Sprawling estate owned by Mr. Palm Springs hits the market for staggering $19.5 million
The stunning Palm Springs estate of the late philanthropist and businessman Harold Matzner was put up for sale for a whopping $19.5 million on Tuesday.Matzner, who died last year at 88, assembled the sprawling roughly 1.5-acre estate overlooking the desert.The trophy property includes three homes spanning about 16,000 square feet, along with two swimming pools and four spas.The estate is being marketed by Eric Lavey of Beverly Hills Estates, who said the asking price has the potential to set a new for Palm Springs.The cost stands in stark contrast to Palm Springs’ broader housing market, where the median home sold for about $650,000 in April — down 1.6% from a year earlier, according to Redfin.Though Matzner was based in Florida, he used the Palm Springs retreat as a vacation getaway, according to Robert Rein, one of the administrators of Matzner’s trust.“The Harold Matzner Estate occupies a private promontory above Old Las Palmas where the San Jacinto range rises directly behind the compound and the full sweep of the Coachella Valley opens below a position no other residential address in the desert shares,” the listing describes.
“Stone floors carry throughout, a Steinway anchoring the living room alongside Asian art and antiquities accumulated over four decades,” the Estates describes the first home.Matzner was the CEO of CBA Industries, a direct-mail and retail advertising firm, and is credited for reviving the Palm Springs International Film Festival.
He took over as Chairman in 2000, donating more than $12 million into the organization, before stepping down in 2023.If the Matzner estate fetches anywhere near its $19.5 million asking price, it would blow past Palm Springs’ current sales record.
The priciest home ever sold in the desert enclave changed hands for $13.06 million in 2022, according to Lavey.Lavey said the estate commands a premium because it offers something rarely found in Palm Springs: three sprawling luxury homes on a single p...