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Categories: Luxury Real Estate

Beverly Park home sells at auction for record price of $51M

A 28,600-square-foot, Italian-inspired mansion in Beverly Park, Calif., has just gone under the hammer for a whopping $51 million, making it the most expensive home ever sold in a U.S. auction.

The buyer of the Villa Firenze also made an additional deal for the home’s furnishings, bringing the total transaction amount to $60 million, the Los Angeles Times reported.

The home was originally listed in 2017 for a much bigger asking price of $165 million. But with the property remaining unsold, its owners decided to sell it off to the highest bidder through Concierge Auctions.

Previously, the record amount for an auctioned home was $42.5 million for a home in Hillboro Beach, Florida, that was also sold by Concierge Auctions. The L.A. Times noted that the $51 million price tag also makes it the most expensive real estate deal of all in Southern California so far this year.

The previous owner of Villa Firenze was Hungarian billionaire Steven Udvar-Hazy, who made his riches in the aircraft leasing business. The L.A. Times said he bought Villa Firenze back in 1993 and then combined three lots to create the sprawling, 10-acre estate on which it sits.

Among the features of Villa Firenze are a 30-car courtyard, a swimming pool, guesthouses, a tennis court, a jogging trail and more than 20 bedrooms.

Rick Hilton and Jeff Hyland of Hilton & Hyland held the listing, while Richard Klug of Sotheby’s International Realty represented the buyer in the auction.

The auction took place in February, but the closing occurred much more recently, which allowed public records to reveal the final price, according to media reports.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

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