Los Angeles

Villa Firenze sold at auction for $114M below original asking price

Deal for palatial Beverly Park estate was still record, but just barely

Steven Udvar-Hazy and Villa Firenze (Getty, Hilton & Hyland)

Steven Udvar-Hazy and Villa Firenze (Getty, Hilton & Hyland)

Yes, the Villa Firenze estate sold for a record amount at auction when the gavel banged down on the deal in February.

But the sprawling Beverly Park estate’s $51 million closing price was far far below its original $165 million listing. Although news of the auction sale followed a short time after the sale closed — along with notice that it marked a record amount — the price was not disclosed. The Los Angeles Times first reported the auction price.

Including furnishings, the sale for the 28,600-square-foot estate at 67 Beverly Park Court added up to $60 million, according to the report. The previous auction record for a home was $42.5 million, for a mansion in Florida.

The seller, Steven Udvar-Házy, is estimated to be worth around $4.3 billion. It’s unclear how much Udvar-Házy had sunk into the property.

He bought the 10-acre property in 1993 and commissioned architect William Hablinski to design the mansion. It was completed five years later. The mansion includes 20 bedrooms and 23 bathrooms. There are also three guest residences on the property.

Villa Firenze has been on and off the market since 2017. It sat near the top of the market with a $165 million price tag for several years before getting a moderate $5 million price cut last summer.

The listing has been viewed more than 100,000 times, but in November word came it was going on the auction block with no reserve, meaning that there was no minimum price needed to trigger a sale.

[LAT] — Dennis Lynch 

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Los Angeles

Villa Firenze sold at auction for $114M below original asking price

Deal for palatial Beverly Park estate was still record, but just barely

Steven Udvar-Hazy and Villa Firenze (Getty, Hilton & Hyland)

Steven Udvar-Hazy and Villa Firenze (Getty, Hilton & Hyland)

Yes, the Villa Firenze estate sold for a record amount at auction when the gavel banged down on the deal in February.

But the sprawling Beverly Park estate’s $51 million closing price was far far below its original $165 million listing. Although news of the auction sale followed a short time after the sale closed — along with notice that it marked a record amount — the price was not disclosed. The Los Angeles Times first reported the auction price.

Including furnishings, the sale for the 28,600-square-foot estate at 67 Beverly Park Court added up to $60 million, according to the report. The previous auction record for a home was $42.5 million, for a mansion in Florida.

The seller, Steven Udvar-Házy, is estimated to be worth around $4.3 billion. It’s unclear how much Udvar-Házy had sunk into the property.

He bought the 10-acre property in 1993 and commissioned architect William Hablinski to design the mansion. It was completed five years later. The mansion includes 20 bedrooms and 23 bathrooms. There are also three guest residences on the property.

Villa Firenze has been on and off the market since 2017. It sat near the top of the market with a $165 million price tag for several years before getting a moderate $5 million price cut last summer.

The listing has been viewed more than 100,000 times, but in November word came it was going on the auction block with no reserve, meaning that there was no minimum price needed to trigger a sale.

[LAT] — Dennis Lynch 

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