luxury

Luxury Markets: What Do The Wealthy Really Want In Their Homes?

Posted on by TMN Editor
By KIMBERLEY HAAS Large saltwater pools, massage rooms, and places to store extensive wine collections are popular, but there may be more important things to prospective mansion buyers. During the National Association of Real Estate Editors conference in Las Vegas this month, a panel discussion was held to flush out current demands in the luxury market. Speaking during “Mansions 2024” was Mike Leipart, managing partner of The Agency Development Group; Rob Jensen, president of the Rob Jensen Company; Architect Michael Gardner of Luxus Design Build; and Architect Johnny Cruz of Robert A.M. Stern Architects. Here are five key takeaways: Wellness technology is popular with the rich. Leipart said he was in a home recently where the owner had a sauna,…

America’s Most Expensive Home Sets Record At Auction, New Owner Revealed

Posted on by TMN Editor
By KIMBERLEY HAAS A Bel Air megamansion that was listed on the market for $295 million has been purchased at auction by the CEO of Fashion Nova. Richard Saghian, 40, reportedly beat out four other offers for the 105,000-square-foot home. He confirmed he was the winning bidder to the Los Angeles Times. Saghian said the property, with 21 bedrooms, 42 bathrooms, and 7 half baths can never be duplicated. He owns two other houses in southern California, according to the newspaper. “There is nothing else like it. As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of…