In 1994, Jeff Bezos quit his job at a New York hedge fund and moved to Seattle, where he rented a house and famously built Amazon out of his garage. Last year, that house at 10704 NE 28th Street in Bellevue, Washington billed the home as “the birthplace of Amazon” sold for roughly $1.5 million. Ironically, Bezos never actually owned the house where e-commerce was built!
Now as the world’s richest person, the Amazon Chief has become a massive player in the residential real estate market. Bezos always demonstrates a willingness to ignore typical pricing dynamics and simply buys what his heart desires. That’s certainly a benefit of having a net worth estimated at over $205 million. He’s known in the industry as a record breaker!
Residential brokers always compare their jobs in the luxury market to working as an art dealer. Ego, greed, and power are the primary motivating factors, not simply growing one’s wealth. When a buyer falls in love with a property, ignore the asking price – there will be nothing that gets in the way of closing the deal. If they hear of a friend of a competitor bidding against them, they will bid higher. Emotion and pride drive the market.
Privacy concerns are paramount, and residential agents typically sign non-disclosure agreements before starting to work with prominent clients. Divulging any info on the identity of a buyer ‘on the record’ to the press is one way out of the business.
Bezos owns a number of homes across the U.S. and is currently the country’s 25th-largest landowner, according to the Land Report. His impressive portfolio includes the following:
- Multiple homes on over 10 acres of land on the shores of Lake Washington in Medina, Washington.
- Two neighboring mansions in Beverly Hills.
- Jack Warner Estate in Beverly Hills previously owned by David Geffen.
- A former museum in the upscale Kalorama neighborhood in Washington, D.C., which he is converting into a 27,000-square-foot mansion.
- Four connected apartments in the Century, a landmarked Art Deco tower, located at 25 Central Park West.
- Penthouse at 212 Fifth Avenue in FlatIron
- A 300,000-acre ranch, in Van Horn, Texas, which boasts a huge mansion and a bunkhouse.
In this upcoming luxury series, we will further explore Bezos’ residential empire. Join us for the ride!
Article #1: Explore Bezos’ holdings in Manhattan: