This is Italy’s priciest home to date, eclipsing all previous residential transactions
Mansion Global reported that the buyer may be American tech entrepreneur Brendan Blumer, founder of cryptocurrency company Block.one; though he has not publicly confirmed the transaction.
The sale was brokered by Sotheby’s International Realty, which represented both the buyer and seller.
Set on a 5.7-acre parcel in the Romazzino area, the property boasts 28 bedrooms and 35 bathrooms, three swimming pools, two private beaches, and more than 1,000 feet (about 305 metres) of water frontage along Romazzino Bay.
The estate also includes two private piers and an array of outdoor entertaining spaces with terraces and shaded lounging areas designed to maximise the coastal views.
The villa was originally designed around 1970 by architect Luigi Vietti in the classic Mediterranean style, featuring whitewashed walls, terracotta flooring, and a red-tiled roof.
Previously, the estate was owned by Henry Ford II, grandson of the Ford Motor Company founder, and later by Sheikh Ahmed Zaki Yamani, the long-serving Saudi oil minister and a key figure in the development of OPEC.
Sheikh Yamani acquired the property in 1974 and held it until his death in 2021.
Though the deal sets a record for Italy’s most expensive home sale, it still falls short of the estimated value of Villa Certosa, also in Sardinia, which belonged to the late former Italian prime minister Silvio Berlusconi.
That property is reportedly valued at more than twice the amount of the Romazzino estate.
Blumer, 38, gained prominence in the cryptocurrency sector in the mid-2010s after launching what was then the world’s largest Initial Coin Offering.
He was later named among Forbes’ wealthiest individuals in the crypto space.
