Michele Riggi Lists Lake Placid Complex For $31M

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Michele Riggi with Casa Del Paradiso (Getty, Berkshire Hathaway HomeServices)

Michele Riggi with Casa Del Paradiso (Getty, Berkshire Hathaway HomeServices)

Michele and Ronald Riggi are asking what would be a record area price for their 46-acre, five-building Lake Placid estate.

Known as “Casa Del Paradiso,” the property is listed for $31 million, more than double the $13 million that the Last Chance Ranch sold for in 2005, the Adirondack Daily Enterprise reported. The estate is off Bear Cub Road, near the John Brown Farm Historic Site.

Margie Philo and Justin McGiver of Berkshire Hathaway Adirondack Premier Properties have the listing. The property has five primary buildings with nine bedrooms and 10 bathrooms. The main house has an underground tunnel that connects to one of the property’s two guest houses.

Buildings include a treehouse and an Airstream “she-shed” lined with animal pelts, and the property also has a combination tennis-basketball court, an indoor shooting range, a lean-to and a toboggan hill. The property also has views of the nearby Olympic Ski Jumping Complex.

The property will be a “turnkey” sale, meaning the furnishings will be included. Some of those pieces are expensive or unique, such as a dining room table that’s one of two in existence. Oprah owns the other one.

The Riggis, who paid about $1 million for the property in 1980 when it had just one building, used it for vacations and weekend trips. The couple built the toboggan hill for their four children.

Philo told the publication that she’s heard from a few people interested in the property and she won’t be giving many tours of the home. If anyone wants to visit the property in person, they will have to provide proof of funds.

The property will most likely sell in an all-cash deal, Philo said. “Most people who buy a home like this have multiple homes, and this is part of their portfolio.”

A local town assessor told the outlet that nearby homeowners shouldn’t worry about how it will hit real estate values, calling it an outlier for the area. “I don’t think most mere mortals have to worry about the sale price,” he told the publication.

— Victoria Pruitt



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