The most expensive US home...
For sale: prestigious Beverly Hills mansion set in 6.5 acres, offering 29 bedrooms, three swimming pools, tennis courts, state-of-the-art movie theatre and disco.

The price? $165-million, or some R1.155-billion.

The former home of legendary newspaper magnate William Randolph Hearst and Marion Davies was listed for sale this week with a price-tag that makes it the most expensive residential real estate listing in the United States.

The Los Angeles Times reported on Tuesday that the H-shaped, pink stucco building dubbed Beverly House by Hearst offers everything that any self-respecting billionaire could ever want.

Lifestyle change

The sprawling, secluded compound features six separate residences — four houses, an apartment and a cottage for staff.

"This is the kind of home that comes on the market once in a generation," Jeff Hyland, a Beverly Hills real estate broker, told the newspaper.

The property's seller is attorney-investor Leonard Ross who bought the estate in 1976 but is now seeking a "lifestyle change", property broker Stephen Shapiro was quoted by the paper as saying.

The asking price outstrips the $155-million (or R1.085-billion) being sought by developers of an estate in Montana as well as the $135-million (R945-million) of an Aspen, Colorado estate that belongs to Prince Bandar of Saudi Arabia.

The $100-million barrier

History indicates that the Hearst home may sit on the market for a while. In two years, six residential properties have listed with nine-figure price tags — but none has yet broken the $100-million barrier.

The record remains the $94-million paid by former media mogul Gary Winnick in 2001, the Times reported.

Built in 1927 for a banker, Hearst purchased the property 20 years later for around $120 000, stuffing the property with life-size paintings of actress Davies and decorating the garden with statues from his Hearst Castle in northern California.

It was the home where Hearst spent his later years, dying there in 1951 at the age of 88.

Article from: www.iafrica.com