https://www.msn.com/en-us/money/realestate/hyde-park-mansion-up-for-sale-in-london-for-42-5-million/ar-AA1hMu8Z?ocid=hpmsn&cvid=7e4def2815ba4fb191b8c9803913efc2&ei=41Bloomberg) -- One of the only two mansions on London’s Park Lane is up for sale for £42.5 million ($51.6 million), in what would be the biggest ever home deal on the prestigious street and a test for the resilience of the city’s luxury property market.
The home, once owned by the art dealer of American banker J. P. Morgan in the 1900s, is the largest property to be listed on Park Lane since the Qatari royals bought Dudley House over 15 years ago, which is one of the most expensive residences in London.
The six-bedroom mansion overlooking Hyde Park was purchased almost 20 years ago by its British owners, who requested anonymity because the deliberations are private. The deal was completed for about £8 million, an official filing shows. The property has since been refurbished to include a 15-meter swimming pool, health spa and double basement, spread across 11,000 square feet (1,022 square meters).
Park Lane’s most recent mansion listing will be a test for how far apart buyers and sellers are in price expectations for London’s luxury housing market, where some vendors are being forced into discounts to avoid the risk of deals falling through.