Make us your home page
Instagram

Paul Bilzerian's mansion, Tampa Bay's most expensive foreclosure, finally sells for $2.85 million

TAMPA — The "sold'' sign has finally gone up on Tampa Bay's most notorious and expensive foreclosure — the former Avila mansion of disgraced corporate raider Paul Bilzerian.

In late September, a trust paid $2.85 million for the 28,000-square-foot lakefront estate and guest house with a total of 10 bedrooms, 13 bathrooms and six half-baths. Other amenities include indoor basketball and racquet ball courts, four fireplaces and a wine room.

Related: Some of Tampa Bay's highest-priced homes in foreclosure, including the Bilzerian mansion, have stories to tell

The purchase price was a relative bargain — the estate first hit the market three years ago for almost $6.5 million and was listed at nearly $4-million as of last May. At one point in 2008, it was priced at $18 million.

Three years ago, a Louisiana bank repossessed the sprawling, three acre estate that Bilzerian built in the early '90s. He went on to serve 13 months in prison for illegal stock manipulation and is now thought to be living in self-imposed exile on the Caribbean island of St. Kitts.

Previous coverage: Years after $62 million judgment, Paul Bilzerian is alive and well on Caribbean Island

His son, Dan Bilzerian, has become a social media star for his videos about his playboy lifestyle; he claims to have made $50 million playing poker.

The deed recorded Sept. 26 shows Pat and Gade Wells as trustees of the trust that bought the property, whose sale leaves just one foreclosure priced at more then $1 million on the market in Tampa Bay. That is a nearly 6,000-square-foot bayfront house in St. Petersburg's Pinellas Point area priced at $1.8 million.

Throughout the four-county bay area, there currently are 24 foreclosures listed for $500,000 and above.

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow @susanskate

Paul Bilzerian's mansion, Tampa Bay's most expensive foreclosure, finally sells for $2.85 million 10/17/16 [Last modified: Monday, October 17, 2016 2:59pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Ousted to political Siberia by Corcoran, Kathleen Peters sets sights on Pinellas Commission

    State Roundup

    TALLAHASSEE — The perks of power in Tallahassee are a coveted chairmanship, a Capitol office in a prime location and a prominent seat on the House floor. Now Rep. Kathleen Peters has lost all three, but here's the twist: Her trip to "Siberia" might actually help her reach the next step on the Tampa Bay political …

    Rep. Kathleen Peters, R-South Pasadena, has been relegated to the back row in the State House chamber, moved to a fouth floor office and stripped of her job as chairwoman of a House subcommittee after a series of disagreements with House Speaker Richard Corcoran. [SCOTT KEELER | Tampa Bay Times]
  2. UPS relocates express operations from St. Pete-Clearwater to TIA

    Airlines

    TAMPA — United Parcel Service Inc. is switching airports for its express air operations. Beginning in October, UPS will relocate from St. Pete-Clearwater International Airport to Tampa International Airport.

    Beginning in October, UPS will move from St. Pete-Clearwater International Airport to Tampa International Airport. [Associated Press file photo]

  3. Richard Corcoran takes aim at public financing of campaigns

    State Roundup

    TALLAHASSEE — House Speaker Richard Corcoran, R-Land O'Lakes, may not be running for governor — not yet anyway — but his latest idea will get the attention of those who are.

    House Speaker Richard Corcoran wants the Constitu?tion Revision Commis?sion to ask voters to repeal the state’s system of partial financing of statewide elections.
  4. Related Group breaks ground on complex at old Tampa Tribune site

    Real Estate

    TAMPA — When Miami developer Jorge Perez first eyed a 4.2-acre tract on the west bank of the Hillsborough River two years ago, people asked him if he wouldn't prefer to build on the opposite side closer to the downtown core.

    No way.

    From left, Related Group executive associate Arturo Penaa, Jorge Perez, center, founder and CEO of the Related Group, Mayor Bob Buckhorn and Steve Patterson, the President of Related Development dig their shovels  during the groundbreaking ceremony of the 400 unit Riverwalk Manor apartment complex on site of the old Tampa Tribune building on Wednesday. [OCTAVIO JONES | Times]
  5. Eat 3-course meals for $35 at these 100 restaurants for Orlando's Magical Dining Month

    Food & Dining

    In the early 1900s, hotels offered "table d'hote" or "prix fixe" menus as a form of loss leader. Hotels didn't necessarily make money on these lower-priced, multi-course meals, often served at communal tables, but they made up for it on the booze. Prohibition may have contributed to a gradual shift toward a la carte …

    Bulla Gastrobar serves a variety of Spanish and Portuguese dishes.