Sunday, April 13, 2014

Update: Most Expensive Listing in America SOLD!

It seems like just yesterday when we filled our dedicated readers in on the most expensive listing in the United States, the Copper Beech Farm estate in Connecticut.  At last report, the price had been slashed $50 million to $140 million.  Then it dropped another ten in January.  You would think that reducing the price so much would position it in front of a whole new cadre of potential buyers, but still it didn't sell.

Well, you can slap a SOLD sticker on that sign in the front lawn, because it is gone for $120 million.  About one-third less than the original ask.  Just to put it in perspective, the broker might have lost three million dollars in commission and will only clear about seven.  Tough times for them.