The Real Deal Miami

Fit for a king? After years on the market, Versailles-inspired estate to be auctioned off

Le Palais Royal, a 60k sf estate, was asking $159M in 2015
October 01, 2018 12:30PM

The Hillsboro Beach mansion at 935 Hillsboro Mile (Credit: Wikimedia Commons)

In search of a new king and queen, a palace in Hillsboro Beach is heading to the auction block after years on and off the market.

Once one of the priciest residential listings in the U.S., the Hillsboro Beach mansion at 935 Hillsboro Mile will sell to the highest bidder next month – foregoing its previous asking price of $159 million and without a reserve price. Mayi de la Vega, owner of One Sotheby’s International Realty, is the listing agent. Concierge Auctions will handle the auction, which begins Nov. 12 and ends Nov. 15, according to the Wall Street Journal.

935 Hillsboro Mile (Credit: Kim Sargent)

The 60,000-square-foot estate, known as “Le Palais Royal” and “Playa Vista” features 11 bedrooms, 22 bathrooms, an IMAX home theater, six waterfalls and two deep water docks. As it is in Paris, 22-karat gold leaf is sprinkled throughout, in addition to a number of chandeliers, ornate balconies and marble columns.

935 Hillsboro Mile (Credit: Kim Sargent)

Robert Pereira, president of The Middlesex Corp., a contracting firm based in Massachusetts, owns the Hillsboro Beach property. He told the Wall Street Journal that construction cost him more than $100 million. It hit the market in 2014 for $139 million, going up in price the following year. It was taken off the market in 2016.

935 Hillsboro Mile (Credit: Kim Sargent)

A handful of other Versailles-inspired homes also have popped up, including one in Windermere, Florida, where “Queen of Versailles” was filmed.

935 Hillsboro Mile (Credit: Nickolas Sargent)

The Hillsboro property is the latest uber high-end home to head to auction. Earlier this year, Marco Iacovelli took his Star Island mansion to auction without a reserve after listing the home for $65 million.  [WSJ] – Katherine Kallergis