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As new home sales have fallen to record lows, building a super luxury mansion for sale today may strike some people as risky, if not crazy, but that is not stopping ambitious developers. In high-end enclaves across the U.S., a number of residences—some of which began construction before the recession—have come to market this year with asking prices north of $20 million (and in some cases considerably more). To identify the most expensive new constructions for sale nationwide, Businessweek.com searched listings on Realtor.com, Sotheby’s International Realty, Corcoran, and Zillow.com. Some were built on spec—or built by developers for sale on the open market, not for a client—while others were custom-built for owners who later decided to sell. The biggest price tag we found: $100 million for a mansion in Windermere, Fla. The least? An 18,886 -sq. -ft. beach house in Boca Raton, Fla. for $22 million. While it remains a buyers market, there is some positive news for sellers: The ultra rich, or those with investable assets of at least $30 million, increased their wealth by 21.5 percent last year, and investing in residential real estate has regained appeal among the wealthy, according to the "2010 World Wealth Report" by Capgemini and Merrill Lynch Wealth Management. The biggest home sale so far this year: a 2006 Bel-Air mansion called Le Belvedere, which had an original asking price of $85 million and sold for as much as $72 million (the final price was not released).
Click here to see 25 of the country’s most expensive new residences for sale.
*Note: Only single-family homes, not properties listed as condos/co-ops and ranches, completed in and after 2009 are included in this list.