The gated estate in Beverly Hills that has topped the price chart of publicly listed homes for sale nationwide at $195 million since last year has lowered the bar, and its asking price, to $149 million.
Real estate entrepreneur Jeff Greene, who owns properties in Florida, New York and California, put his Palazzo di Amore on the for-sale market in November. A few months later, he also offered it for lease at $475,000 a month.
Greene bought the property in 2007 for $35 million and spent eight years expanding the Mediterranean-style mansion. The main residence has more than 35,000 square feet of living space for a total of about 53,000 square feet, including an entertainment complex he added and a detached guesthouse. There are 12 bedrooms and 23 bathrooms.
A floating-style glass-floor walkway over pools and lined by 70-year-old olive trees leads to the entertainment complex, which can seat up to 250 dinner guests. The 15,000-square-foot complex also has a 50-seat theater, a bowling alley and a disco/ballroom with a revolving floor, a DJ booth and a laser-light system.
The estate label, Beverly Hills Vineyards, produces 400 to 500 cases of wine a year. There's one wine cellar that can store 3,000 bottles and another that can hold about 10,000 bottles.
A 128-foot reflecting pool and fountain, a waterfall, a swimming pool, a spa, a barbecue area and a tennis court complete the grounds.
Joyce Rey and Stacy Gottula of Coldwell Banker are the listing agents.