A Beverly Hills mega mansion has become the most expensive property to ever be auctioned at $51million but it was well under the asking prices of $160million.
The Villa Firenze estate features 20 bedrooms and 23 bathrooms, and was previously owned by billionaire Air Lease Corporation CEO Steven Udvar-Hazy.
The property was listed in 2018 for $165million, but last summer the price dropped to $160million before the residence hit the auction block with no reserve.
According to the Los Angeles Times, the official sale price is $51million, but a deal that included furnishings from the home brought the price up to about $60million. The auction was held at the end of February and concluded last week.
Richard Klug of Sotheby’s International Realty represented the buyer, whose name has not been revealed.
Concierge Auctions carried out the sale, breaking their own 2018 record. In 2018, Concierge Auctions auctioned off a Florida mansion for a then-record $42.5million. That home was initially listed for $160million.
Udvar-Hazy purchased the estate in 1993. The home - which was built by architect William Hablinski sits on nine acres and can be accessed by its own street, according a previous listing from Hilton & Hyland.
It took more than seven years to build and is the largest in North Beverly Park - a gated community that is also home to actors Denzel Washington, Sylvester Stallone and Eddie Murphy.
According to the listing, the estate has expansive gates that open to a 30-car courtyard surrounded by 40-foot-tall Canary Island palms.
'Inside the mansion, approximately 20,000 square feet afford every possible amenity from high ceilings to large and formal gathering areas to small and intimate spaces,' the listing reads.
The property boasts a four acre backyard that offers views to a pool with a pool house, two-story guesthouse, tennis court, two bedroom guest house and a walking/jogging trail.
It also features marble and stone flooring, arched doorways and multiple fireplaces. There's even the possibility of expansion on a separate lot that comes with the home.
In a statement to CNBC in November, Udvar-Hazy said: 'We look forward to finding an owner as unique as this piece of real estate on auction day.'
Udvar-Hazy immigrated to New York from Hungary when he was young and started International Lease Finance in the early 70s.
The company was sold to American International Group in 1990 for $1.3billion.
Udvar-Hazy, who is considered one of the founders of the aircraft leasing industry, has a net worth about $4billion.
He and his wife Christine own two other mansions in Beverly Park.
