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Monday, July 16, 2012

Billionaire Rumored to List Beverly Hills Palazzo For $150M according to CURBED.

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Billionaire Rumored to List Beverly Hills Palazzo For $150M

Thursday, July 12, 2012, by Sarah Firshein

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Cat's out of the bag: billionaire real estate tycoon Jeff Greene is rumored to be listing his glitzy Palazzo di Amore, in Beverly Hills, for a whopping, staggering, mind-blowing, and truly phenomenal $150M. Although there's no official listing yet, according to The Real Estalker, the deal's been inked.

Greene bought the 25-acre estate for $35M, rescuing it from foreclosure; he then invested another $15M into it and eventually held his wedding on the grounds (Mike Tyson was best man). A peek inside the 43,000-square-foot main house reveals 11 bedrooms, 14 baths, a 6,000-square-foot ballroom, marble hallways, and, according to reports about Greene's wedding, a revolving dancefloor in a 24-car garage. It's just the sort of lavishness one would expect to see in anything created by Mohamed Hadid, the developer behind that newly listed $58M Los Angeles spread. Outside, there are six acres of working vineyards, a 12,000-square-foot pool house, and an 8,000-square-foot guest house with its own motor court.

In 2009, Greene put Palazzo di Amore on the rental market for $250K a month but told the Wall Street Journal that he "felt this was a $100 million property—if the market hadn't collapsed." Perhaps a few years filled with self adulation have been just the vehicle Greene needed to try and get $150M—no surprise, given that the man owns three private jets and a 145-foot yacht. Will the massive estate soon become the country's most expensive private property, beating out Versace's old Miami mansion and the Suzanne Saperstein's Fleur de Lys in Los Angeles? Only time will tell; stay tuned for more. And folks who want a piece of Greene but can't quite afford to spend $150M can check out his other home in the Los Angeles area, which is now listed for a modest $8.999M.

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· Real Estate Run Down: Jeff Greene [The Real Estalker]
· All Jeff Greene coverage [Curbed National]
· After Spending $50 Million, Estate Owner Seeks Leasers [WSJ]

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Billionaire Rumored to List Beverly Hills Palazzo For $150M according to CURBED.

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