Categories: South SalemWestchester NY

L.A.’s ‘Unsellable’ Fleur de Lys Just Sold for $102M… in Cash | South Salem Real Estate

Nobody freak out, but it seems that Los Angeles’ Fleur de Lys, the estate that broke records when it hit the market in 2007 for $125M and, despite years of floundering, stuck stubbornly to its exorbitant ask, has sold for $102M, a record for L.A. county. What’s more, the “trophy estate,” as the L.A. Times dubs it, apparently sold amid a bidding war that engaged three billionaires, with the winner (previously reported to be businessman and “junk bond king” Michael Milken) agreeing to pay all cash for this 100-room mansion, as well as its rare Louis XIV and Louis XV antiques.

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Designed by Richard Robertson III and completed 2002, Fleur de Lys comes with 35,000 square feet of marble walls and spindly furnishings, all spread across 12 bedrooms, 15 bathrooms, accommodations for a 10-person staff, a 50-seat screening room, and a three-bedroom caretaker’s house. As the Los Angeles Times writes, “The 3,000-square-foot wine cellar and tasting room is larger than most American houses, as is the manager’s house.” The jumbomanse was built for billionaire David Saperstein and his then-wife, Suzanne. After David’s much-publicized affair with their Swedish nanny, the two went through a much-publicized divorce that left his ex with the palace. This, of course, all went through in 2007, when a recession made it extremely difficult to sell megalomansions.

Much like the largest private residence in the country, Fleur de Lys took inspiration from Versailles—practically a requirement for homes of this stature, apparently. The property first hit the market in 2007, slinked off the market in October 2009, and again listed for its original ask—a staggering $125M—in July 2011.

Thought it was once rumored to have sold to Formula One heiress Tamara Ecclestone, it seems Fleur de Lys actually went to Milken, a businessman/philanthropist and onetime so-called “junk bond king.” The buyer was initially identified as an anonymous French billionaire, but the paper has since uncovered that “taxes will be mailed to the Milken Institute in Santa Monica.”

http://curbed.com/archives/2014/03/31/las-unsellable-fleur-de-lys-just-sold-for-102m-in-cash.php

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.