LOS ANGELES - A new record was set today for the U.S. property marketed by Coldwell Banker Previews International which introduced the most expensive and elite estate in the nation to the market at $195 million. The palatial private gated compound is set on a promontory in the heart of Beverly Hills on a rare, expansive 25 acres offering views of the iconic Los Angeles canyons and city lights, just minutes from world-class shopping, dining and entertainment. Joyce Rey and Stacy Gottula are the listing agents for this unparalleled Mediterranean villa, Palazzo di Amore, complete with its own vineyard.

This Beverly Hills residential compound is owned by successful, self-made real estate entrepreneur Jeff Greene. Mr. Greene owns more than 30 properties in Florida, 3,500 apartments in Los Angeles and 3 buildings in downtown Manhattan, as well as estates in the Hamptons, Malibu and Palm Beach. He invested tens of millions to complete and expand Palazzo di Amore after purchasing it, finishing the second floor of the main residence and building a massive approximate 15,000 square foot entertainment center that includes a disco/ballroom with a revolving turn table style dance floor, DJ booth and a laser-light system. The entertainment complex features a 50-seat private screening room, a bowling alley and a game room. It can host up to 250 guests for a seated dinner or event. Guests are welcomed to the two-level structure through a floating glass-floor walkway over pools lined by 70 year old mature olive trees. The interior features limestone floors with marble and maple inlay, hand-painted ceilings, and paneling of maple burl wood.

"At an asking price of $195 million, this home becomes the most-expensive residential property currently for sale in the United States, based on all information at our disposal. If it were to sell for $195 million, it would handily surpass the current sale record of $120 million for Copper Beech Farm in Greenwich, Conn., earlier this year," explained Rick Goodwin, Publisher of Unique Homes & Ultimate Homes. Coldwell Banker recently listed another of the nation's most expensive properties, the $139 million 60,500 square foot residence inspired by Versailles in Hillsboro Beach, Florida.

The main residence at Palazzo di Amore is over 35,000 square feet, including a finished wine cellar, while the entire estate offers more than 53,000 square feet of livable areas. This includes the entertainment complex, along with a separate guest house that offers a private retreat. The property provides garage parking for 27 cars and can accommodate parking for up to 150 cars on-site.

Palazzo di Amore was developed by Mohamed Hadid, who has a proven track record of developing the nation's most expensive and coveted estates. His most recent Beverly Hills estate was listed for $58 million and was quickly sold within 11 months by Joyce Rey & Stacy Gottula, setting the record for the most expensive home sold in Beverly Hills in 2013. Ms. Rey and Ms. Gottula set the 2010 national sales record when they successfully sold Mohamed Hadid's lavish estate Le Belvedere in Bel Air listed for $72 million.

With architecture by Bob Ray Offenhauser and design by Alberto Pinto, the Palazzo di Amore is suited to entertain in style on a grand scale, offering the opportunity to host events for over 1,000 guests. Visitors arrive through three sets of grand double gates and approach the estate via a quarter-mile long tree-lined drive. The marbled two-story sky-lit entry features graceful twin curving staircases. The living room, dining room, breakfast room, game room, office and family room all open onto the manicured grounds highlighted by a waterfall set into the hillside. The outdoor entertaining areas include a striking 128-foot scenic reflecting pool and fountain. The recreational facilities include a swimming pool, a spa, an outdoor barbecue area and tennis court.

The main floor of the residence boasts a grand chef's kitchen replete with classically-styled cabinetry and a commercial size walk-in refrigerator. It is complemented by a secondary staff kitchen, a fully-equipped butler's pantry, two staff rooms, a three-car attached garage and a suite of two private offices with separate entry.

The wine cellar on the main floor holds 3,000 bottles and a tasting room provides a stately setting to savor the estate's private label, Beverly Hills Vineyards. The vineyard produces a 400-500 cases per year of wine made from classic varietals, including Sangiovese, Syrah, Cabernet, Merlot, Rose and Sauvignon Blanc. The lower level houses approximately 10,000 bottles and additional barrels in a second wine cellar which includes temperature-controlled rooms for wine storage flanked by a large tasting room with stone floors and brick barrel-vault ceilings.

The second level, accessible both by the sweeping double stairway and by an elevator, has two wings. The east wing features a spacious guest suite and a 5,000 square foot master suite. The bedroom features a fireplace with hand-carved wood mantel and a sitting area with Juliet balconies and a large picture window offering sweeping views. The his and her baths include showroom-quality walk-in dressing rooms. His master bath features a traditional hammam, a Turkish style spa highlighted by custom hand-painted wooden panels, a fireplace and floor-to-ceiling iridescent Moroccan tiles glistening beneath suspended Turkish lamps, cultivating the feel of an exotic getaway. The west wing houses four expansive bedroom suites including a VIP suite outfitted with silk upholstered walls, a full kitchen, a large-scale bathroom, a walk-in closet, a sitting room that opens to a spacious terrace spanning nearly 100 feet long as well as 2 additional staff rooms. In total, the estate offers 12 bedrooms and 23 bathrooms

About Coldwell Banker Previews International®

The Coldwell Banker Previews International program has been a world leader in the marketing of luxury homes since 1933. The Previews® program was acquired by Coldwell Banker Real Estate LLC in 1980 and launched as Coldwell Banker Previews International®, the brand's luxury homes program. The exclusive group of certified Previews Property Specialists make up approximately 8.5 percent of the independent sales associates affiliated with Coldwell Banker worldwide. Coldwell Banker Previews International participated in more than 20,000 transaction sides of homes priced at $1 million or more in 2013. On average, Previews handles $102.7 million in luxury homes sales every day. Coldwell Banker, Previews and Coldwell Banker Previews International are registered marks licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

About Coldwell Banker Real Estate LLC

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker Real Estate LLC is the oldest national real estate brand in the United States and today has a network of more than 87,000 affiliated agents working in approximately 3,100 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand with an iPad app, the first to augment its website www.coldwellbanker.com for smart phones, the first to create a iPhone application with international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On Location(SM) YouTube channel. The Coldwell Banker System is a leader in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.

Source: Coldwell Banker Real Estate LLC

 

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