A lavish residence in Beverly Hills known as the Villa Firenze has been a fixture among luxury real estate listings in the area for two years now. With its staggering price tag of $160 million, this opulent mansion has yet to find a buyer. Real estate sites, including CNBC, have reported that this exquisite property is headed for the auction block. If it sells for the anticipated price, it would set a new auction record for single residential properties in the United States.
Next month, bidding is set to begin on the home, and its list price alone will break records for the most expensive homes sold at auction. Interestingly, with no minimum reserve price, some fortunate buyer may land a significant deal in comparison to the hefty $160 million list price, which many believe could have been overly optimistic from the start.
The Villa Firenze estate stands as a remarkable jewel in the luxury real estate market, regardless of whether it sells for $160 million or not. Described in the auction listing, this property is an authentic Italian village crafted over the largest assemblage in North Beverly Park, spanning more than nine pristine acres across three lots. Privacy is paramount in this exclusive guard-gated community, with expansive gates leading to an immense courtyard that accommodates up to 30 cars, surrounded by lush 40-foot-tall Canary Island palms.
What You Will Learn
- Villa Firenze is listed at a staggering $160 million, aiming to break auction records.
- Bidding is set to begin without a minimum reserve price, allowing potential buyers to snag a deal.
- The property features luxury amenities, including a pool, tennis court, and expansive living spaces.
- The current owner, billionaire Steven Udvar-Hazy, hopes for a successful auction outcome.
While the previous list price of $160 million would make Villa Firenze the most expensive residential property to be auctioned in the US, it would indeed be a stroke of luck for the current owner if it sells for anything close to that figure. For context, the previous record-holder was a home in Hillsboro Beach, Florida, which was listed at $159 million in 2015. When it went to auction three years later, it ultimately sold for a mere $42.5 million.
Regardless of the final sale price, Villa Firenze remains an impressive architectural feat, capturing the essence of luxury living. Interested buyers can view the property in a slideshow provided by YT Real Estate. Bidding is set to commence on January 26th, 2021.
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