Saratoga’s multimillion-dollar socialite mansion is up for sale again with a massive price cut

Attention bargain hunters! Luxurious Palazzo Riggi in Saratoga Springs, New York, has lowered its asking price after six months on the market.

The house at 637 North Broadway originally cost $17,900,000 and is now up for sale for $12 million. Once called the “Jewel of Saratoga”, the house was built in 2003 for Michele and Ronald Riggi, a businessman and philanthropist who died in August at the age of 80.

The 1.3-acre lot made headlines when Syracuse entrepreneur and philanthropist Adam Weitzman agreed to buy it “significantly less” than the asking price.

Weistman, the owner of a $1 billion scrap metal recycling facility including one in Albany, agreed to buy the house last fall without seeing him in person. However, the deal fell through when he personally went on tour.

“Everyone has different styles and things, and it wasn’t a style that resonated with me,” Veitsman told Times-Union Albany. “In the end, I just didn’t have a personal connection to real estate.”

The house took two years to design and three years to build, sitting among historic Victorian homes in upstate New York. Each room has style and décor inspired by international travel destinations such as Bali, Italy, France, Africa and more.

Its over 25,000 square feet of living space includes two kitchens, an elevator, indoor and outdoor underfloor heating, a home theater, a personal fitness room with a steam shower, a bowling alley and a bar.

The Riggie family also has their Lake Placid home, also known as “Casa Del Paradiso,” which is for sale with a 46-acre lot that looks more like a luxury summer camp than a private residence.

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