The auction of Villa Firenze, a mansion in Beverly Hills, California, once asking $165 million, will take place over eight days beginning Jan. 26, according to Concierge Auctions, which is handling the sale. The 13-bedroom Italian palazzo-style mansion and surrounding 9.87-acre estate in the ultra-affluent, guard-gated Beverly Park community is likely to be the most expensive home ever to sell at auction in the U.S. Registered buyers will have roughly a week to bid online for the Los Angeles-area property, which will sell to the highest bidder without reserve, Concierge announced this week.
The lavish home has been listed with Hilton & Hyland since 2018, first hitting the market in 2018 for $165 million. It’s still listed on the market asking $160 million. The seller, aircraft leasing billionaire Steven F. Udvar-Hazy, has owned the property for nearly three decades, building the main mansion in the late ’90s, according to property records.
It’s the largest assemblage in North Beverly Park, one of the most exclusive enclaves in Los Angeles, and comes with a two-story guest house, tennis court and walking trails that lace through nearly 10 acres. The property is made up of two distinct parcels, giving the owner the option to expand or separately develop the smaller of the two lots, according to the listing with Hilton & Hyland. The palatial main house spans 20,000 square feet, including 13 bedrooms, 17 full bathrooms and eight partial bathrooms.
“Over five years in the making, this is truly a masterpiece that is quite possibly impossible to recreate,” Mr. Udvar-Hazy said in a statement. “Many of the world’s most desirable, coveted items are sold at auction—and like these, Villa Firenze is also a work of art in itself.” There are no comparable properties in North Beverly Park, where the estate offers the next owners “impeccable privacy,” said Rick Hilton, co-founder of Hilton & Hyland and whose marketing the home with fellow co-founder Jeff Hyland.
Mr. Udvar-Hazy has chosen an auction as a way to expedite the sale, which for homes of this size and value can take time given the small pool of buyers who could afford such a home. “To our most affluent sellers, time is the ultimate luxury,” Mr. Hyland said. The seller could have “held this property forever, yet is focused on making their next marquee purchase, and the predictable sale date makes that transition seamless.”
Villa Firenze would set a house auction record even if it sold for a fraction of its asking price. Last year, a mansion in Hillsboro Beach, Florida, set a national record for the priciest house auction when it sold for $42.499 million, Concierge Auctions, which also handled that sale, said at the time.
Article source: Mansion Global