A 3-bedroom US home on the market for $175m

The most expensive home on sale in the US right now is asking for US$175 million. And it has only three bedrooms.
The Jackson Land and Cattle Ranch in Wyoming.
The Jackson Land and Cattle Ranch in Wyoming.

Ultra-affluent homebuyers might assume that the most expensive home for sale in the US today would come with a bountiful number of bedrooms.

But they would be wrong.

Last month, the Jackson Land and Cattle Ranch was listed on the market for US$175 million (Dh642.7m) by Hall and Hall, a property firm that specialises in the sale of ranches. Yet the sprawling compound, which spans about 710 hectares and boasts a 52-stall equestrian centre, has only three bedrooms in its main residence - an old converted barn. There are four additional bedrooms, but they are relegated to a guesthouse, and two extra quarters are designed for employees.

What the ranch lacks in rooms, however, it makes up with natural amenities: three fishing ponds, more than 320ha of irrigated meadows and a host of cattle and horses. Not to mention a view of the Rocky Mountains' Teton Range in the far distance.

There is also a major tax benefit for those who have got used to the tax-free benefits of living in the Emirates. The ranch is situated in a valley next to the town of Jackson, Wyoming - a state that does not have state income tax or an estate tax, and where property taxes are relatively low compared with other states in the US.

In spite of the mortgage troubles that many Americans have been dealing with, the year has been a busy one for billionaires buying up property in the US. First the investor Yuri Milner paid $100m for an estate in Silicon Valley earlier this year. Then, more recently, the billionaire heiress Petra Ecclestone bought Spelling Manor, a 56,500-square foot mansion once owned by the TV producer Aaron Spelling. The property was listed for $150m but sold for far less, according to The Wall Street Journal.

 

nparmar@thenational.ae

Published: August 12, 2011 04:00 AM

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