With the Playboy mansion sold for $100 million and the legendary Owlwood estate transacted for $90 million, the ultra-luxury real estate market has lost two homes listed with triple digit pricetags. Which home will be the next to find a buyer?
Listed at $159 million, Le Palais Royal located on Florida’s Hillsboro Beach is one of the few homes on the market in the $150-million-plus range. The nearly 60,000-square-foot chateau being built by designer/developer Joseph Leone is reportedly inspired after France’s Palace of Versailles. It has been on and off the market since 2014.
The property spans approximately four acres and sits between the Atlantic Ocean and the Intracoastal Waterway. Leone has spent more than ten years designing and developing the castle and it is wildly extravagant in every detail. More than $7 million worth of 22 carat gold leaf went into the home and nearly every surface that can be gilded has been done. Palais has 13 water features—one of which is a 27-foot-tall waterfall.
The main house has 11 bedrooms, including a master suite with a private heated plunge pool on the balcony. The property also features the first 18-seat IMAX home theater in the world, a wine cellar with room for more than 3,000 bottles and a 900-gallon built-in aquarium. The gourmet kitchen is outfitted with a lavish La Cornue range.
The resort-style infinity pool has an enclosed double loop slide with LED lighting and suspended 25 feet above the pool is a glass-bottomed hot tub. The grounds also include a putting green, and an outdoor kitchen.
The property has nearly 400 feet of oceanfront as well as two deep water docks, one to accommodate up to a 220-foot yacht and the other up to a 140-foot yacht. The property provides garage parking for 30 vehicles and can accommodate parking for up to 70 vehicles. The listing is held by Mayi De La Vega and Joseph Leone of One Sothebys.