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?
Article Author:
Joshua DorkinJoshua has written 539 articles for us.
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BiggerPockets.com was founded by Joshua Reed Dorkin in August 2004. An entrepreneur, web designer, real estate investor, and one-time realtor, Joshua was not satisfied by the online offerings of other real estate sites out there, and decided to build one himself. Mr. Dorkin's vision for BiggerPockets has helped to propel it into becoming one of the top real estate destinations online. His vision for the site and its future has brought national press attention to both Mr. Dorkin and to BiggerPockets.
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{ 6 comments… read them below or add one }
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