This pastel-pink villa is one of Monaco’s most expensive listings

The mansion dates from the city’s glamorous heyday

TRD NATIONAL /
Feb.February 02, 2019 02:00 PM

(Credit: Sotheby’s)

It’s a candy-pink piece of Monte Carlo’s glittering history. The house once owned by François Blanc, known as the “magician of Monte Carlo,” is on the market for $125 million.

Spanning more than 8,000 square feet, the property has six bedrooms, landscaped terraces, a wine cellar and a 72-foot swimming pool. It was renovated by its current owners, an anonymous Eastern European couple, in 2008, according to the Wall Street Journal. The property is one of the most expensive ever listed in Monaco, which is one of the priciest places in the world to buy residential real estate.

The pastel-pink mansion is known as the “Villa l’Echauguette,” meaning the “watchtower.” It sits on the edge of a cliff overlooking the Mediterranean at Port Hercule, with views of Monte Carlo’s famous Formula One race. It’s one of only a handful of Monte Carlo’s remaining mansions that date back to the Belle Époque period. Many of the grand historic homes have since been subdivided or demolished.

The villa’s former owner, Blanc, was a French casino mogul who helped transform the tiny city-state into an international destination for the wealthy and well-dressed. After building a successful gambling business in Germany, Blanc came to Monte Carlo in the early 1860s. He invested heavily in building the local casino business.

By 1869, the economy was booming and Charles III, prince of Monaco, abolished taxes on local residents paving the way for Monte Carlo to become the international tax haven it is today.

Sotheby’s International Realty France-Monaco has the listing. [WSJ] – Decca Muldowney


Related Articles

arrow_forward_ios
Fredrik Eklund, Julia Spillman and John Gomes (Getty, iStock)

Threatened by tech, agents turn to app

Threatened by tech, agents turn to app
(iStock)

Mortgage applications to buy homes now higher than a year ago

Mortgage applications to buy homes now higher than a year ago
155 West 11th Street and 1100 Park Avenue (FXFOWLE; Google Maps)

Manhattan luxury market shows tentative signs of activity

Manhattan luxury market shows tentative signs of activity
Clockwise from bottom left: Robert Reffkin of Compass, John Gomes, Scott Rechler of RXR Realty, Rich Barton of Zillow, Gary Keller of Keller Williams and Don Peebles of The Peebles Corporation (Getty)

“America is in crisis:” Real estate leaders address George Floyd protests

“America is in crisis:” Real estate leaders address George Floyd protests
16 Sutton Place (Credit: Google Maps)

Sutton Place co-op in turmoil over terrace fees

Sutton Place co-op in turmoil over terrace fees
Molly Townsend (Getty, iStock)

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint
New home listings in Manhattan are up for the 4th week in a row. Contract signings, not so much. (Getty; iStock)

Manhattan resi listings are up while contracts “limp along”

Manhattan resi listings are up while contracts “limp along”
The process for challenging property assessments is so antiquated, officials won’t do Zoom meetings. (iStock)

“A recipe for disaster”: Fighting property taxes in a pandemic

“A recipe for disaster”: Fighting property taxes in a pandemic
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...