Westgate Timeshare Founder Puts Personal Mansion on the Market
Saturday, May 8, 2010
In March of this year, Westgate timeshare founder and CEO, David Siegel, put a number of the company’s assets up for sale. Knowing that he and his wife Jacqueline have suspended construction on the mansion they were building in Windermere, just outside of Orlando, Florida, many speculated that the home might be the next asset to go.
Listed at 66,800 square feet in size, the Siegel’s uber-mansion was intended to be the largest private residence in the United States. Occupying roughly 10 acres of real estate on pristine Lake Butler, the home was planned to include 13 bedrooms, 10 satellite kitchens, 23 bathrooms (each with spa tub), 7 half-baths, a ballroom, an indoor roller-skating rink, a bowling alley, and a movie theater patterned after the Paris Opera House with a second theater in the children’s wing of the home. On the grounds, which include a quarter mile of private beach, there is a large gatehouse with residence apartment, a baseball field, three swimming pools, two tennis courts, a boathouse, a two-story wine cellar, and a rock grotto with three spas located behind an 80-foot waterfall. The master bedroom alone is planned to be some 8000 square feet in size.
Although the house is not completed, it has been under construction for three years. The Siegels are asking $100 million for the house “as is” or $75 million and they will complete the construction for the buyer, which implies that the house is approximately three-quarters completed.
Yes, I know what you must be thinking. It’s a shame this mindboggling house is located within residential-only zoning, because it sounds like it would make an incredible Westgate Florida timeshare resort!
Click here to see the real estate ad as featured in the Wall Street Journal.
Other Westgate timeshare developer news from The Timeshare Authority:
Westgate Timeshare Lightens the Load, Selling Select Assets
Westgate Timeshare Founder’s Spouse Joins in the Buzz about Elin and Tiger Woods
Orlando Timeshare Developer Played Landlord to Michael Jackson
