$230 Million: World's Most Expensive Home Sells In London

A MANSION in London is set to sell for £117million - making it the world's costliest home. The palatial residence, on a street dubbed Billionaires' Row, is believed to have been bought by Britain's richest man, steel tycoon Lakshmi Mittal.

He is believed to be close to exchanging contracts with owner Noam Gottesman, 47, a US-born financier.

The home in Kensington Palace Gardens, West London, Princess Diana's former street, is being sold furnished and with an art collection. It works out at an astonishing £8,000 per square foot.

Mr Mittal, 57, who denies being the buyer, has been looking to splurge some of his £27.7billion fortune on a home for son Aditya, 32. Mr Mittal moved into the half-mile, tree-lined private avenue four years ago after paying £67million for a 12-bedroom home.

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The Times also reported Mittal approached Gottesman:

Property sources told The Times that the family of Lakshmi Mittal, the billionaire steel magnate and Britain's richest man, had made an approach for Mr Gottesman's home, which is next door to the Israeli Embassy.

Mr Mittal's son Aditya, 32, has been searching for a London house of his own over the past few months but wants to stay near his family. Mr Mittal lives in Kensington Palace Gardens, having paid £57 million in 2004 to buy the house from Bernie Ecclestone, the Formula One chief.

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See a slideshow of London's trophy homes.

The home:

It's good to be Lakshmi Mittal:

Comments

[primordialsoup]

It's not just the price. It's the size. Who needs a 29.000 sq. ft. house?

[primordialsoup]

Oops. Funny math. It's only 14, 625 sq. ft. Much more reasonable.

[Sparty1]

Well it's not like the son of a billionaire can live in my 300k neighborhood. I mean he does have some standards.

[realitycheck7]

what makes that house worth 230 million bucks?

I've seen much more impressive spreads for a lot less dough

I guess they are trying to create an artificial market in that area to close it off to everyone but the world's Billionaires.

I guess when you have 50 billion bucks you don't care an ounce about real value

[Ariadne]

Shhh, don't let everyone see your ignorance.

[realitycheck7]

care to explain?

or are passive aggressive insults on strangers your only release in life?

[dawlishgal]

I don't think the neighborhood is as posh as Belgravia or maybe even as Mayfair, and I have seen houses in other neighborhoods that look equally grand as that one. But, if the place has lots of rooms I would camp out there rather than pay 500 bucks a night for a hotel room the size of a closet. If money is no concern and the father wanted to get the son a nice house near his own, fine with me. At least it gets a lot of money into circulation.

I don't spend much time in London anymore...­just too expensive. We get a self-catering facility in somewhere like Somerset or Devon, then take day trips. We do our own cooking, laundry, and straightening up, and each of us gets to have our own room (usually 3 of us).....we can get a whole week of that kind of facility for the same price as for half of a tiny room in London (at least we could before the latest plunge in the value of the American dollar).

[dawlishgal]

I meant to say that we can get a self-catering facility for a WEEK for the price of one day in London.

[Annette]

What makes it so expensive.
Location, location, location.
What controls the price of real estate is supply and demand. London has enormous demand, especially in high dollar locations. It has very limited supply and almost no way of increasing it.

There is no such thing as real value in real estate. Real estate's value is based on what a willing buyer and a willing seller agree upon. It is always in flux. A value that is good today is not good in a week.

[Stirner]

$230 million for a fine home? Why not? You think it might be better to hand it over to the government? Let's see, that would give Georgie Boy another 1/2 hour or so in Iraq? So, a pile of smoking rubble with a few dozen poor Iraqis left to die OR a good-looking and well-kept up home. Good for Mr. Mittal.

[Rashnak]

$230 million = 1/2 hour in Iraq???

Let's see, at that rate it's 11 billion a day, or $4 trillion a year!!

The war has been going 5 years- so apparently by your math we have spent $20 trillion?

Boy, that war is really much more costly than I thought! Or... perhaps someone is exagerating to make a political point out of something that is definately NON-POLITICAL!

WTH does Mr. Mittal have to do with the war?

[Rockerbabe]

That much money for a house, when so many are dying of starvation, disease and exposure to the elements, not to mention, war and genocide! Mr. Mittal and Mr. Gottesman should be ashamed of themseves for such selfishness.

[Machu]

Ah...dang Commie!

[ProfessorDuh]

Perhaps, if we keep going in our current direction, we can reach the ideal Republican fascist state in which one person owns $100 trillion, and everyone else starves. The Bush-Cheney vision of utopia!

[VivaZapata]

Rhythms of Revolution (part one)
By Phil Ochs

In a building of gold, with riches untold,
lived the families on which the country was founded.
And the merchants of style, with their red velvet smiles,
were there, for they also were hounded.
And the soft middle class crowded in to the last,
for the building was fully surrounded.
And the noise outside was the rhythms of revolution.

Sadly they stared and sank in their chairs
and searched for a comforting notion.
And the rich silver walls looked ready to fall
As they shook in doubtful devotion.
The ice cubes would clink as they freshened their drinks,
wet their minds in bitter emotion.
And they talked about the rhythms of revolution.

We were hardly aware of the hardships they beared,
for our time was taken with treasure.
Oh, life was a game, and work was a shame,
And pain was prevented by pleasure.
The world, cold and grey, was so far away
In the distance only money could measure.
But their thoughts were broken by the rhythms of revolution.

The clouds filled the room in darkening doom
as the crooked smoke rings were rising.
How long will it take, how can we escape
Someone asks, but no one's advising.
And the quivering floor responds to the roar,
In a shake no longer surprising.
As closer and closer comes the rhythms of revolution.

[VivaZapata]

Rhythms of Revolution (Part Two)

Softly they moan, please leave us alone
As back and forth they are pacing.
And they cover their ears and try not to hear
With pillows of silk they're embracing.
And the crackling crowd is laughing out loud,
peeking in at the target they're chasing.
Now trembling inside the rhythms of revolution.

With compromise sway we give in half way
When we saw that rebellion was growing.
Now everything's lost as they kneel by the cross
Where the blood of christ is still flowing.
To late for their sorrow they've reached their tomorrow
and reaped the seed they were sowing.
Now harvested by the rhythms of revolution.

In tattered tuxedos they faced the new heroes
and crawled about in confusion.
And they sheepishly grinned for their memoroes were dim
of the decades of dark execution.
Hollow hands were raised; they stood there amazed
in the shattering of their illusions.
As the windows were smashed by the rhythms of revolution.

Down on our knees we're begging you please,
We're sorry for the way you were driven.
There's no need to taunt just take what you want,
and we'll make amends, if we're living.
But away from the grounds the flames told the town
that only the dead are forgiven.
As they crumbled inside the rhythms of revolution

[gcallaghan]

nice. source?

[pahpah25]

profound..­..........­..who wrote it?

[vandegrasse]

Why did I marry a surfer idiot?

Madge

http://youtube.com/watch?v=28dMYAxHIH4

[kenzgramps]

I don't know, but it appears that HE did. Please learn how to spell "narly" (sic)