One man is building a house so enormous, and so absurdly lavish, that it may be the ultimate symbol of our age of thirst, excess and inequality. Asking price? $500 million.
The home is entering its fifth year of development. When finished this spring, it will be one of the largest private homes in America — 100,000 square feet — and, at an asking price of $500 million, will bill itself as the most expensive as well.
The property has 20 bedrooms. Seven of them are in a separate building for staff. The largest bedroom is a 5,500-square-foot master suite. It will have its own office, pool and kitchen; like the nightclub’s V.I.P. room, it is meant to be a private retreat from the rest of the house.
So it’s not being built for someone? It’s esentially a spec house. That’s beyond stupid. You’d think anyone dropping that much for a house would want to select everything in it. How many potential buyers are there?
Seems to be a demand for this crazy shit. I met Bob McIntire last night. Built the biggest house near Heavenly on spec… 16000sf sleeps 20. A techie wants buy it. Rents for $3000/n . Asking $14m not even on the water…
If yoi got this house as a Christmas gift, it would be a difficult decision to accept it or not. If you accept, the $6M annual property tax payment would be a difficult task. If you accept and sell, it would be not very nice, plus it may take years to sell.
LA is where the money is spent. People make money and then buy a 500M house in LA to spend their hard earned money.