After a $30M Price Cut, the Most Expensive New Listing Is … $165M!

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It’s hardly a bargain. However, the most expensive new listing on realtor.com® this week is now available for the deeply discounted price of $165 million. It was previously listed for $195 million.

OK, back to reality: Even with the dramatic price slice, it’s still one of the priciest homes available. Once the second most expensive home in the country, it moved down a spot, to No. 3 overall.

Behold the gorgeous Gemini estate in Manalapan, FL.

The storied estate is straight out of the pages of “Lifestyles of the Rich and Famous.” (Insert your best Robin Leach impression here.) The Ziff family—among America’s richest families, according to Forbes, with a net worth of $14.4 billion—owns the compound.

While they aren’t likely in desperate need of the windfall a sale would bring, they know a real estate gold mine when they see one. Perhaps a price chop will put it in the sweet spot for a sale.

Aerial view

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So let’s take the two-dollar tour, shall we? And in case words won’t cut it, check out the video.

If you’re a fan of South Florida, everything about this place is a showstopper. Close to Palm Beach, the 15-acre ocean-to-lake estate offers 1,200 feet of dune-lined beach on the Atlantic and 1,300 feet of frontage on Lake Worth Lagoon, creating a private island of sorts.

Perched on a dune with 360-degree views, the family compound is “the only home on the ocean beach for miles, yet just minutes from Worth Avenue,” according to the listing.

The waterfront mansion lacks for nothing. With some 33 bedrooms in the main house, guesthouse, two beach cottages, and staff quarters combined, the place is designed as a resort that can comfortably accommodate dozens of guests, friends, and family.

Covered terrace

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The 62,200-square-foot main house offers formal and informal living and dining areas, a media room, library, office, multiple terraces, and a wine cellar.

Informal family room

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There are plenty of recreational features to enjoy, including a swimming pool, PGA-standard golf area, regulation tennis court, half basketball court, plus a gym and spa.

Living room

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Picturesque paths lead to the beach on the ocean as well as to a dock and pier on the lake for boating and water sports. The tropical climate allows for “extensive botanical gardens that showcase nearly 1,500 tropical species that replicate a ‘walk through the Caribbean,’” according to the listing.

Pool

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Built in the 1940s, with many additions and renovations since, the property once belonged to socialite Gloria Guinness, who famously hosted the Duke and Duchess of Windsor at the estate.

The property was purchased decades ago by William B. Ziff Jr., of the Ziff-Davis publishing empire, according to the Wall Street Journal. Although Ziff made the home his primary residence, since his death in 2006, his sons haven’t used it and don’t intend to live there, so they’ve worked to sell it.

The place first went on the market about two years ago, making a splash as one of the priciest homes in the country at $195 million. The newly lowered price is most likely intended to draw renewed interest to the site. It certainly grabbed our attention.

Todd Peter of Sotheby’s International Realty has the listing along with Cristina Condon.

The post After a $30M Price Cut, the Most Expensive New Listing Is … $165M! appeared first on Real Estate News & Advice | realtor.com®.

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