A lavish residence in Beverly Hills, known as Villa Firanze, has been a fixture among luxury real estate listings in the region for over two years. But thanks to its high price, no buyers have been found, and real estate site CNBC and other outlets are now reporting that the mansion is for the auction block, and if it goes for $ 160 million it will be for singles. Residential property in the United States will break an auction record.
Next month, bidding will begin at home, and its list price alone breaks a record for the most expensive homes under Gavel. But, with a minimum reserve price, some lucky buyers can strike a significant bargain on the property in comparison to its $ 160 million list price – which can certainly be a highly optimistic value all along.
As a Villa Firenze property, it is a jewel at the absolute top of the luxury real estate pyramid, whether or not it is actually selling for $ 160 million. Here’s how it is described in the auction list:
“Enter another world at Villa Firenze, where an authentic Italian village is carved out on the largest montage in North Beverly Park, covering more than nine pristine acres in three lots. Privacy in Los Angeles is the most exclusive guard-gated The community is paramount. Where accessible by its own street, the property’s massive gates open to a huge courtyard with space for 30 cars, surrounded by 40-foot-high Canary Island palms. Large and formal. Organize lavish parties on a 20,000-square-foot space. The gathering site for a weekend of living areas in your two-story guest house, or entertain guests. A walking / walking trail perimeter of the property and its extensive Four-acre, extensively manicured backyard walks. Fabulous including a pool house and a pool with outdoor tennis courts. Welcome to a one-of-a-kind escape to one of the heart of Los Angeles.
While the previous listing price of the house in the $ 160 million range would make it the most expensive residential property to go up for auction in the US, it would be a stroke of great luck for the current owner of the house (billionaire Steven Udwar-Haji) Selling ended up at auction for something close to the price. For perspective, the previous record holder was a house in Hillsborough Beach, Florida that was listed for $ 159 million in 2015, and when it went up for auction three years later, it was very low: for $ 42.5 million Finished selling.
Whatever it is, the Villa Firenze is an impressive work, and you can see it in the slideshow below from YT Real Estate. The bid will start on January 26, 2021.