Buyer pays cash for $110 million mansion

A Los Angeles mega-mansion has sold for $US102 million ($110 million) to a buyer who paid in cash.

The deal, as reported by the Los Angeles Times, followed a bidding war between three billionaires who were vying for the French-style estate on two hectares in Holmby Hills.

Called Fleur de Lys, the 12-bedroom home has 15 bathrooms, a pool, tennis court, a 50-seat cinema, accommodation for 10 staff and a house-sized wine cellar.

Holmby Hills sits alongside Bel-Air and Beverly Hills and forms what is known as the Platinum Triangle, an area revered for its wealth and uber-prestige real estate.

Built out of French Limestone, the 100-room house takes its inspiration from Vaux-le-Vicomte – a palace outside Paris – and boasts marble walls, gold-leaf panelled ceilings as well as rare antiques that are believed to be included in the sale.

The ballroom alone can accommodate 300 people.

The property was built in 2002 by billionaire David Saperstein and his then-wife Suzanne. The pair divorced three years later and the property made its way to the market in 2007 with a price tag of $US125 million.

It was most recently marketed by Kurt Rappaport of Westside Estate Agency as “one of the most spectacular homes ever built in North America”.

While the buyer has not officially been disclosed, it has been reported that a “French billionaire” bought the property. It is understood that the underbidders were from England and China.

The sale is a record for LA County, but the final price fell short of the national record of $US117.5 million. This was set last year for a mansion in Woodside, Northern California.

The result is nearly double Sydney’s record price of $52 million, set last year for a mansion called Altona in Point Piper.

However, Fleur de Lys could be on par with another Point Piper mansion, Elaine. Industry figures have suggested that the 6986-square-metre waterfront estate could sell for as much as $100 million.

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