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

The mansion dates from the city’s glamorous heyday

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
John Catsimatidis and 670 Pacific Street (Getty, StreetEasy)
Catsimatidis notches win for landlords in 421a suit; tenants vow to appeal
Catsimatidis notches win for landlords in 421a suit; tenants vow to appeal
(iStock)
Overbooked Hamptons hotels spark bidding wars
Overbooked Hamptons hotels spark bidding wars
Photo illustration of Nest Seekers' Dylan Eckardt and the Amagansett property (iStock, Nest Seekers)
Tall tale: Nest Seekers’ “$50M” Amagansett sale was actually $16.5M
Tall tale: Nest Seekers’ “$50M” Amagansett sale was actually $16.5M
Robert Herjavec and One57 (Getty, Beyond My Ken/Wikimedia)
Robert Herjavec buys One57 condo at $13M discount
Robert Herjavec buys One57 condo at $13M discount
Realtors no longer heart “love letters” to sellers
Realtors no longer ♡ “love letters” to sellers
Realtors no longer ♡ “love letters” to sellers
1 Swan Landing
5 Gatsby-esque homes fit for the Roaring 2020s
5 Gatsby-esque homes fit for the Roaring 2020s
Bidding wars occurred in 35 percent of North Fork home sales. (iStock)
Bidding wars drive Long Island home prices to new highs
Bidding wars drive Long Island home prices to new highs
Home sales rise in June, snapping four-month downward streak
Home sales rise in June, snapping four-month downward streak
Home sales rise in June, snapping four-month downward streak
arrow_forward_ios

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

Loading...