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23 April 2024

$525 million: Is this the world's costliest home on sale?

The Villa La Fiorentina is the most expensive of any trophy property. (Pic courtesy: greatshomedesign.blogspot.com)

By Staff

A Florentine palace located on a peninsula jutting into the French Riviera is assumed to be the most expensive home in the world, according to a report.

Therese de Beauchamp villa also known as the Villa La Fiorentina on the French Riviera in Saint-Jean-Cap-Ferrat town, was built in 1917, is rumored to have a price tag of $525 million (Dh1.9 billion), Forbes reported.

The property boasts unmarred views of the Mediterranean.

Though not officially on the market yet, top brokers expect the estate to go on sale soon, the magazine said.

Florentine palace located on a peninsula juts into the French Riviera (Pic courtesy Forbes)

Princess Grace, Frank Sinatra, Andrew Lloyd Webber, Elizabeth Taylor and Greta Garbo are among the rich and famous visiting the villa.

According to Forbes, it tracked down the most expensive homes for sale right now across the planet with the help of global luxury property firms such as Savills, Knight Frank, Emile Garcin Properties, Aylesford International London, Christie’s International (and its affiliates), Sotheby’s International, and Pinkwater Select.

It said it included a few off-market listings (sometimes called “pocket” or “whisper” listings) when they could confirm them with a reliable source.

The result was a list of 19 properties, all priced at $100 million or more, representing the world’s most expensive homes for sale.

Villa La Fiorentina on the French Riviera is the most expensive of  any trophy property.

“Its grand size, location in prime Cap Ferrat, and spectacular views contribute to the stratospheric rumored price point,” says Royce Pinkwater, founder and CEO of Pinkwater Select, a service that advises property investors on their global portfolios.

She describes its location overlooking the Riviera as “like augmented reality.”

Tour Odeon, Monaco

The second-most expensive is the sky penthouse topping the new Tour Odeon, Monaco’s tallest building at 558 feet, which is expected to list for as much as $400 million.

The 35,520-square-foot penthouse includes five indoor stories and an outdoor, rooftop pool complete with a terrifyingly swooping slide.

Although the list price has not yet been unveiled, based on per-square-foot sales prices for lower units, more than 300 million euros ($400 million) would be reasonable, says Knight Frank’s James Price, who has the listing.

“There is no other unit that has this livable space, with these views. You are king of the world up there,” says Price.

Los Angeles

The Owlwood Estate or The Manor, both in Los Angeles’ posh Holmby Hills, both priced at $150 million and well known to be unofficially for sale, the magazine said.

Joseph Schenk, the founder of 20th Century Fox, once owned Owlwood, a 13,000 square foot Italian Renaissance style manor at 141 S. Carolwood Drive.

Other owners included Tony Curtis, and Sonny and Cher. Marilyn Monroe also reportedly spent many a night there as Schenk’s guest.

The Manor, at 56,500 square feet, is larger – it’s actually bigger than the White House – and comes with distinctive decor.

Three years ago heiress Petra Ecclestone Stunt, the then 23-year-old daughter of Formula One billionaire Bernie Ecclestone, snapped up the estate for $85 million from Candy Spelling, widow of 90210 and Charlie’s Angels producer Aaron Spelling.

Ecclestone brought in more than 500 workers, as well as interior designer Gavin Rodin, to give the property a thorough re-do. The foyer is now paved in white marble with a thick black stripe, according to ‘W’ magazine, and rooms are clad in velvet in moody hues.

Two Carlton House Terrace

Two Carlton House Terrace, a six-story townhome in Westminster, near London’s Buckingham Palace, is currently listed for £75 million ($124.33 million) for a 125-year-lease.

Overlooking St. James Park and the Mall, the Neoclassical home was designed by architect John Nash and built between 1827 and 1833. In 1970, the 26,360-square-foot townhome was converted into an office.

However, the property is approved for conversion to a six-bedroom, single-family home with a swimming pool. (Just down the road lies 18 Carlton House Terrace, a 67,000-square-foot, 25-bedroom spread owned by the four-billionaire brothers who control India’s Hinduja Group. That property is valued at around $500 million.) Waterfront palaces are a classic in the ultra-luxury market.

Among the world’s most expensive homes for sale right now are a 11,840-square-foot waterfront villa on the north shore of Sardinia with a price tag of $131.5 million, a 13-bedroom mansion on a hilltop above Cannes for $124.6 million, and a $100 million villa in Cap d’Ail, on the outskirts of Monaco.

Chateau Allaman

For those who prefer to own a castle, the 60-room Chateau Allaman is available on nearly 82 acres in the Village of Allaman, 25 minutes outside of Geneva. Price tag: $131.5 million.

Built in the 13th century by the Count of Vaud, the 64,580-square-foot castle has been restored by the current owner, developer Markus Jerger, who purchased it for a reported $13.9 million in 2005 and poured at least $37 million into the restorations, initially hoping to turn it into luxury apartments.