Jeff Greene chops $66M off price of Beverly Hills mega-mansion

Billionaire relists Palazzo di Amore estate for $129M
March 17, 2017 01:30PM

Jeff Greene and the home on Lania Lane (Credit: The Agency)

From the Los Angeles website: If at first you don’t succeed, slash $66 million off your asking price.

Billionaire Jeff Greene has relisted his famed Palazzo di Amore estate in Beverly Hills for $129 million — a steal if you consider his original ask was $195 million in 2014.

More recently, the Beverly Hills estate was on the rental market for $375,000 a month, Forbes reported.

The Mohamed Hadid-developed compound spans 35,000 square feet and features a two-story marble entry, a breakfast room, a game room, an office, a 200-guest dining room, a 3,000-bottle wine tasting room, a “Moroccan room,” a Hammam, a vineyard and a “VIP” bedroom suite with silk upholstered walls. The fireplace mantels were hand-carved by a Peruvian woodcarver, who was on site for four months.

The 25-acre Tuscan estate comprises 12 bedrooms and 23 bathrooms in total.

The Agency’s Stacy Gottula and Mauricio Umansky have the listing.

Palazzo di Amore rivals the Spelling Mansion listing in price and extravagance. That 123-room mansion, which hit the market last October for $200 million, is the most expensive home for sale in the U.S.

Greene, who made most of his money by shorting subprime mortgage-backed securities before the 2008 financial crisis, acquired the Mediterranean manor for $35 million in 2007 and invested millions to renovate it.

He is active as a developer in West Palm Beach, where he owns more than 75 acres of prime land. He has opened a school there and plans to bring thousands of residential units, a hotel, a 30-story office building, and a raft of retail space to the city.  [Forbes]Cathaleen Chen