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Tags: 159 million | mansion | florida | on sale

$159 Million Mansion Up for Sale ... If Gold Leaf Doors Are Your Thing

$159 Million Mansion Up for Sale ... If Gold Leaf Doors Are Your Thing
(Twitter@WSJ)

By    |   Thursday, 12 November 2015 02:38 PM EST

A $159 million mansion has hit the market in Hillsboro Beach, Florida, and the massive estate features six waterfalls, two guesthouses, a wine cellar, balconies, fountains, and gates and doors coated in $3 million worth of 22-carat gold leaf.

Once construction is completed, the 11-bedroom mansion dubbed Le Palais Royal will boast an underground entertainment complex that will have an ice-skating rink, a go-cart track, a bowling alley, and a nightclub, the Miami Herald reported.

The Wall Street Journal called the 60,500-square-foot
mansion one of the costliest homes in America and modeled after the Palace of Versailles in France. It was originally on the market for $139 million last year but was later taken off.

The waterfront estate, which sits between the Atlantic Ocean and the Intracoastal Waterway, covers about four and a half acres, according to The Journal. Joseph Leone, the project manager, took the home off the market because he believed it needed more land and entertaining space.

Owner and construction mogul Robert Pereira, the founder of Massachusetts-based Middlesex Corp., initially planned to live in the home, but decided to sell the mansion instead.

But local real estate agents said that Le Palais Royal's price seems more on par with the coastlines of California rather than Florida.

"Crazy math," Stephen B. McWilliam, a broker at Florida State Realty Group in Fort Lauderdale, said of the price, according to the Sun Sentinel.

"You don't see $159 million in Hillsboro Beach, Florida," South Florida real estate agent Judy Trudel told the newspaper. "Hope they get it, but I would not be waiting around for it."

When it's completed, Le Palais Royal will have 17 bathrooms, a $2 million marble staircase, 465 feet of oceanfront, and an IMAX theater. The property's 492-foot private dock can accommodate a 200-foot yacht, according to the Sun Sentinel.

Many on social media took the mammoth home listing announcement in stride.




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TheWire
A $159 million mansion has hit the market in Hillsboro Beach, Florida, and the massive estate features six waterfalls, two guesthouses, a wine cellar, balconies, fountains, and gates and doors coated in $3 million worth of 22-carat gold leaf.
159 million, mansion, florida, on sale
374
2015-38-12
Thursday, 12 November 2015 02:38 PM
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