A 17th-century Italian villa, one of the most prized properties along the Lake Como waterfront, will be auctioned off at the end of the month.
The auction will be run by Concierge Auctions with a reserve price of $23 million. According to Forbes, the villa was previously been listed for $115 million.
Registered as a national monument by the Italian National Trust, Villa Passalacqua has a long, illustrious history. The 26,501-square-foot neoclassical home was built on land that once belonged to Pope Innocent XI, before it was later expanded and remodeled by Count Andrea Luccini-Passalacqua in 1787.
Since then, the villa has hosted many important historical figures including French emperor Napoleon Bonaparte and British Prime Minister Sir Winston Churchill.
The property has nine bedrooms in the main house and six in a separate villa. In the garden, there are 11 fountains, a 200-year-old greenhouse and a swimming pool. Direct access to Lake Como from the seven acres of green space is completed by 11,000 square feet of catacombs and tunnels that provide a secret route to the stately manor’s private marina.
The current owner is American banker James Cantwell, who used the home as a retreat for the last decade. [Forbes]–Patrick Mulholland