Largest House in America for Sale, But Unfinished

April 10, 2012

America’s largest house, at 90,000 square feet, is up for sale for $65 million in Windermere, Fla., but the home is only about 60 percent complete. The residence was originally listed last year for $75 million and recently has been reduced to $65 million.

The home’s owner, David Siegel — the founder of Westgate Resorts — had stopped construction three years ago on the home after the financial crisis dampened his time-share business. 

Bank of America, which holds the mortgage, reportedly has threatened to foreclose on the home. Siegel has invested $50 million in the home so far and vows to finish it.

The lakefront palace was nicknamed “Versailles,” after the lavish estate in France built by King Louis XIV in the 1600s, by Siegel and his wife. Siegel’s supersized home features 22 baths, 10 kitchens, and 13 bedrooms. Some of the extras: A bowling alley, a 20-car underground garage, a video arcade and roller-skating rink, and a stained-glass dome that took several years to construct. 

“Our house is like a convention center compared to the other houses here,” says Siegel.

Source: “America’s Biggest House Is on the Block,” Fortune (April 10, 2012) and “Versailles, the Would-be Biggest House in America,” Bloomberg Businessweek (March 15, 2012)