California property sells online for record $96 million
August 4, 2015
A California office complex has become the most expensive piece of United States real estate ever sold in an online auction, according to Auction.com, the company that facilitated the transaction. [NBC News]
The 309,734 square-foot Manhattan Beach complex sold for $96.1 million. The property was built in 1985, and it consists of two six-story office towers.
The property was not distressed at the time of the sale. Rick Sharga, executive vice president of Auction.com, said people are now buying traditional, nondistressed, high-quality real estate online.
“I think the fact that we had a buyer pay $96 million to buy a commercial property online shows that real estate really is starting to move onto the Internet,” Sharga said.
Auction.com has not disclosed the buyer. The seller was CWCapital.
Billionaire Mark Cuban previously purchased a Gulfstream jet online for $40 million, a deal that is confirmed by Guinness World Records. A 405-foot “Gigayacht” was listed on eBay for $168 million, but eBay has not confirmed it sold for that price.