A House With Room to Roam - or to Take a Long Hike In

By
Education & Training with REAZO

big, large, mansion, rich, money, real estateAs long as you're going to be thinking anyway, think big. Donald Trump

 

THIS IS A CASE of someone thinking a bit too big - or perhaps even a lot too big. It also is a case of even the rich sometimes not having enough money to build their dreams.

So far, David Siegel, the founder of Westgate Resorts, has spent 50 million on his mansion at Windermere, Fla. According to a recent article in Fortune magazine , the sprawling half-finished home has been put up for sale for a whopping $65 million (that is reduced from the $75 million that was being asked). He started work on the house in 2006.

I suspect Siegel is looking for a buyer with a large family. The 90,000 square foot house may be the largest single family home in the United States. The home reportably includes:

  • 22 bathrooms
  • 10 kitchens
  • 13 bedrooms
  • A bowling alley
  • Two movie theaters (One for the kids and an adult theater modeled after the Paris Opera House.
  • A roller skating rink
  • 20-car underground garage
  • 160 windows

The home is made of concrete and will be covered in Italian marble. Even its doors are big. The front doors are 20-feet high and made of Brazilian mahogany. The wine cellar can hold 20,000 bottles of wine and a room for tasting and Sea World has been contracted to develop the giant aquarium.

On the estate's 10 acres of waterfront grounds there also are plans for a baseball field, a half-acre deck, three pools, waterfall and grotto, formal garden, two tennis courts and plenty of room to roam.

Reflecting what Siegel must have been thinking when he designed the house, it is called Versailles.

Siegel stopped work on the house three years ago after the financial crisis hit his business hard and he put it up for sale last year. According to Fortune, Bank of America holds the mortgage on the house and currently is threatening to foreclose on the property.

Not to worry, Siegel has said, adding he is raising the rest of the money needed to finish the property.

To view photographs of the house and to read more about it, go to the home's web site.

 

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Comments (2)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I figured Bank of Amrica was involved int his one. Only in America

Apr 10, 2012 11:14 PM
Angela Lyons
REAZO - Missoula, MT
Reazo.com for home buyers and sellers.

Harry. Thanks for the comment. Yeah, maybe after BoA forecloses on it they can rent it out.

Apr 10, 2012 11:17 PM

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