A particularly opulent estate in Upstate New York, long owned by recently deceased businessman and philanthropist Ronald Riggi and his socialite wife Michele, has hit the market in Saratoga Springs. The asking price? A princely $17.9 million, though that amount seems far less outrageous when you consider the property’s lavish quirks and features — and there are almost too many to name.
Built for the prominent couple in 2003, and known as Palazzo Riggi, the home rests in the southernmost foothills of the Adirondack Region, and includes a stone-clad Rococo-style main mansion and additional structures spread across a 1.3-acre parcel of land.
Nicknamed the “Jewel of Saratoga” for its extremely customized and decorated premises, the residence is adorned with an award-winning bridal staircase designed by Herndon & Merry, along with 23 marble medallions inlaid into the marble floors, Schonbek and Waterford chandeliers, domed and coved ceilings sporting hand-painted murals, an elevator dressed in tulle leather panels culled from a French Palace, and radiant-heated floors and walkways.
It’s also one of two personal residences that Riggi, cofounder of Turbine Services Ltd., left behind following his August 2022 death at age 80. The couple also owned a 46-acre, five-building Lake Placid estate, which popped up for sale earlier this summer for $31 million.
As for the Riggi’s Saratoga residence, the estate is fully ensconced by walls and gates. A double-height foyer displaying lovely frescoes and the aforementioned staircase opens to the six-bedroom, 13-bath main house, which offers around 19,000 square feet of multilevel living space highlighted by a fireside family room with wet bar; formal living room that seats 12; two bespoke Clive Christian kitchens outfitted with top-tier appliances; and an opulent master retreat with walk-in closets and a luxe bath.
Glitzy amenities include a dedicated “pet playroom” with direct access to an outdoor lawn with radiant heating technology, gym with steam shower, bowling alley, movie theater designed by Theo Kalomirakis, wine cellar and Balinese-inspired room with a plunge pool; there’s also a security building for guards to monitor the premises 24/7 and five-car temperature-controlled garage with an office.
Rounding it all out are the spectacular resort-inspired grounds, which are showcased by manicured gardens, numerous fountains, a sparkling pool and spa flanked by a poolhouse, and plenty of spots ideal for grand-scale entertaining.
The listing is held by Julie A. Bonacio of Julie & Co. Realty and Margie Philo of Berkshire Hathaway HomeServices Adirondack Premier Properties.
