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Most Expensive Home On West Coast--'Palazzo di Amore'--Price Chopped To $149 Million

This article is more than 8 years old.

Real estate billionaire Jeff Greene has just slashed the asking price for his Palazzo di Amore estate in Beverly Hills to $149 million, a nearly 25% cut.

When it debuted on the market in November, Greene's home was the most expensive home for sale in the U.S. The Palazzo's record asking price has since been eclipsed by a $200 million asking price for a Florida compound belonging to the billionaire Ziff family.

Greene's home lies on 25 acres overlooking Los Angeles, with a 35,000-square-foot main home plus a 15,000-square-foot entertainment center and a separate guest home, containing a total of 12 bedrooms and 23 bathrooms. The Mediterranean-style spread has a working vineyard that produces six types of wine, and will soon include a two-acre organic farm. Joyce Rey and Stacy Gottula, both of Coldwell Banker Previews International,  have the listing.

Palazzo di Amore has a first floor with a chef’s kitchen with a commercial size walk-in refrigerator, as well as a secondary staff kitchen, butler’s pantry, two staff rooms, a three-car attached garage and two private offices with separate entry. The living room, dining room, breakfast room, game room, office and family room all open onto the grounds. Including the separate guest house the living space totals 53,000 square feet. There is garage parking for 27 cars and space for up to 150 cars on site. The property also produces its own private wine: Sangiovese, Syrah, Cabernet, Merlot, Rose, and Sauvignon Blanc.

The second floor of the main house has two wings, one with a guest suite and the 5,000-square-foot master suite, and a bath with a Turkish-style spa. The second wing has four additional bedroom suites, including one VIP suite with silk-upholstered walls and a full kitchen. The grounds have a 128-foot reflecting pool and fountain, as well as a swimming pool, a spa, a barbecue area and a tennis court.

The massive Mediterranean-style spread was originally designed by architect Bob Ray Offenhauser and designer Alberto Pinto.

To date, the most expensive home sold in the U.S. is the $147 million East Hampton spread picked up by Jana Partners founder Barry Rosenstein last year, followed by Copper Beech Farm for $120 million in Greenwich, Conn.