HOUSE OF THE DAY: Tommy Hilfiger Co-Founder Sells $US100 Million Lake Tahoe Vacation Home At A 50% Discount

After seven years on the market, former Tommy Hilfiger CEO and co-founder Joel Horowitz has sold his gargantuan Lake Tahoe estate for $US48 million, significantly under the initial $US100 million asking price.

According to The Wall Street Journal, a holding company called Tranquil Investments LLC purchased the property.

After lowering the price to $US75 million in 2011, Horowitz proposed a deal to potential buyers: He said he would personally finance the purchase for a qualified buyer.

The 210-acre estate, called Tranquility, is the largest on the Nevada side of Lake Tahoe. In addition to a 27,000-square-foot mansion, it has an indoor glass mosaic pool, private lake, two par-3 golf holes and an indoor golf simulator, horse stables, a wine cellar, a cinema, and separate guest and staff residences.

As 210 acres, Tranquility is the largest private estate on the Nevada side of Lake Tahoe.

It's incredibly private -- the perfect getaway for a billionaire.

In addition to a 27,000-square-foot main home, there are guest and staff quarters and a 16-car garage.

The home comes with its own private lake, called Tranquility, as well as a boat house.

There's also a horse stable, two par-3 golf holes, and an artist's cabin on the property.

There are nine bedrooms in total, five in the main house.

The grand staircase was made using the original blueprints for the SS Titanic.

The chef's kitchen has hand-carved wooden beams and its own fireplace.

It would be fun to throw a party in the expansive billiards room.

The home comes with separate 'his' and 'hers' lounges: 'Hers' has rare Delft tiles imported from Europe and a porcelain mosaic focal wall.

'His' is a cigar lounge modelled after New York's St. Regis Hotel.

Sweet cinema! It seats 19.

There's a 100-foot indoor pool.

It's perfect for year-round use, even when the Tahoe temperatures drop below freezing.

The dining halls comes with service for 14.

The home's furnishings and antiques included an 1879 Steinway grand piano, four Rembrandt paintings, and a wine cellar door from Hearst castle.

The estate is adorned with French, Italian, and American sculptures and figurines.

And the wine cellar has space for 3,200 bottles.

Now see a stunning home that's still on the market.

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