Just Imagine the Mortgage Paid by Lakshmi Mittal on the World’s Most Expensive House
Author: Joshua Dorkin • URL: http://www.biggerpockets.com/May 23rd, 2008 •
The World’s Most Expensive House
London’s paper, The Sun, today shares with us the rumored sale of the Most Expensive House in the World.
The home is located on “Billionaires Row” in London and is set to sell for a WHOPPING £117million or approximately $232 million to Lakshmi Mittal, the steel Tycoon, and one of the world’s richest men, says the Sun.
He is believed to be close to exchanging contracts with owner Noam Gottesman, 47, a US-born financier.
The home in Kensington Palace Gardens, West London, Princess Diana’s former street, is being sold furnished and with an art collection. It works out at an astonishing £8,000 per square foot.
For a picture of the property, visit the link to the article above.
According to the Daily Telegraph:
The detached residence is next door to the Israeli embassy on Palace Green, an extension of Kensington Palace Gardens.
The four-floor house with at least five luxurious suite bedrooms plus extensive servants quarters is described as an institutional neo-Georgian building typical of a type built from the 1920s onwards. It is being sold furnished and with an art collection.
How Do You Buy Such an Expensive Home?
So . . . do these Billionaires pay cash for homes like this, or are they financed?
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Joshua Dorkin
Charles Feldman
Ted Karsch.
Richard Warren
interesant, i like that
I would imagine it was financed. He’s buying it for his son, so I would expect that there’s some clever financing going on that will benefit Mittal.
That having been said, who really needs a £117million pound house? I love Kensington - it’s one of my favourite parts of London, but that’s ridiculous.
I think the more important question is… Do they get to write off all the interest? Or is there a cap?
That must be one shiny looking house.
Yeah, but who wants to live in a museum? Bet you can’t put your feet on the coffee table!
For that huge price it’s got to be financed. Wow. I wonder how’s the feeling to live in that very expensive house.
-Jan