place smells like feces, even his sister moved away from next door. Just too nasty.
it comes down to deed restrictions. Ken's home will be unrestricted and can be a full time residence. Mara Lago can't.
What is horrible is the tearing down of other homes to get the land.
Second or third or fourth homes. No one is left homeless.
What so horrible about it. It would be different if he went and disturbed nature to build this house. It was already developed. Didn't force to poor to sell to build a highway. He just made the rich a little money in their pocket.
I understand what you mean. But it causes weird distortions in value assessments and taxation to every property around it in a negative way. @@TChalla007
Who cares for ffs
The State and municipalities love it bec It causes horrendous ripple effects in tax assessments with anything around it. You might not understand money. @@smith9808
He wasn't handed down the money, so why should he apologize for it? He should do as he pleases with his $$...that's capitalism; the slow fish, the fast hunt! I'm happy for him!
That’s what I was thinking too!
He would be just as rich (maybe richer) if he didn't build the house, so I am not sure why anyone would complain. Spending one's wealth doesn't make a person richer.
Sounds good until you start digging into the history of what happens when too few people own too much. Does not last long. No it does not. Read your history books.
@@thomasallen6980 There are 21 people in the US alone that are richer than Ken Griffin and 9 of them are worth more than $100 billon (Griffin is worth $35 billion). The total wealth of all Americans is about $150 Trillion (not counting the government).
Agreed, for all those haters - Ken is about to pay million and millions over the years that he will be living here on this property just in property tax. Then all the construction jobs, material, furnishings, upkeep expenses that all goes into the local economy. Don't hate the rich, chances are your employer that hired you is not poor.
Well i don't hate the man for amassing a huge fortune, I will hate him if in the Sunshine State, the land of sun and no solar on his humongous roof.
If he looking this video , i need one Peugeot partner van for work ! Thanks for the generosity!
Thats mind boggling how much money he's spent on real estate. Almost criminal sounding.
If he is worth $35 billion, what would you suggest he invest in? Al lot of people believe that in times of rapid and persistent inflation, real estate is good hedge.
@@Mark-rw3kw But this house probably is not a good investment, more like an oversized consumer product.
@@steffenbendel6031 Most of the value is probably going to be in the land and not the building. Also as I explained earlier there is special value in having a homestead in FL due to no state income taxes and also protection of the property in case of bankruptcy. FL is one of the few states (maybe only) where the homestead is completely protected from personal bankruptcy no matter what the value of the property. These are reasons why so many wealthy people live in FL or are moving there, especially from states that are considering a wealth tax on a person’s net worth, not just on their income. Jeff Bezos recently announced he is moving to FL from Seattle where he started Amazon.
There’s a high rise in Mumbai that cost 2 billion dollars to build. It’s being lived in by one family.
True
look like his making a new Mar-a-Lago
.
Indian billionaire mukesh ambani already has the world's most expensive home amounting equal USD 2 billion, named antillia ( Even if it looks like a commercial building, it still stays the most expensive)
is water not rising anymore?
i have been researching this guy he build a massive home very good it would go up in value than spending on mega yacht that yacht alone upkeep is 10 percent of its value a year imagine wasting 100 million a year on a yacht thats cost 1 billion versus a real estate worth 1 billion with taxes and upkeep of 3 percent a year this is much a better deal than a russian oligarchs giga yachts
Antilia: The world’s most expensive private residence in the world, Antilia is owned by Mukesh Ambani. Estimated value: *$2 BILLION*
Buckingham Palace: With an estimated value of nearly *$1.6 BILLION* as per a May 2022 Bloomberg report, the 775-bedroom official residence belonging to the British Royal Family, since 1837, is reportedly in the top 3 of the most expensive house in the world.
Question?? Wouldn’t the property taxes on many houses that are on separate improved properties be higher than what he is building? For example: 20 mansions on 100 acres or one mega mansion on 100 acres?
He overpaid for all the houses/lots and raised the property tax rate on each of them with his purchases, and his final home will Have a $1 BILLION tax basis with I am guessing an annual property tax bill exceeding over $20 MILLION every year.
@@alanaldpal950 The rich need their compounds to be feel safe.
@@alanaldpal950 That's what I would call a liability and not an asset. But at least he will not need a bridge loan from another hedgefund for 100m a year.
Drone footage would be good
Ed tried but got in trouble… I guess you’re not allowed to fly a drone within 1 mile of mar a lago
@@Real.Estate.Report Oh, ok. That makes sense.
Good for him
Is it a Single Story?
Ken’s prop are worth more than maralargo bc ken’s prop are individual zoned prop & tRump’s prop can not be divided & must remain as a resort.
Should be called THE OCEAN ONE
Mar a Lago is a star property worth several hundred million.
7:55 The entire reason Maralago isn't worth much is because you CAN'T build homes on it. You legally can't live there full time.
100% correct. Palm Beach Golf Club and Everglades Club are comparably appraised to MaL. Commercial property isn’t as valuable as residential, particularly in Palm Bech, which is almost exclusively residential.
So you agree with the valuation of 27 million?
@@tfredrick01 Absolutely. Check out the tax assessment of the nearby, much larger, more popular, more primely located Everglades Club and Palm Beach County Club (which actually have golf courses) and they’re valued very similarly.
@@tfredrick01 idk
You are 100% incorrect. Mar a Lago was residential, Trump relisted it and could relist again. It already has 2 acres of property, which generates income over 20 million a year. Don't try to justify political prosecution, it is wrong. Even if you value it as a business, it should be 2-300 million. 18 million is an absolute joke...
And you build it in a spot prime to be hit by hurricanes lol genius
Nice bragging rights for Palm Beach. South Florida from Palm Beach to Miami coast is absurdly wealthy.
your house update?
It’s coming… I know I’ve been saying that a while. Lots of headaches with the contractors lately. Honestly I’ve been embarrassed to film it the past 6 weeks. Just a mess and lots of delays. We’re getting back on track though.
The Real One
I really don't think people get how much you can get as a multi-billionaire and this just demonstrates how insane just having a few million will take you.
I just got a random feeling that Ken won't get to enjoy that house at his retirement. He is pretty disliked #gamestop.
Can't stop, won't stop
What I don’t get, well there’s a lot I don’t get about this kind of acquisitive behaviour, maybe it’s compensating for something, coping, anyway the big thing is that Palm beach is in the “extreme risk factor” category for property destruction so why invest so much into it when it can all be gone in an afternoon?
He tried to build on that plot once but changed his mind. I wonder if he is going to change his mind again
AMC
To each his own , however i dont envy hm in the least. Most of us are satisfied with far less
Good point. More money more problems.
"Most of us...?" Hmm... I don't think so...speak for yourself
Speak for yourself
He is probably satisficed with far less, but investing in real estate is actually a good investment in times or rapid inflation. What else should he keep his money invested in?
Cope
The sad aspect is that the house will only last one generation as palm beach will be underwater in the coming decades.
“The 1993 agreement that allowed Mar-a-Lago to become a private club explicitly bans club members from staying there for more than 21 days per year, and for more than seven days at a time.” Although it’s still being contested the local legal opinion says “…Trump is considered an employee of Mar-a-Lago-which the ex-president’s attorneys argued he is-then under Palm Beach’s Zoning Code, he would be legally allowed to live there…”.
Source: Forbes
“Trump has signed a deed in 2002 with the National Trust for Historic Preservation exclusively limiting the property to being used as a club.…”Mr. Trump had deeded away his rights to use the property for any purpose other than a social club," state attorney Andrew Amer said…”.
Source: ABC News
This additional context helps thanks for the comment
The estimated price of the Ambani residence is approximately USD 2 billion. So basically not the world's most expensive house.
imagine he kicks his mom out 😂
That would be messed up 😂
Is it hurricane proof? And what about rising seas? In 30 years he’ll have to scuba dive to get to that mansion 🤣🤣🤣
Who would want to walk 50 yards to their kitchen every morning .
I think his chef will cook for him and the other help will bring him his food. But the strange thing is that he probably will be working in Chicago or NY most of the time.
People need to separate the concept of cost vs worth vs appraised value. These can all be vastly different values. The cost of the property is so outrageous because Griffin wants to accumulate high end properties in one neighborhood to build a huge compound. Obviously, once that’s know the homeowners hold out for super premiums which he’s willing to pay. So the value of the properties is much less than the cost. Then the city does an appraisal which is based on a formula applied to all properties. That tends to be the lowest value of all three. This applies to the cost of the construction of the home vs “value” of the home vs appraised value. In the end, it’s only worth what someone is willing to pay for it.
Well said
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What will the view be like when it’s under water? 🤔
US$ 1 BILLION, underwater in 10 years and still have neighbors? ARE YOU KIDDING ME?
I guess he's living that DIE WITH ZERO life! 🤣
10 years? Probably a decade or five later. But since he has 33 of those billions using one on a retirement home before it is a fact isn't much for him.
Totally agree with you that who cares what he builds, he's going to employ so many people to complete this project. People say he should just give his money away, to those people I say, give your money away to others then? "Oh wait that's different...I don't have billions?" Why give it away to people that won't appreciate it anyways? Build stuff and employ people! Capitalism at its greatest!! This guy obviously has had great career and feels like indulging himself in a new home. Who cares? Go for it! I can't wait to see what it actually becomes after it's done.
Most expensive home? What happened to Antilia in India? Wasn't it like $1.2 Bill?
He’s going to have one big HELOC on that thing….
why did he buy all the properties on palm beach using shell companies?