$650 Million Price Cut on Villa Leopolda? (Updated)

by Jared Paul Stern (RSS feed)
Nov 17th 2009 at 7:02PM

Villa Leopolda on the Cote D'Azure (above), once the world's most expensive estate with a $750 million pricetag, is apparently back on the market with an astonishing $650 million price cut, a new world record. The 11-bedroom, 14-bathroom mansion has 29,000 square feet of interior space that opens to manicured lawns and a swimming pool. The spiraling outdoor staircases, balconies and terraces have waterfront views and of the surrounding hillsides. Working fireplaces, a sauna, outdoor kitchen and pool house are other features. As we noted back in February, Russia's richest man Mikhail Prokhorov had reportedly agreed to purchase the Villa for $750 million but later backed out of the deal, forfeiting a $55 million deposit. In May we reported that the recession had caused the estate's value to plunge significantly. Owner Lilly Safra did not re-list the property right away, but according to Forbes the Villa is now available for $102 million. The magazine now places it as the 4th most expensive estate in the world, behind No. 1, the Spelling Manor at $150 million; No. 2, Fleur De Lys at $125 million; and No. 3, Updown Court at $117 million.

UPDATE: Leopolda's owner Lily Safra now says the Forbes report was "pure fantasy". "The residence is not being sold and was never offered for sale," Safra's rep Seth Goldschlager insists. Forbes has now removed Leopolda from its list of the world's most expensive estates. Albemarle House in Charlottesville, Va., listed at $100 million, is now the 4th most expensive estate in the world according to the magazine, behind No. 1, the Spelling Manor at $150 million; No. 2, Fleur De Lys at $125 million; and No. 3, Updown Court at $117 million.

Tags: Fleur De Lys, FleurDeLys, Forbes, France, Mikhail Prokhorov, MikhailProkhorov, Spelling Manor, SpellingManor, Villa Leopolda, VillaLeopolda, worlds most expensive, WorldsMostExpensive

Filed under: Estates, Wealth

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Reader Comments (Page 1 of 1)

Jay Nov 17th 2009 7:30PM

The house, Villa Leopolda, pictured in the Forbes article, looks nothing like La Leopolda, which is the house that you have pictured above.
Are there two houses with similar names?

Ravi Nov 18th 2009 12:14AM

Forbes has it wrong, the Villa Forbes mentions is Villa Schiffanoia

livelovelaugh44 Nov 19th 2009 12:07AM

Yea I know... you can have the world and if there is no one to share it with it means almost nothing. Its great to always start off haveing a good friend. A true loyal friend for starters.

jim Nov 18th 2009 9:27PM

I am glad I waited. I could never had afforded it at the old price. LOl

Arch. Nov 18th 2009 10:34PM

Am I the only one who thinks it is ugly? Very busy and up and down and cramped. Trees are nice though...and the candid shot of the tacky lions "peaches".

Dale Nov 18th 2009 11:48PM

Nice pool. What is it filled with? Dom Perignon? Anyone with the kind of money to afford that place should find a cure for cancer first.

Seth Goldschlager Nov 27th 2009 6:35AM

Dear Editor,

I provide media assistance to the Edmond J. Safra Philanthropic Foundation and Mrs Lily Safra.
I am writing to you in that capacity about a recent article you posted which asserts that the Villa Leopolda is on the market for a reduced price.

That article is false and the purported price of $102 million is also pure fantasy.
The residence is not being sold and was never offered for sale.
A purchase proposal was spontaneously-and repeatedly- made by one potential buyer and was finally accepted last year. However, the purchase was never completed.

As you have probably seen, Forbes Magazine, which you cite as the source of this erroneous information, has published a correction of the false and potentially damaging information it was responsible for putting on its website: http://www.forbes.com/2009/11/23/comment-expensive-homes-lifestyle-real-estate-homes.html

Sincerely,

Seth Goldschlager