Palazzo Riggi sold at auction Friday night to Capital Region couple
The bidding for the Palazzo Riggi has now come to a close after a Capital Region couple purchased the property Friday night at auction.
The couple is from Lake George and they’re planning to live at the property full time, Berkshire Hathaway Adirondack Premier Properties owner Margie Philo said.
The couple was 1 of 11 bidders that registered and participated in the auction that was facilitated by Platinum Luxury Auctions, and the deal is expected to close in 30 days, Philo said.
The couple purchased the property in cash, Philo said.
It is unknown how much the property finally sold for, but the likely starting bid was expected to be $12 million.
The North Broadway 1.3-acre estate was built back in 2003 and is a central part of Saratoga with easy access to the downtown area.
The luxury home comes with a main house with two custom kitchens, elevator, indoor and outdoor heated flooring and a home theatre.
There is a fitness room with a steam shower, a pool and a bowling alley.
The palatial Saratoga Springs home first went on sale in September of last year after the death of the owner, philanthropist and businessman Ronald Riggi.