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November 8, 2014 / Maggie Mercer / 0 Comments / Luxury Home Market

Palm Beach Real Estate Tycoon Lists Country’s Most Expensive Property

Earlier this week, Hillsboro Beach mansion, Le Palais Royal, was dethroned from the title of “most expensive property in the country,” at $139 million.  Jeff Greene, billionaire real estate investor, listed his Beverly Hills mansion on Thursday, known as Palazzo di Amore, for a whopping $195 million. According to a recent Palm Beach Post article, Coldwell Banker Residential Brokerage announced the sale, touting the property as a “truly modern castle in every sense.”

Jeff Greene moved to West Palm Beach as a high school student, where he worked as a waiter at The Breakers before attending Harvard Business School. While earning his MBA, he began investing in real estate and made millions buying credit default swaps. After living in Los Angeles for several years, Greene returned to South Florida, setting up his new office in the old Palm Beach post office. In recent years, he has invested millions in Palm Beach County properties, including the oceanfront La Bellucia in Palm Beach for $24 million in 2009. It has been estimated that he has spent nearly a quarter-billion dollars in the West Palm Beach area over the past few years. Greene bought Palazzo di Amore in 2007 from a Saudi businessman for a reported $35 million.

“The most desirable property you’ll come across,” (according to Coldwell Banker) features a 3,000-bottle wine cellar, 12 bedrooms, 23 bathrooms, 5,000 square-foot master suite, Turkish-style spa, complete with floor to ceiling iridescent Moroccan tiles, and a stand-alone 15,000-square-foot entertainment complex that houses a bowling alley, theater, and a disco with rotating dance floor. “Million Dollar Listing Miami” star, Chad Carroll, says that marketing this impressive property will take a special touch. “There are very few buyers in the world that can afford something of this caliber and getting in front of them is key.” In previous years, estates such as this have been sold to international royalty, but local billionaires are making larger investments as of late.

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