Months after acquiring the building, Milmo demolished it to build a lavish private estate that became his part-time residence. Designed by noted Mexican architect Tomas Cajiga, the hacienda-style compound was completed in 1990. Following Azcarraga Milmo’s 1997 death from pancreatic cancer, that estate was put up for sale at $16 million, though the ask was eventually slashed to $10 million.
Perhaps that’s why, despite the sky-high $60 million price tag, the place is being marketed as a development opportunity. According to the listing, which provides no interior photos of the residence, the estate is “an ideal canvas for visionary developers” and could be used to construct several new homes or multiple apartment buildings.
But much like the loss of the Sunset Plaza Apartments, destruction of the Azcarraga Milmo estate would be a shame. Featuring appointments “suitable for royalty,” the Mexican Colonial-style property includes two dining rooms adorned with hand-cut stone and centuries-old wood beams, a chef’s kitchen, wine cellar and a library. Outside, stunningly sculpted grounds are decorated by the aforementioned lush gardens, grassy lawns and numerous fountains.