Two years ago, one of the most expensive homes in the world was listed at $160 million. After a massive 70 percent discount, the mansion in Beverly Hills, California was sold at auction last April for $51 million. Now, a little over a year later, the property is ready to be taken over again – and it will be more than twice as expensive as what it was last sold for.
Known as Villa Florence, the massive mansion is located in a walled part of the popular Los Angeles neighborhood. The Tuscan-inspired home sits on nearly 10 acres of land and features 31,624 square feet of living space, which includes 12 bedrooms and 14 full bathrooms. It was built over a five-year period by architect William Hablinsky and completed in 1998 with its distinctive touches, such as vaulted ceilings and sculpted moldings. You’ll also find luxury amenities ranging from a two-bedroom pool to basketball and tennis courts, and even a ‘football training field’.
The North Beverly Park estate was the old residence of Hungarian-American billionaire Steve Odvar-Hazy and his wife Christine. Back in 2018, the couple originally wanted $165 million to stay, according to Dirt. After it was auctioned off, biotech entrepreneur Roy Eddleman lived alone in the home, which includes staff quarters, five family-style en suite bedrooms and a master suite. The latter includes spacious double bathrooms, double dressing rooms, and double private offices. Outside, spacious lawns and formal gardens add to the dreamy ambiance.
Registry agent Richard Kluge of Sotheby’s International Realty says: Rob’s report that his client “wanted to sell the house because it was too much for him”. He continues, “The house was built by a family and would be ideal for someone with their own family who could use all the bedrooms and the extra space.” New buyers will also appreciate that Villa Firenze’s lighting, plumbing and water systems have all been upgraded by Eddleman as well.
But many buyers may remain wary of purchasing the property. Sure, it’s great, but what are the other reasons behind the massive price hike in just over a year?
“Beverly Hills has become very popular lately,” Kluge says, and he’s not wrong. Over the past year, the 90210 ZIP Code has seen a spike in big ticket sales, from the Hearst Estate, which sold for $61 million, to Ellen DeGeneres’ former home, which was acquired for $47 million. In 2021, Adele paid $58 million for Sylvester Stallone’s former property in Beverly Park.
Plus, Villa Firenze has more space than most of those homes, which was a big factor in Eddleman’s decision. “We started with $70 million, and then compared groups of neighboring housing,” says Kluge. “One of about the same size only had 2.2 acres and cost at least $50 million. It also costs about $10 million per acre for the flat land that comes with [Villa Firenze] Its origin.” With that, roughly $100 million of the price counts on the estate’s 9.85-acre lands alone.
If you have a little extra cash to drop at the mega mansion, or you’d like to learn more, contact Richard Klug at Sotheby’s International Realty, who holds the list. Check out more photos of the estate below: