The biltworth estate was once worth $100 million
Lyon realestate, a New York City-based real estate investment trust, bought a $100 billion property in New York state in 2018 for $4.2 billion.
But it is no longer the property of the bilties worth $10 billion.
The New York Times reported on March 1 that the bidders for the property, called the New York biltons, sold the property for $6.5 billion, making it the most expensive real estate transaction ever.
According to a recent report by The Associated Press, The New York State Supreme Court ruled in favor of The New Biltons when they sued the state of New York over the bidding process.
The decision said The NewBiltons could not have bought the property if they had been told it was worth less than $10 million.
The biddings were supposed to be anonymous.
The biltoms lawsuit was originally filed in May 2019.
Now that the lawsuit is over, The bilts have changed their mind and are moving forward with the purchase.
Lyon, a luxury real estate developer with offices in New Jersey, sold to the bilts for $2.7 billion.
The property is valued at $8.2 million.
“The New Bilts’ legal team is excited to be able to finally purchase the property and will continue to work closely with the Bilties and Lyon to ensure that The Newbiltons’ vision for the future is realized,” a statement on The New bilt’s website read.
At the time of the purchase, Lyon said it was looking to turn the property into a “luxury hotel, restaurant, and entertainment destination.”
The bilts lawsuit was filed after the bids were revealed, according to a report by Bloomberg News.
It is unclear how much the bitts are asking for, and the biz has yet to reveal the price.
But the sale will be a welcome one for the real estate community.
Asking for $10 Billion is not the biggest real estate deal of all time.
In 2019, the largest sale in history was a $12.6 billion deal for the New Jersey Tennis and Recreation Center.
Other big deals include $10.7 million for the Londons $10-billion apartment complex, $8 billion for the Brooklyn Bridge, $7.2-billion for the Port Authority of New Orleans and $4 billion for The New Jersey Turnpike.
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