Still, $125 million is a significant enough number to give anyone—even a billionaire—pause. “There are comparables,” Devendorf says. “There’s an island off Greenwich that's being offered for $175 million, and houses in East Hampton have traded for more than $100 million.”
The price tag, therefore, might be staggering, but it’s not, Devendorf continues, at the top of the scale. “It’s not so far out of the ballpark,” she says.
This article was provided by Bloomberg News.