Today billionaire David Siegel went on The Today Show to tell the world that yes, the 90,000-square-foot passion project with a playroom, homework room, roller rink, 30-car garage, bowling alley, 10 kitchens, three pools, and two tennis courts—which was stalled when the financial crisis hit—is "back on track." See? The 45-foot-tall entry foyer that can swallow a four-story building will be finished, and America will soon crown Versailles as the largest private home in the country. Everything's fine.
Struggling to regroup amid the recession, Siegel and his wife, Jackie, nicknamed "the Queen of Versailles" thanks to a recent documentary by that same name, first listed the property in May 2010, asking $100M for the completed mansion and $75M as-is and, with no takers in sight, were forced to PriceChop it in March 2012 to $90M/$65M. Now the couple, who have been camping out in their 26,000-square-foot, 15-bedroom mansion two minutes away, are "finishing it to actually finish it," Jackie says, "but we do want to live in there." (Will they still entertain prospective buyers? Unclear.) The process from here on out could take up to three years, which leaves plenty of time for Siegel to send more angry emails to the employees of his company, Westgate Resorts, threatening to fire them, should money get tight again. Watch The Today Show coverage:
· All coverage of The Queen of Versailles [Curbed National]
· Inside Building of 90,000-Square-Foot Miami Palace [The Today Show]