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.
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 separate 'his' and 'hers' lounges: 'Hers' has rare Delft tiles imported from Europe and a porcelain mosaic focal wall.
The home's furnishings and antiques included an 1879 Steinway grand piano, four Rembrandt paintings, and a wine cellar door from Hearst castle.
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