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At .75M, America’s Most Expensive Foreclosure Is a Massive Houston Mansion

Houston takes the … honor? A huge country club estate in the city’s River Oaks neighborhood has fallen into foreclosure, and the bank is willing to let it go for $9.75 million. The nearly eight-digit price tag makes the home America’s most expensive foreclosure.

The home was listed earlier this year for $15.9 million, but the reduced price is expected to spark a buyer into action.

“It’s listed at a very aggressive price for such an exceptional property,” says listing agent Claudia Fathivand of Nan Properties. “It’s been well maintained, and is in move-in condition for someone of this particular taste.”

River Oaks is one of Houston’s finest neighborhoods—Fathivand compares it to Beverly Hills—and the mansion is just a block away from the prestigious and exclusive River Oaks Country Club.

90210 or not, the bank-owned mansion measures just over 15,000 square feet, and features a wealth of amenities including meticulously manicured grounds, a circular motor court leading to a five-car garage, a ballroom, an elevator, a massive dining room, an extensive wine cellar, and two laundry rooms.

However, the mansion’s pièce de résistance is the ornate natatorium—an elaborate indoor heated pool room featuring bronze columns, French doors, paneled walls, and a windowed gallery running along the perimeter.

The overhead ceiling features a mural of blue skies and fluffy clouds, so it feels like the space is open to the outdoors.

But wait … there’s more. There’s also a massive projector screen and high-end audio system in the natatorium. Who needs to go to a drive-in when you have your own swim-in film festival?

All five ensuite bedrooms are located on the second floor with access to grand terraces.

The mansion’s bathrooms are true standouts. The master bath features green marble and cherrywood paneling, and a guest bathroom has a shower made of sparkling black granite. There are faucets of gold, showers for four, harlequin tiling—even the pool bathroom has a gorgeous green and blue tile floor depicting ocean waves.

Other luxe features include a gym with a mirrored ceiling, a double-island kitchen with a Wolf gas range and SubZero refrigerators, and an ornate breakfast room that could easily pass for a formal dining room. A Tiffany-style glass dome tops the mansion off.

Fathivand, who also has the listing for the Houston home with one of the world’s largest and most lavish closets, doesn’t think this foreclosed mansion will last long on the market.

“It’s been listed as a foreclosure for about three weeks, we’ve had a lot of interest, and all sorts of interesting feedback,” says Fathivand. “Some people want to add an outdoor pool, some have said they’d build a new ballroom where the pool is, some have even considered tearing it down and building something new.”

It’d be a shame to scrap all the mansion’s fabulous finishes and start from scratch, but the teardown option is a testament to the property’s valuable location. It’s simply up to a visionary buyer to make a move on this abandoned mansion.

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Source: Real Estate News and Advice – realtor.com » Real Estate News