Villa Leopolda Now Worth Only $102 Million?

November 18, 2009 - France

Villa Leopolda in Cap Ferrat, France, once the world's most expensive estate with a $750 million pricetag, is back on the market with a $650 million price cut! According to Forbes the Villa is now available for $102 million.

Situated on the French Riviera, this 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.

The turreted mansion and two guest houses sit in 20 acres of grounds with hundreds of olive, cypress and lemon trees tended by 50 gardeners.

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.

The magazine now places Villa Lepolda 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.

Via Luxist - Forbes (See the full list of most expensive homes)

Reader's Response

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.

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.

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