In Los Angeles, one of the most extravagant Italianate-style mansions ever built has raised the bar for luxury property auctions with a $50-million-plus sale.
Villa Firenze, a larger-than-life estate in the ultra-exclusive Beverly Park neighborhood of Beverly Hills, sold for $51 million, among the highest prices ever paid for a piece of real estate sold via digital auction.
The estate, which spans ten acres and is centered on a 28,600-square-foot home, had been on and off the market since 2017. It was initially listed for sale for $160 million last summer before being put up for auction with no reserve earlier this year.
Formal living rooms on the inside feature arched entrances, dramatic columns, high ceilings, unique fireplaces, and marble, brick, and stone floors. There are 13 bedrooms and 21 bathrooms between the main house and the two-story guesthouse.
Private gates lead to a verdant courtyard with parking for 30 automobiles and 40-foot palm trees.
The groomed grounds feature trails that lead to a four-acre backyard with a resort-style swimming pool, Jacuzzi, pool house, and tennis court.
Prior to the auction, the record for a luxury property sold via digital gavel was held by a Florida mansion modeled after France’s Palace of Versalles that sold in 2018 for $42.5 million. In terms of L.A.’s red-hot property market, the transaction ranks among the most expensive homes sold in 2021.