[PIC] Most Expensive Home in U.S. Hits Market

By on July 9, 2015

Billionaire investor Jeff Greene is selling Palazzo di Amore, a 25-acre Beverly Hills compound suited for royalty. With an asking price of $195 million, it’s the nation’s priciest private residence.

Listing agents Joyce Rey and Stacy Gottula of Coldwell Banker Previews International are confident they can sell the property by marketing it publicly. By contrast, the second most expensive home for sale in the U.S. — the legendary Owlwood Estate — isn’t advertised online.

“Nowadays, people think it’s best to keep high-end listings very private,” Gottula said. “But we don’t think pocket listings are in the best interest of the seller. We sold the highest priced listing of 2010, Le Belvedere, by marketing it like crazy.”

And this one is a dream to market because the estate speaks for itself.

“I can honestly say that this property is an incomparable crown jewel without an equal,” said Greene, who owns more than 30 properties in Florida, 3,500 apartments in Los Angeles and three buildings in downtown Manhattan.

In 2007, the real estate entrepreneur purchased the estate for $35 million from Saudi businessman Mishaal K. Adham.

“The house was a complete construction site at the time,” explained Gottula. “He bought it through a bankruptcy-type situation.”

Greene got married in the home, with Mike Tyson as his best man, and then invested tens of millions to complete and expand the property.

“True to its name, Palazzo di Amore, this estate has been a labor of love for me,” Greene said. “In creating a palace for the modern era, I have set the highest standards of craftsmanship and artistry in every detail, from employing a 17-step painting process with antiquing to importing 70-year-old olive trees.”

The estate has 12 bedrooms, 23 bathrooms, a 3,000-bottle wine cellar, Turkish-style spa, 2-lane bowling alley, state-of-the-art theater, pool and more — all 2 miles above the historic Beverly Hills Hotel.

“Palazzo di Amore offers the best of everything: a world-class location in the heart of Beverly Hills, a grand residence built with masterful attention to detail, inspiring views that stretch to the ocean on a clear day, and a vineyard from which you can savor your very own wine,” Rey added.

Because of the level of luxury, the agents don’t think the buyer will be from the U.S.

“Most of the sales over $50 million in town have had international buyers,” Gottula said. “I have a feeling this one will be international.”

Read more at Zillow

You must be logged in to post a comment Login

Leave a Reply

If you are a current investor, real estate investor, private lender, business owner or a professional who serves these groups, then you will enjoy and benefit from the Reinvestor Newsletter.

Enter Your Name & Email Below. Subscribe today, and get a valuable publication of ours as a free gift.

100% Secure