Tennessee's most expensive home sells for $42.5m

Tennessee's most expensive residential real estate deal has finally closed with the sale of the 383-acre Twin River Farms property. 

After more than a year of strategic marketing, the picturesque destination sold for an astounding $42.5 million to an undisclosed buyer, marking a new record for the most expensive residential real estate sale in the state.

Known as Twin Rivers Farm, the sprawling property features two streams that meet, a 'royal' entrance equipped with a covered steel bridge, a 5-acre spring-fed lake and miles of hiking and biking trails.   

The Fernvale, Tennessee property boasts 24,279 square-feet of luxurious living spaces, including a main home, barn, cabin, stables and a pool house.

With construction of the main home completed in 2018, the ritzy property is unique to its builder, Steve Gianetti, as it features custom-designed rooms: the Blue Room, the Rock Room and the Bonus Room.

Named the Blue Room after its custom blue leather walls imported from Norway and Sweden, the room also includes a brass fireplace, a custom convertible pool and table-tennis table, and a half bath.

The Rock Room features a marble gas fireplace, a 'striking “18 coats of lacquer” on the walls, a perfect backdrop for collection displays,' and a secret escape door, the property's website details.

Set with 5-bedrooms, seven and two-half baths, the 10,626 square-foot main home, has it all. 

The regal kitchen features marble counters, two dishwashers, a 60-inch Lacanche with two gas ranges and a double oven, a bread warmer, a built-in coffee machine inside the breakfast bar and stunning glass walls that back the cabinetry, offering beautiful views of the surrounding nature.

Fit for a king, the master suite has a custom-made brass rail along the stairway, all the way to the master suite, which spans the entire second floor of the home.

For those looking for an outdoor oasis, the opulent property boasts 'meandering rivers adorned with charming walking bridges,' the website reads.

Situated along the South Harpeth River, the property is also equipped with an outdoor grilling area, set with speakers and a stone firepit perfect for entertaining friends and family. 

Another unique feature lies within the magnificent property's 188 tree orchard and its 15-foot deep lake set with three springs, a pumping system, dry hydrant and a pavilion-style dock.

Originally listed in June 2023, the sellers, Larry Keele, co-founder of Los Angeles-based Oaktree Capital Management, and his wife, Leiyan, initially listed the resort-resembling property for $65 million. 

However, for a property of this caliber it is likely many factors contributed to the lower earned sale, such as the rural location 30 miles outside of Nashville, the need to find a buyer who highly valued the privacy of the property, and the overall market conditions at the time of sale.

'We are very pleased with the outcome of this transaction. We knew this was a special property when we acquired it, and worked hard to ensure that it would become even more special for an even longer period of me; and we knew it would require a lot of work to find the right Buyer,' the Keele's stated in a press release.

'We are pleased that came to be, and we will remain forever proud of the fact that we were caretakers of Twin Rivers Farm for a period of time.'