New | Owner cuts price of Beverly Hills estate to US$149m
Mediterranean-style mansion with 35,000 sq ft of living space and private vineyard had been the most expensive home listed for sale in US
The asking price for a gated estate in Beverly Hills that has topped the price chart of publicly listed homes for sale nationwide at US$195 million since last year has been lowered to US$149 million.
Real estate entrepreneur Jeff Greene, who owns properties in Florida, New York and California, put his Palazzo di Amore on the market in November last year. A few months later, he also offered it for lease at US$475,000 a month.
Greene bought the property in 2007 for US$35 million and spent eight years expanding the Mediterranean-style mansion.
The main residence has more than 35,000 sq ft of living space for a total of about 53,000 sq ft, including an entertainment complex that Greene added and a detached guesthouse.
More recently, about US$1 million was put towards a grand entry complete with a new gate, turnabout and guard station, as well as a lounge area connecting the tennis court to other recreational facilities.
Other features include a floating-style glass-floor walkway set over pools that leads to the entertainment complex, which can seat as many as 250 dinner guests. The 15,000 square foot complex also has a 50-seat cinema, a bowling alley and a disco/ballroom with a revolving floor, a DJ booth and a laser-light system.