From the “Who Cares What it Costs, I Have Too Much Money” files:
Villa Leopolda (aka La Leopolda), an estate in the French Riviera’s Cote d’Azur, built by King Leopold of Belgium in 1902, has been reported today to have been sold for $750,000,000 to a “mystery Russian billionaire”.
Forbes questions whether this is even true as apparently this very property has been subject to much speculation in recent years ”” including a rumor that Bill Gates purchased the property for a mere $110M in 2005.
It would seem that despite a desirable location, and an almost impossible to find 20 acre parcel, the rumored $750M price tag is a bit steep. Properties similar to this one are available for only $60 ”“ $150 million.
Your mortgage: only $3,800,000 per month
The Wall Street Journal blog pegs a mortgage for this guy at $3,792,408 per month (assuming 20% down and a 6.5% rate). If the sale indeed happened, a more likely scenario is the buyer paid cold hard cash.
While there is no question this is one nice spread, one has to ask; is any home really worth 750 million bucks?