BH Property Smashes Real Estate Record

Palazzo di Amore has broken the record for the most expensive home listed in the US.

BEVERLY HILLS—Palazzo di Amore, an expansive 25-acre Beverly Hills estate, is now listed for sale with a record-breaking $195 million asking price. The Mediterranean-style mansion, which is now the most expensive home in America, is owned by Jeff Greene. Greene, a billionaire real estate entrepreneur, was also a former Democratic candidate in the 2010 Florida Senate election primaries.

The extensive compound contains nearly 53,000 square feet of living space, comprising of 12 bedrooms and 23 bathrooms within several buildings.  A separate 15,000 square foot entertainment center equipped with a bowling alley, a 50-person movie theater, a dressing room, and a disco with a rotating dance floor, is also included. Other amenities include a 27-car garage, a nearly 130-foot-long reflecting pool, a Turkish style spa and a vineyard, which produces up to 500 bottles of wine a year. In addition, Joyce Rey, one of the property’s listing agents, adds on her website, “The lower level…houses approximately 10,000-bottles and barrels from which the vineyard’s wines can be directly sampled.”

Greene bought the property for $35 million while it was still under construction in 2007, after making a fortune betting against ill-fated subprime mortgages. The owner at that time was Mishaal Adham, a Saudi business magnate who almost lost the property to foreclosure. Over the past eight years, Greene reportedly spent $25 million completing the home, which he described as a “shell,” regarding the state of the property when he first purchased it.

This marks the third time the record for most expensive home was broken this year. In April, a Connecticut property sold for $120 million; then in May, an East Hampton estate sold for $147 million, each breaking their individual records.

The Palazzo di Amore is currently listed with Joyce Rey and Stacy Gottula of Coldwell Banker Previews International.