How will the Bay Area compete against Billion dollar homes?
Inside-the-World’s-First-Billion-Dollar-Home: Personal Finance News from Yahoo! Finance
Like many families with the means to do so, the Ambanis wanted to build a custom home. They consulted with architecture firms Perkins Will and Hirsch Bedner Associates, the designers behind the Mandarin Oriental, based in Dallas and Los Angeles, respectively. Plans were then drawn up for what will be the world’s largest and most expensive home: a 27-story skyscraper in downtown Mumbai with a cost nearing $2 billion, says Thomas Johnson, director of marketing at Hirsch Bedner Associates. The architects and designers are creating as they go, altering floor plans, design elements and concepts as the building is constructed.The only remotely comparable high-rise property currently on the market is the $70 million triplex penthouse at the Pierre Hotel in New York, designed to resemble a French chateau, and climbing 525 feet in the air. When the Ambani residence is finished in January, completing a four-year process, it will be 550 feet high with 400,000 square feet of interior space.
Oh great. More competition. Together, I know we can beat this price. I can’t wait for the day when a typical Eichler can go for $1 billion. All we need is that good ol’ 20% year over year appreciation to return…
Then Nita and Mukesh Ambani will wish they had bought here instead of being priced out forever!
May 17th, 2008 at 1:26 pm
Anyone can build a billion-dollar house. The real question is, how much would this house cost if it were in the Real Bay Area? Since even a billion dollars wouldn’t get them the permits to build a 25 story tower anywhere but downtown San Francisco or (giggle) San Jose, they could lay the whole thing on its side and buy 60 acres for it in Woodside. That ought to do the trick.
May 17th, 2008 at 1:34 pm
Also, this might be a big house, but does it have a Hot Chicks Room? Didn’t think so.
May 18th, 2008 at 12:06 am
Also, this might be a big house, but does it have a Hot Chicks Room?
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One little problem. Mukesh’s mother will live with them.
Very funny video though.
May 18th, 2008 at 10:59 am
i’m pretty sure Mukesh will have a harem of top ten models in his place, ready to give him whatever he wants at a whim, beck and call.
May 19th, 2008 at 10:57 am
Well, at least he is spending less than 2% of its net worth. He is not taking a jumbo “stated income” loan.