Kerry Barger

It isn’t uncommon for the superrich to purchase and demolish older homes or those in need of a major renovation. Lately, they are tearing down relatively new houses—often after paying nine-figure sums—to build custom homes more in line with today’s styles. “It would seem that these homes are beautiful and livable, with higher-end appliances, cabinetry, countertops, those types of things,” said Robert Burrage, a South Florida-based contractor who has worked on several uber-luxury homes.

The brokerage once controlled only a small share of listings, but that changed in January when it acquired Anywhere Real Estate—the parent company of Coldwell Banker, Corcoran, Century 21 and Sotheby’s International Realty. According to some estimates, the mega-brokerage and its affiliates now handle more than 80% of Manhattan residential sales by dollar volume, as well as more than 30% of listings in other markets.

The project began when the billionaire developer’s wife, Vanessa, and three daughters—now 31, 34, and 36—fell in love with a ski-in, ski-out lot at the upscale Yellowstone Club near Big Sky. Carroll bought the property for $4.5 million in 2018 and built an eight-bedroom “mountain-traditional” home featuring elements that are “all-out Montana,” according to lead architect Corey Kelly, a partner at Bozeman-based Locati Architects.