Friday, October 13, 2006

See... there are still buyers out there

Even ones willing to pay $34,000,000 for 3 acres of land. Residential even.

"Thirty-four million dollars is a lot of money but you have to look at the fact that it is 120 thousand square feet, just shy of three acres, and it has 350 feet of ocean frontage," said listing agent Patricia Choi.

The deal on the sale closed Thursday. It's believed to be the largest residential real estate transaction in Hawaii.

The property is actually comprised of three separate lots that were combined into one parcel. The property went on sale in mid-summer and was almost immediately snapped up.

All right, it's a property in Hawaii -- beach front and all. Still that buyer had to be plenty motivated, looks like he/she even saved a few million off the asking price. Shrewd negotiator for sure.

It does make a 10 acre land listing I have listed for $395,000 look like an incredible bargain though.

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