The Fleur de Lys in Beverly Hills, the most expensive home for sale in the U.S., has remained listed at $125 million since it first went on the market in April 2007. Its owner won't budge on the price, bucking the nationwide trend of discounting top-of-scale housing. Home and condo sales throughout the Platinum Triangle of Beverly Hills, Bel Air and Holmby Hills have been suffering price cuts. The real estate listing search engine Trulia.com lists 112 Beverly Hills properties as having had price reductions since the first of the year. Though many are in the 4% to 8% range, some have experienced more substantial losses. A condo unit on North Palm Drive, for example, now lists at $1,995,000, a decline of 48%, which took effect June 27.
The Fleur de Lys mansion in Beverly Hills is modeled after Louis XIV's Vaux le Vicomte palace.
The bigger they are, the harder they fall may be a good way to sum up the luxury housing market. The Fleur de Lys once shared the "most expensive" distinction with Leona Helmsley's Dunnellen Hall in Greenwich, Connecticut. By October, Dunnellen Hall's listing had dropped to $75 million, $50 million lower. In May, casino mogul Donald Trump's Maison de L'Amitie in Palm Beach sold for $100 million, a drop of $25 million. The Fleur de Lys is owned by Suzanne Saperstein, the former wife of Texas billionaire David Saperstein. (She was awarded the house as part of a divorce settlement.) Sprawling over five acres, the home, despite being described as a "single-family residence," boasts 15 bedrooms and 16 bathrooms throughout its 53,812-square-foot living area.