Hillsboro Beach mansion heads to auction

Hillsboro Beach estate known as “Le Palais Royal” will be auctioned off. First listed for a then national record-setting price of $139 million in 2014, the Versailles-inspired compound was expanded and bumped its asking price to $159 million the following year. The listing was withdrawn in 2016.

Designed by Miami-based architect Denio Madera, the home—which also goes by the nickname “Playa Vista Isle”—includes 11 bedrooms, 22 bathrooms, a private IMAX theater, putting green, multiple pools and waterfalls, and enough 22-karat gold leaf detailing to make Auric Goldfinger blush. The roughly five-acre property stretches from the oceanfront to the Intracoastal Waterway and features dock parking for a pair of megayachts.

Concierge Auctions will start accepting digital bids on November 12 before concluding with a live auction scheduled for November 15. With no reserve in place, the auction will not require bidders to satisfy a minimum price for the transaction to go through. Current owner Robert Pereira, founder of a Massachusetts-based construction company, reportedly put more than $100 million into the estate’s construction, according to the Wall Street Journal.

Article Credit : The Real Deal South Florida