Who says that the real estate market is still in ruins? After seeing the estate ‘Fleur de Lys’ sell for a record $102 million, it doesn’t seem like everyone is struggling to sell their house. At that price, the house is the highest sale ever recorded in L.A. County, after three billionaires went head-to-head byway of a bidding war for the five-acre estate, with the winner closing in 10 days with an all-cash offer that also earns them some of the ridiculously-priced antique furnishings as well.
Sold by socialite Suzanne Saperstein, the 50,000-square-foot home was custom built in 2002 with her former husband David Saperstein, who founded Metro Networks. After divorcing three years after the home was complete, the property was first listed in 2007 at the peak of the housing crisis. But, as Saperstein proved, good things come to those who wait, as she ended up with a deal that is unprecedented, even in a wealthy town like Los Angeles.
So who is the mystery buyer of the property? Details haven’t been confirmed, but after some digging around, it appears to be businessman, philanthropist and “junk bond king” Michael Milken. While the property did break the record for a housing purchase in L.A. County, it actually doesn’t set the U.S. record, which was attained last year when a mansion in Northern California went for an astonishing $117.5 million.
Still, the transaction does beat the 2000 record of $94 million that was held by Dole Food billionaire David Murdock, when he sold his Bel-Air property to Gary Winnick. The estate is complete with a 3,000-sqaure-foot wine cellar and tasting room, two motor courts, a swimming pool and has the allure of being featured in a few commercials like Audi’s 2008 Super Bowl and the movie The Green Hornet in 2011, making it, no doubt, one of a kind—even if the price tag was over $100 million.
Photo by David Livingston/Getty Images
