Famed Beverly Hills estate was previously on the market for $149 million
If the best rooms at the Beverly Hills Hotel are booked this summer, perhaps you might want to try your luck up the road. The ultra-pricey Mediterranean-style villa known as Palazzo di Amore is now on the market as a rental for $375,000 a month, according to the listing.
The 25-acre estate belongs to real estate investor Jeff Greene, who is known for shorting subprime mortgage-backed securities in the run-up to the 2008 financial crisis.
When Palazzo di Amore first hit the market in 2014 at $195 million, it was the most expensive home for sale in the U.S. After the property failed to land a buyer, the billionaire shaved $46 million off the asking price. The listing eventually expired, and Mr. Greene told CNBC that he was planning to turn at least two acres into an organic farm.
It was not clear why the property is now listed for rent. The listing agent was not immediately available for comment.
Equipped with vineyards, the estate produces 400 to 500 cases of wine each year. In addition to 12 bedrooms and 23 bathrooms, which include a 5,000-square-foot master suite, the main residence has a two-story entryway, a ballroom with vaulted ceilings and two wine cellars that can store up to 13,000 bottles.
Outside, there’s a reflecting pool, a swimming pool, a tennis court and manicured gardens. A 15,000-square-foot entertainment complex features a ballroom with a revolving dance floor, DJ booth and laser-light system. There’s also a bowling alley, a game room and a theater that can seat more than 50. The property includes a guesthouse.
While Palazzo di Amore is no longer listed, it’s still available for sale off-market, according to a spokeswoman for The Agency, the real estate firm representing the property.
Source: mansionglobal.com Photo: Marc Angeles