Behold, the most valuable home ever completed in New Zealand. Located at 56-58 Paritai Drive in Auckland, the mega mansion is finally completed after 8 years of planning, designing and constructing. It is owned by businessman Mark Hotchin who originally planned to live in it, but is now selling it. He paid $18 million for the land and it cost approximately $42 million to build. It is expected to fetch around $50 million. It features approximately 28,000 square feet of living space with 7 bedrooms, a 12-car garage, gym, indoor swimming pool and a tennis court that is currently being worked on. There is also a 1,600 square foot guest house.

*Thanks to HOTR reader CW for the tip!

CLICK HERE FOR THE LISTING

  • James

    Why design and construct the house for 8 years and then sell it?!




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  • LE

    When looking at the aerials all I can think is “ten pounds in a five pound bag.” View of the waterfront is nice but seems so cramped for that kind of money.




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  • WrteStufLA

    The size and scale reminds me of the Anthony Pritzker mansion in Beverly Hills:

    http://www.motherjones.com/slideshows/2012/03/homes-rich/anthony-pritzker-mansion-0




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  • Daniel

    8 years to plan a medical office…go figure. The house reminds me a lot of Lisa Vanderpump’s new home:

    http://www.bittenandbound.com/wp-content/uploads/2011/09/Lisa-Vanderpump-new-house.jpg

    While the view is lovely, I wouldn’t pay $50 million for it.




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    • Teddi

      Hit the nail on the head. Was trying to figure out what the design reminded me of.
      Medical office is right on the mark




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  • HC

    hard to believe 50MM for that–very cramped and NZ real estate isnt very expensive. He may get 12 mill for it.




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    • Andrew

      I imagine since this is a New Zealand listing, prices are in New Zealand dollars. In which case, 50 million is equal to about 39.5 million US. Hmm… still expensive!




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  • Grrrowler

    I don’t think it’s unattractive. I like it far better than any all-beige mock-Med we’ve seen. It’s not the most special-looking house I’ve ever seen but I’ve seen far worse. For this kind of money I would like a little more room to spread out. The lot does look cramped, and it feels like the road behind the house is practically part of the tennis court.




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  • Venom

    $60 million to build, sell for $50 million and never lived in it. Why? Why bother?




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  • Upravitelj
  • Otessa Regina Compton

    It does have an appeal of a mixed use property combined with its own commercial district. I do agree with Venom on the economics, it really does not have balance.




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  • Dani

    Build it for 8 yrs when you don’t know if you’ll be brought up on charges of fraud, theft etc for your part in the collapse of one of the biggest finance companies in the country.




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