3 Bedrooms, 3 Baths - $90 Million Cheque

Tuesday, June 21, 2005

Booming US properties seem to have priced themselves out of the local market. AFP reports (via ABC) that a Swedish industrialist, that could be IKEA founder Ingvar Kamprad who is the richest Swede, has bought a 3-bedroom, 3-bathroom farmhouse for 90 millions dollars, setting a new record after billionaire Ronald Perelman shelled out close to 70 million for a Palm Beach mansion.
OK, the modest farmhouse is set within a 40-acre estate in the Hamptons on Long Island and comes with a two-bedroom caretaker's house, two guest houses, several acres of tillable farmland, a fully stocked man-made fishing pond, a lap pool and, most importantly, a substantial stretch of private beachfront. But this kind of money would probably buy you several nice palaces around the world, even with 30 bedrooms and attached baths.
It has been owned by Schlumberger heiress Adelaide de Menil Carpenter. The story did not say whether she wants to trade up now or if she needs the money to shield herself from further rises in the gasoline price. Trading up is a vital process for the property market to keep prices rising.
Can anybody point me to a picture of this farmhouse!?


Wikinvest Wire