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November 12, 2014

Beverly Hills Home Most Expensive in U.S.

In September I published a post on Le Palais Royal, which was the most expensive publically listed home on the market at $139 million at the time. However, Le Palais Royal did not hold the spotlight for long. Jeff Greene, who made his fortune betting against sub-prime mortgages before the 2008 financial crisis, is selling his home for $195 million to capitalize on the strength of the international demand for extreme luxury estates. The property is known as Palazzo di Amore (Palace of Love) and was listed on November 6th. 
  • Size: 25-acre compound, 53,000 sq. feet interior space
  • Bedrooms: 12
  • Bathrooms: 23
  • Garage: Fits 27 cars
  • Features: A private vineyard and wine label (creating 400-500 cases of wine per year), bowling alley, 50-seat movie theater, game room, discotheque with a rotating dance floor, separate quest house, reflecting pool, and spa
  • History: The estate was developed by Mohamed Hadid with help from architect Bob Ray Offenhauser and designer Alberto Pinto. Green bought the house in 2007 out of bankruptcy for a reported $35 million and spent nearly 8 years and $25 million expanding the estate.
  • Listing brokers: Joyce Rey and Stacy Gottula of Coldwell Banker
  • The price to beat: The most expensive home sale in the U.S. occurred this year, for $147 million. If Palazzo di Amore sells for greater than $147 million, it will set the record for the most expensive home sale in the U.S. 







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