The 13-bedroom Villa Firenze is set on more than 3.6 hectares of land in Beverly Hills, and can be accessed via its own private street, according to Concierge Auctions, which is handling the sale. The house is decorated with vaulted ceilings, several fireplaces and 25 bathrooms, while the larger property has three separate guest houses.
The gated mansion is located in the exclusive neighborhood of North Beverly Park, home to celebrities like Rod Stewart, Denzel Washington and Sylvester Stallone, according to a press release.
The larger property has three separate guest houses. Credit: Concierge auctions
Designed by Californian architect William Hablinski, the property is described by the auction house as an “authentic Italian village”.
Outdoor amenities include a running track, swimming pool, jacuzzi, pool house, tennis court and patio for 30 cars.
“This is really a masterpiece that is possibly impossible to recreate,” said the owner of the property in a press release. “Many of the most desired and coveted items in the world are sold at auction – and like these, Villa Firenze is also a work of art in itself.”
Registered buyers will have about a week to bid on the 13-bedroom mansion. Credit: Concierge auctions
The luxury home was listed by Hilton & Hyland realtors for $ 160 million, which, if achieved, would make it the most expensive residential property ever sold at auction, Concierge Auctions said.
Despite the apparent risk, auction house president Chad Roffers said auctions could be a better bet for anyone selling properties in the upper end of the market.
“When it comes to properties valued at more than $ 10 million – let alone $ 100 million – the pool of buyers is extremely limited, which usually takes months and years in the market,” said Roffers in an interview by- mail, adding that the traditional sales method has its limitations.
The house was designed by California-based architect William Hablinski. Credit: Concierge auctions
“In Beverly Hills, the average number of days on the market in 2019 was 324,” said Roffers. “Our research shows that if a luxury property is not sold in 90 days, it will likely remain on the market for the next three to five years and will eventually be sold for a fraction of the original price.”
The auction will take place online, over eight days, starting on January 26th.