In a city known for its comparatively thrifty housing market, one man is looking to shatter the record for the price of residential real estate. The Wall Street Journal reports that entrepreneur J.K. MacDonald is listing a home in the Atlanta area for $48 million.
The18.6-acre estate in Atlanta’s asking price of $48 million is about $20 million higher than the highest home prices in the area, listing agent Debbie Sonenshine of Coldwell Banker Residential Brokerage said.
But prospective owners who balk at the asking price are advised that they aren’t just getting land and a piece of property for their money. The Journal reports the asking price, which does not include an address in the ask, includes the estate’s furnishings: nearly 500 antiques and pieces of art. The works, which include a Picasso aquatint titled “Fumeur” and an 1885 poster by Henri de Toulouse-Lautrec, are valued around $14 million, MacDonald told the paper.
It also includes antique statues on the ground are a pair of iron figures originally from the gardens of the Palace of Versailles, MacDonald said.
MacDonald, the founder of a travel-incentives company called Media Marketing Services, said he bought the house in 1987, for a then-record price of $3.7 million. Several renovations have been made since then, expanding the house to its current size of 14,500 square feet with seven bedrooms, eight full baths and three half baths.
MacDonald told the paper he is putting the house up for sale because he is going to spend more time at his home in Palm Beach, Fla.