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September 23, 2014 / Maggie Mercer / 0 Comments / Luxury Home Market

South Florida Mansion Most Expensive on the Market

***UPDATED: September 17, 2015*** Last year, this ultra-luxury mansion, located on Hillsboro Beach, was listed as the most expensive home in the United States. Still under construction, the estate, known as Le Palais Royal, was listed for $139 million. While it did not hold the title long, the breathtaking, over-the-top project is still being completed and the new owners are actually expanding. The property to the north has become part of the parcel and rumor has it that a guesthouse and underground sports complex are being added to the laundry list of glitzy features. Architect Denio Madera has photographically documented the construction, and you can check out some of his images here.

$139 million. That’s how much money it would cost to take the most expensive property available, off the market, and it’s right here in South Florida. Le Palais Royal is an 11-bedroom, 17-bath, 60,000 square-foot mansion that isn’t even finished yet, according to a recent Forbes article.  But this just means that the new owner can put their finishing touches on the massive home, which lies on 4.4 acres in Hillsboro Beach, halfway between Fort Lauderdale and Boca Raton. Rumor has it there are two other, more expensive properties currently for sale (both located in Southern California), but both are unofficial as they are being marketed without the MLS. Apparently, they both have the same price tag of $150 million.

So what does $139 million buy? The amenity list is quite extensive. Some of the most impressive features include:

  • 465 feet of beach on the Atlantic Ocean
  • 492-foot private dock
  • Underground garage with 30 car capacity
  • IMAX theater, the nation’s first, with a 50-foot by 23-foot screen and seating for 18
  • 3-D television set in a 1,300-gallon fish tank with live coral and sea creatures in main living room
  • 26-foot, gold-leaf plated fountain at entrance
  • $2 million, gold leaf marble staircase in the entryway
  • 4,500 square-foot infinity pool with six cascading waterfalls, LED-lit, double-loop water slide, a fire pit (yes, in the middle of the pool), and a swim up bar
  • Infinity-edged jacuzzi
  • Resort-style spa and massage room
  • Fitness center and putting green

The home has been under construction for seven years and is expected to be complete in late 2015. While the property is magnificent, some local real estate experts are skeptical of the $139 million price tag. Earlier this year, a nearby home was sold for $17 million, which is the highest price ever paid in Broward. The only property sold in recent years that comes close to that price point happened in 2008 when Russian billionaire, Dmitry Rybolovlev, purchased Donald Trump’s Palm Beach mansion for $95 million. But the luxury real estate market in Miami is hotter than ever, and with buyers coming from all over the world, anything is possible.

 

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