Hey bidder, bidder, bidder, bidder!
After two years on the market, the most expensive home in the country is now up for auction.
The megamansion — known as Villa Firenze in Beverly Hills — is currently listed at a whopping $160 million. This would make the upscale home the country’s priciest property to ever hit the auction block, according to the Real Deal.
Sitting at 28,000 square feet, the massive 20-bedroom and 23-bathroom structure has no minimum bid set for when it goes up for auction later this month. The property was completed in 1998 after seven years of construction. The architecture is meant to invoke the feel of a quaint Italian village.
Owned by billionaire Steven Udvar-Hazy, the home first hit the market in 2018 with a list price of $165 million. But without a buyer willing to cough up that much dough, it instead landed at the auction house.
The gated compound includes a 30-car courtyard, a wine cellar and a separate section for staff quarters and guests.
The community of Beverly Park has been home to many A-list celebs, including Denzel Washington, Eddie Murphy and Sylvester Stallone.
Despite its extravagance, many experts have questioned whether an auction is the best way to get to the highest bidder.
“Going to auction could be a great strategy if they are looking to sell the property quickly,” Shelton Wilder, CEO of the Shelton Wilder Group, told Realtor.com. “Sometimes these $50 million to $100 million estates sit on the market and take two to five years to sell. This strategy to go to auction will reach more people and could drive a lot of interest and demand in the property.”
In 2018, the most expensive home to go up for auction was the 30,000-square-foot Playa Vista Isle mansion in Florida, listed at $159 million, but which ultimately sold for just $42.5 million.
Concierge Auctions will be hosting the event.
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December 09, 2020 at 03:34AM
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Most expensive home in US up for auction at $160M — is it worth it? - New York Post
"expensive" - Google News
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