The Most Expensive Homes In Finance

The kings of Wall Street really do live like kings.

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From 57-acre Hampton estates to Georgian mansions in the middle of Manhattan, bankers and hedge funders have locked down some of the most valuable real estate in America.

And don't think the recession is slowing them down.

Purchases in the past year include investor Eddie Lampert's $40 million Florida mansion; hedge funder John Paulson's $49 million Aspen home; Oak Hill Capital founder Robert Bass's $42 million Fifth Ave apartment; and Oaktree Capital Management's Howard Marks' $52.5 million adjoining duplexes on Park Ave.

Ira Rennert Hamptons Estate

We've tracked down the most expensive banker and hedge fund homes. To estimate value, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#25 Cliff Asness's Greenwich mega-mansion

Cliff Asness Greenwich home
Screenshot via Bing Maps

Estimated value: $10 million

Title: Co-founder of AQR capital

Hedge funder Cliff Asness purchased a 7,795-square-foot home in Greenwich, CT, in 2003 for $9.6 million, which has 8.5 bedrooms and 6 bathrooms. But that wasn't large enough, so Asness is expanding his property.

In February 2012, The Wall Street Journal reported that Asness and his wife were planning to expand their home and build a 25,900-square-foot, Colonial-style home with an indoor swimming pool and tennis court in Greenwich, according to permits and other town records.

The property is valued at about $6 million, based on Greenwich assessment records, but after construction is completed the value could be much higher.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#24 Jamie Dimon's Westchester retreat

Jamie Dimon Bedford
Screenshot via Bing Maps

Estimated value: $17 million

Title: Chairman, President, and CEO of JP Morgan Chase

Jamie Dimon's 34-acre country estate in Westchester's elite hamlet of Bedford, New York, is the ideal country retreat. Nestled in a wooded area, his 1930s mansion has 10 bedrooms, seven full bathrooms, and three half bathrooms.

Dimon purchased the mansion for $17 million in 2007. While home values in Westchester have generally gone down since the recession, a local broker who specializes in homes in Bedford told us that since this is such a special and unique property, the value of the home would likely hold.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#23 Steve Cohen's sprawling Greenwich estate

Steve Cohen Greenwich Estate
Screenshot via Bing Maps

Estimated value: $17.85 million [based on Greenwich assessor records]

Title: Hedge fund manager and founder of SAC Capital Advisors

Steve Cohen and his wife paid $14.8 million for a 35,000-square-foot mansion on 14 acres in Greenwich back in 1998. In 2008 he proposed adding 1,145-square-feet to his house turning it into a massive estate.

The home has a basketball court, an indoor pool, formal gardens, a tennis court, and a two-hole golf course.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#22 Paul Tudor Jones' waterfront Greenwich property

Paul Tudor Jones Greenwich Estate
Screenshot via Bing Maps

Estimated value: $18.4 million [based on Greenwich assessor records]

Title: Founder of Tudor Investment Corporation

Paul Tudor Jones was one of the first hedge fund billionaires to buy a home in Greenwich, Connecticut.

Back in 1994, he and his wife paid just under $11 million for a Tudor home on Greenwich’s Belle Haven peninsula overlooking Long Island Sound. They tore down the house in 1998 and built a new mansion which seems to have been influenced by Thomas Jefferson's Monticello.

The house reportedly has a 25-car garage, tennis court, and more.

Jones has or had other properties in Colorado, Maryland, and Africa.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#21 Daniel H. Stern's Fifth Avenue penthouse

Daniel Stern Apartment

Estimated value: $20 million 

Title: Co-CEO of Reservoir Capital Group

Daniel H. Stern and his wife purchased a 13-room duplex at 990 Fifth Avenue in August 2011 for $15 million.

The home, which has five-bedrooms, 6.5-bathrooms, and sprawling views of Central Park and the Metropolitan Museum of Art, previously belonged to Philanthropist Samuel P. Peabody.

Based on figures from the 2011 tax year, New York City assessed Stern's apartment to be worth about $16 million, but Elizabeth Sample, an experienced real estate broker with Southeby's realty in Manhattan, estimated the value of Stern's elite penthouse to be closer to $30 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#20 George Soros' Westchester retreat

George Soros Westchester house
Screenshot via Bing Maps

Estimated value: $22 million

Title: Chairman of Soros Fund Management

Billionaire hedge funder, philanthropist, and investor George Soros and his wife own this massive Westchester estate, in Katonah, NY.

They added an adjacent 63 acres and a 19-room mansion to their existing property in 2003. They reportedly paid around $21.5 million for the neighboring property they bought from "Jurrasic Park" author Michael Crichton.

While home values in Westchester have generally gone down since the recession, a local broker who specializes in high-end homes in Bedford told us that since this is such a special and unique property, the value of the home would likely hold.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#19 Boaz Weinstein's old school Upper East Side penthouse

907 Fifth Avenue, Boaz Weinstein

Estimated value: $25.5 million

Title: Hedge fund manager and the founder of Saba Capital

Boaz Weinstein purchased one of three Upper East Side apartments owned by the late reclusive copper heiress Huguette Clark in May 2012. He and his wife purchased the top floor (the 12th) apartment at 907 Fifth Avenue overlooking Central Park for $25.5 million--$1.5 million over the asking price.

Weinstein's apartment is massive, with 4 bedrooms, 4 bathrooms, and separate quarters for the staff.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#18 Vikram Pandit's full-floor apartment over Central Park

Vikram Pandit, Beresford
Wikimedia Commons

Estimated value: $30 million

Title: CEO of Citi group

In 2007, Vikram Pandit purchased a 10-room Manhattan apartment that belonged to the late actor Tony Randall for $17.9 million.

Located in the legendary Beresford building, the apartment occupies a full floor (with its own elevator) and has sprawling views of Central Park to the east.

Similar units in this coveted building have been going for $20 to $30 million, according to StreetEasy. And Elizabeth Sample, a broker with Southeby's in Manhattan, estimated the value of Pandit's giant apartment to be about $30 to $35 million.

Pandit is currently selling his modest country house in Greenwich for a bargain $4.3 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#17 Stephen Freidham's giant Fifth Avenue penthouse

freidheim
Courtesy of StreetEasy

Estimated value: $36 million

Title: CEO & Senior Managing Partner at Cyrus Capital Partners (the successor firm to Och-Ziff Freidheim)

Stephen Freidheim purchased a beautiful 6,500-square-foot Fifth Avenue penthouse for $26 million last year, according to Curbed. The penthouse at 1020 Fifth Avenue occupies the 13th and 14th floors.

Elizabeth Sample, a real estate broker from Southeby's in Manhattan who specializes in high-end properties, estimated the value of Frediham's penthouse apartment to be about $35 to $37.5 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#16 Carl Icahn's Lily Pond Lane Hamptons estate

Carl Icahn, Hamptons Home

Estimated value: $40 million

Title: Investor and Founder of Icahn Associates

Billionaire Carl Icahn's East Hampton property on elite Lily Pond Lane is a seven-acre estate, with two tennis courts and three houses.

According to Trulia, nearby homes have been going for around $20 million, but Icahn's neighbor Bernard Goldberg just listed his similar waterfront home for $40 million, meaning that the value of Icahn's home could be in a similar range.

Susan Breitenbach, a real estate broker at Corcoran who specializes in high-end Hamptons properties, said that any oceanfront property on Lily Pond Lane will go for at least $30 to $40 million. She estimated the value of Icahn's property to be around $40 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#15 Gene "Tiger" Sykes' La Belle Vie, a giant mansion in Bel Air

gene sykes house

Estimated value: $40 million

Title: Co-head of Global Mergers & Acquisitions and Chairman of Global Technology, Media and Telecommunications Investment Banking at Goldman Sachs

Gene "Tiger" Sykes of Goldman Sachs paid $40 million for La Belle Vie, a 35,000 square-foot mansion in Bel Air, California, in June 2011. Sykes, who has been called the most influential M&A banker working today, apparently paid for the place in cash.

The 35,000 square foot mansion was built for Iris Cantor, a philanthropist, by her late husband Bernard Gerald Cantor (who founded Cantor Fitzgerald).

Sykes' opulent home has a media room, three kitchens, a staff wing, a billiards room, tennis court, beauty salon, a wine cellar, a gym, a pool, eight bedrooms, and 21 bathrooms.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#14 Eddie Lampert's exclusive Florida home

Eddie Lampert Florida Home
Screenshot via Bing Maps

Estimated value: $40 million

Title: Chairman of Sears Holdings Corporation and founder, chairman, and CEO of ESL Investments

In March 2012, Eddie Lampert bought a $40 million mansion on Florida’s ultra exclusive Indian Creek Island.

Located in Florida's Biscayne Bay, the seven-bedroom Italian-style mansion measures 17,000-square-food and sits on 2.7 acres.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#13 Bruce Kovner's beautiful Georgian mansion in Manhattan

bruce kovner townhouse

Estimated value: $41 million

Title: Founder and CEO of Caxton Associates

Caxton Associates founder Bruce Kovner bought this beautiful Georgian mansion at 1130 Fifth Avenue for $17.5 million in 1999 and spent an additional $10 million on renovations, which created 12 bathrooms, a soundproof media room, a two-story master bedroom, a book vault, and more.

It's even rumored to have a panic room that's capable of withstanding a chemical weapons attack.

Elizabeth Sample, a real estate broker from Southeby's in Manhattan who specializes in high-end properties, estimated the value of Kovner's townhouse to be about $40 to $45 million, based on recent sales of comparable properties.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#12 Robert Bass's classic Fifth Avenue apartment

Robert Bass 834 Fifth

Home Value: $42 million

Title: Co-founder of Oak Hill Capital management

In February 2012, Robert Bass paid $42 million for the 12th floor apartment in the luxury building at 834 Fifth Avenue in Manhattan. The home previously belonged to Damien Mezzacappa.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#11 Hala Ranch, John Paulson's palatial Aspen home

Hala Ranch John Paulson
Screenshot via VH1

Estimated value: $49 million

Founder and President of Paulson & Co., a New York-based hedge fund.

John Paulson, the hedge-fund manager who scored billions betting against subprime mortgages in 2008, purchased a palatial home in Aspen for $49 million in June 2012 called Hala Ranch.

The ranch previously belonged to Saudi Prince Bandar bin Sultan and his wife, Princess Haifa.

Located on 95 acres in Aspen, the 56,000 square foot Hala Ranch is larger than the White House. It has 15 bedrooms and 27 bathrooms.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#10 Howard Marks' adjoining duplexes on Park Ave

howard marks 70 park

Estimated value: $52.5 million

Title: Co-founder of Oaktree Capital

Howard Marks, legendary investor and Oaktree Capital co-founder, bought two adjoining duplexes at storied 740 Park Avenue in May 2012 for $52.5 million, setting a record for the most expensive co-op ever sold in New York at that time.

The duplexes total more than 30 rooms on the 12th and 13th floors of the building. All told, they have eight bedrooms, 10 bathrooms, a private elevator, elliptical staircases, views of Central Park, two libraries, and seven fireplaces.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#9 David Tepper's massive oceanfront Sagaponack estate

David Tepper Mansion Sagaponick

Estimated value: $60 million

Title: Hedge fund manager and founder of Appaloosa Management

David Tepper bought a $43.5 million oceanfront mansion in Sagaponack in 2011--and promptly tore it down so he could build one twice the size. Construction has been ongoing for the past several months, but the property is looking like it will be behemoth.

Tepper's prime Hamptons property covers 6.5 acres and features 500 feet of ocean frontage.

Susan Breitenbach, a real estate broker with Corcoran who specializes in Hamptons properties, knows this property intimately; she managed this listing as a rental before Tepper purchased it. She said that Tepper is probably putting at least $15 million into the construction of his new home, bringing the property value up to an estimated $60 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#8 Lloyd Blankfein's duplex at 15 Central Park West

Lloyd Blankfein 15 Central Park West

Estimated value: $65 million

Title: CEO and Chairman of Goldman Sachs

Goldman Sachs CEO Lloyd Blankfein paid $26 million for his duplex at the elite Manhattan building 15 Central Park West--in cash--back in 2010.

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#7 Phil Falcone's extravagant former porn mansion

phil falcone apartment

Estimated value: $68 million

Founder of Harbinger Capital and LightSquared

Hedge funder Falcone bought this incredible mansion for $49 million in 2008 from Penthouse publisher Bob Guccione, who had installed ridiculous features like marble columns with his face carved in them.

Falcone and his wife are currently renovating the mansion, spending at least another $10 million to create a 25,726-square-foot palace complete with a 34-foot-long indoor swimming pool; a spa with a gym, sauna, steam room and small plunge pool; a dry-cleaning "press room" in the basement; a state-of-the-art security room; a personal movie theater; two sets of elevators; heated sidewalks to melt away ice and snow; and much more.

Elizabeth Sample, a broker with Southeby's who specializes in high-end properties in Manhattan, said that Falcone's mansion is worth about $65 to $70 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#6 Ron Perelman's 57-acre historic East Hampton estate

Ron Perelman East Hampton
Screenshot via Bing Maps

Estimated value: $70 million

Title: Chairman and CEO of MacAndrews & Forbes Holdings Inc.

Billionaire Ron Perelman owns several properties around the world, but one of his most valuable properties may be his East Hampton estate dubbed "The Creeks," located on 57 acres on Georgica Pond. Perelman purchased the estate in 1990 for $12.5 million.

Built in 1899 by artists Albert and Adele Herter, the lavish estate features a 40-room mansion, nine fireplaces, and a mile of land fronting a coastal lagoon. The New York Times reported that when it last went up for sale in 1991, it was valued at $25 million. At that time, the Times described it as “the largest and most spectacular estate in the Village of East Hampton, with more than a mile of frontage on Georgica Pond and a view of the Atlantic Ocean beyond.”

Susan Breitenbach, a broker at Corcoran in Bridgehampton, said that "there's nothing like it" elsewhere in the Hamptons. She estimated the value of this huge, waterfront property to be around $70 million.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#5 Henry Kravis's 26-room Manhattan penthouse

Henry Kravis Manhattan Apartment
Prudential Douglas Elliman

Estimated value: $90 million

Title: Co-founder of private equity firm Kohlberg Kravis Roberts & Co.

Henry Kravis, the 88th richest man in America, owns a massive 26-room penthouse apartment on Manhattan's elite Park Avenue. The apartment has a gallery, library, ballroom, dining room, a recreation room that is 68 feet long, and wood-burning fireplaces in nearly every room.

According to the New York Observer, he purchased the apartment in 1994 for $15 million, from Princess Ashraf Pahlavi, the twin sister of the late Shah of Iran, at 625 Park Avenue. He reportedly went on to spend at least another $7 million on redecorating.

Elizabeth Sample, a real estate broker with Southeby's who specializes in high-end homes in Manhattan, is familiar with Kravis' penthouse apartment and the elite building its in. She estimated the valued of the home to be anywhere from $80 to $100 million.

TimeOut New York reported that Kravis also owns homes in Southampton; Palm Beach, Florida; Sharon, Connecticut; Meeker, Colorado; Paris and the Dominican Republic.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#4 Steve Schwarzman's luxurious Park Avenue duplex

740 park ave (scharzman home)

Estimated value: $95 million

Chairman, CEO and co-founder of the Blackstone Group

Steve Schwarzman lives in what's considered to be the best triplex in the legendary Manhattan building, 740 Park Avenue.

Built in 1929 by the grandfather of Jacqueline Kennedy Onassis--who lived there as a child--740 Park has just 31 residences that have, over time, commanded some of the highest real estate prices in New York history.

Once owned by John D. Rockefeller, Schwarzman bought his apartment for around $30 million in 2000. Blackstone's CEO has 11 fireplaces, 37 rooms, 43 closets, a gym, sauna, steam room, billiards room, screening room, and servants' quarters. He bought the place in 2000, so it's worth much more now.

Elizabeth Sample, an experienced real estate broker with Southeby's realty in Manhattan, said that Schwarzman's massive apartment would be worth about $90 to $100 million today.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#3 Daniel Loeb's 15 CPW penthouse

daniel loeb apartment
Prudential Douglas Elliman Real Estate

Estimated value: $100 million

Title: CEO and founder of Third Point LLC

Third Point LLC founder and billionaire Daniel Loeb bought one of the very best apartments at 15 Central Park West--one of Manhattan's most elite addresses--in 2008 for $45 million.

His 10,700 square foot penthouse features 360-degree views, servant's quarters, an expansive deck, and a library.

The New York Times recently reported that Loeb and his wife are quietly shopping the apartment around and it is rumored that they are asking $100 million for the coveted apartment.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#2 Martin Zweig's triplex penthouse in Manhattan's The Pierre

Pierre Penthouse, Martin Zweig NYC

Estimated value: $150 million

Title: Investor and Financial analyst

Investor, advisor, and financial analyst Martin Zweig has one of the most expensive residences in the U.S.: a triplex penthouse at the Pierre in Manhattan. The apartment has 16 rooms, 4 terraces and a 2,800-square-foot grand salon, the former ballroom of the Pierre Roof.

Zweig, the author of “Winning on Wall Street,” bought the apartment in 1999 for $21.5 million, which was then a record. In 2006, Zweig put the apartment on the market, asking $70 million. Although it's not officially on the market today, The New York Times recently reported that brokers may be showing it to rich clients anyway.

Elizabeth Lee Sample, a real estate broker with Southeby's who specializes in high-end homes, was involved with the sale of Zweig's penthouse apartment. She said that her company gets calls all the time about this property and that they even had an offer of $150 million, which Zweig turned down. Sample estimated that the apartment is worth about $150 million today.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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#1 Ira Rennert's 110,000-square-foot Hamptons estate: the largest private residence in the US

Ira Rennert Hamptons Estate

Estimated Value: $200 million

Title: Investor and businessman

In the late 1990s, Ira Rennert built Fair Field, a 110,000-square-foot estate in Sagaponack that's believed to be the largest inhabited home in America. The house overlooks the Atlantic Ocean and sits on 63 acres of landscaped grounds.

The 66,000-square-foot Italianate-style main house has 29 bedrooms, 39 bathrooms, a dozen chimneys, a 91-foot long formal dining room, a basketball court, a bowling alley, two tennis courts, two squash courts, and a $150,000 hot tub.

Its property taxes in 2007 were $397,559.00. Based on these taxes, Zillow estimates the home to be valued at about $202 million in 2009, making it the most valuable home in the United States.

Susan Breitenbach, a broker at Corcoran in Bridgehampton, confirmed that this massive property could easily go for anywhere from $150 million to $200 million--it's just a matter of finding the right buyer.

To evaluate the homes, we looked at recent sale records and local tax records and assessment values, and we spoke to local realtors and experts at Zillow and Blockshopper.

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