With a list price large enough to make a billionaire’s eyes water, the lavish Villa Firenze listed for $160 million and regarded as one of America’s most expensive homes has sold at auction for just $100 million ..
Insulated on 10 acres in Beverly Park, the most exclusive part of Beverly Hills, it was the most expensive U.S. home ever to go to auction with a price guide of $160 million.
Naturally, such an expensive home would be located in L.A.’s most expensive neighborhood. Not only is Beverly Park guard-gated at the north and south entrances, there are gates within the community as well as gates to each residence - some with private guards. Denzel Washington, Sylvester Stallone, Mark Wahlberg and more red-carpet regulars and business moguls call Beverly Park home.
With land scarce in most wealthy L.A. neighborhoods, that isn’t the case in Beverly Park. Lot sizes come in acres rather than square feet and the most expensive home is sprawled across 10 acres. Encompassing 28,660 square feet, Villa Firenze houses 13 bedrooms, 17 full baths and eight half baths. Outstanding features include huge windows - some two-story, large Old World-style fireplaces and surrounds, coffered ceilings and wide-arched walk-throughs. The exquisitely landscaped motor court is surrounded by exotic 40-foot Canary Island palm trees, a central landscaped fountain, and has parking for up to 30 cars. Opening to a grand foyer, the area beyond contains 20,000 square feet of formal entertaining space. The grounds contain a two-story guest house, huge pool pavilion with pool house, and a tennis court. There is a jogging/walking trail around the perimeter of the property. Grassy lawns, water features, rose gardens and other gardens and multiple verandas for outdoor entertaining assure activities for everyone.
The property was sold at auction through Concierge Auctions
Wow, even in the world of luxury real estate, a $100 million markdown is staggering! Villa Firenze must be an architectural marvel to command such a price to begin with. This story is a testament to the unpredictability of the market, reminding all, whether you're looking to sell your house or a luxurious estate, that pricing strategy and market dynamics are crucial. This sale will surely be a talking point for real estate enthusiasts for some time. Curious to see if this sets a precedent for future luxury property negotiations.