Billionaire Jeff Greene Relists His "Palazzo di Amore" For $129 Million

By on April 11, 2017 in ArticlesBillionaire News

Back in November 2014, real estate mogul and billionaire Jeff Greene put his Beverly Hills mansion, called "Palazzo di Amore" up for sale. The price? A measly $195 million. The property was the most expensive home for sale in the United States for a solid chunk of time. Then in early 2015, after the home had no biters, he decided to cut the price of the house to $149 million. Again, the mansion still had no biters. Greene took the mansion off of the market temporarily, and put the property up to rent. Now, after his mansion has been on the market for almost three years, Greene has decided to slash the price on the property in an effort to offload it.

After years of being unable to sell the property at the price of nearly $200 million, Greene's "Palazzo di Amore" is now on sale for the "reasonable" price of $129 million. Greene has owned the house since 2007, when he bought the home out of bankruptcy proceedings from a Middle Eastern businessman and his wife for $35 million. The billionaire spent the next seven and a half years fixing up the space, spending tens of millions of dollars to build different parts of the house, including a bowling alley, a 50-seat private screening room, and a ballroom with a revolving dance floor and a DJ.

The property is 25 acres and overlooks Los Angeles, has a 35,000 square-foot main home with 12 bedrooms, 23 bathrooms, in addition to a 15,000 square-foot entertainment center, a guest home, and a working vineyard that produces six types of wine.

Greene is reportedly bringing the house back to market because his kids go to school in Florida, and the family rarely has time to stay in the mansion. In addition, the agents who have been tasked with selling the house claim that the Los Angeles market is ready for another $100 million house listing. Last year, The Playboy Mansion sold for $105 million, and another home in Holmby Hills sold for $100 million.

If anyone is in the market for a house and has a spare $129 million laying around anywhere, this is definitely the house for you.

Articles Written by Marvin Jules
Marvin Jules is a freelancer with a passion for music and sports He is a graduate of Rutgers University with degrees is Communication and Human Resource Management. In addition to writing, he also runs an online store where he curates and sells vintage clothing and accessories. You can follow him on Instagram here (IG: 9to5thrift)
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