Villa Firenze is 28,000 square feet and for two years, the Beverly Crest mansion has lingered on the market for $160 million.
Without a buyer, the massive mansion is now headed for auction next month, with no reserve, according to CNBC. The property at 67 Beverly Park Court is owned by billionaire Steven Udvar-Hazy.
The massive property first hit the market in 2018 for $165 million and since then has sat among the priciest listings in Los Angeles County. In June, the price was trimmed by $5 million, according to Zillow. The site also lists Jeff Hyland of Hilton & Hyland as the broker. The listing has been viewed over 100,000 times.
The main house has 20 bedrooms and 23 bathrooms, and the property includes three guest residences. It was designed by William Hablinski and completed after five years of construction in 1998.
Concierge Auctions is handling the auction. While the listed price would break an auction record if the gavel hammered down at that amount, there is no minimum price threshold in a no reserve auction.
The most expensive home to sell at auction was also sold through Concierge Auctions — the 30,000-square-foot Playa Vista Isle in Florida. That had been on the market for $159 million, but sold in 2018 for just $42.5 million, according to the report.
Concierge Auctions regularly handles luxury property auctions in the L.A. area, but also has a checkered recent history. Between 2014 and 2019, the company was named as a defendant in 10 lawsuits, half of those accused Concierge Auctions of some form of bidding manipulation, including using fake bidders to bid up the price of properties. [CNBC] — Dennis Lynch