While much of the US real estate action tends to concentrate on New York and other ”affluent” markets last week saw a phenomenal sale in Jackson, Wyoming. The Four Springs Ranch, situated on the west bank of the Snake River, is rumoured to have sold for around $53 million. This was the official listing price and while there has been no official confirmation as yet there is no reason to believe any major discount was given. This is an area of America which has quietly built up the kind of affluent real estate investors many markets can only dream of.
Who is the mystery buyer?
We will need to await official confirmation to see who has acquired the property but it is not difficult to understand why it was much sought-after. Surrounded by the Teton Range of the Rocky Mountains this is an area of unbelievable natural beauty. Many believe this to be the heart of American West and it was as early as the 1920s when wealthy investors began to snap up as much local real estate as possible.
History shows that famous US business magnet John D. Rockefeller was one of the first to begin acquiring great areas of ranch land in the region. While much of his real estate investment was later converted into the “Grand Teton National Park” it seems as though he was just the first of many wealthy visitors to the area.
If we tell you that former US vice president Dick Cheney and actor Harrison Ford have been long-term investors in the region, you will begin to appreciate the type of famous neighbours. Their investments in the region are not often publicised but the great swathes of land which they have acquired allow them the peace and quiet they often struggle to find. To say this is an area of outstanding natural beauty is something of an understatement as the Yellowstone National Park is just to the north. Can you imagine owning great swathes of land just off the famous Yellowstone National Park?
Over the last few weeks we have covered a number of celebrity property transactions many of which have been centred round America’s better known property hotspots. Why the likes of San Francisco and New York have always been popular with the rich and famous, it is nigh on impossible to get the same kind of privacy as that on offer in Jackson. However, as the record $53 million pricetag confirms, this kind of privacy does not come cheap but with continued demand for land in the area it is unlikely to fall in value in the longer term.
As we touched on above, while the likes of San Francisco and New York tend to grab the headlines in the US property market, there are still some hidden gems which offer the rich and famous a lifestyle away from the hustle and bustle of everyday life. The recent $53 million sale of a 265 acre property in Jackson is more than enough land to give you that much sought-after privacy!