Photography by In-house.media
In the market for a mansion? For just under $25 million, the property known as Palazzo Riggi at 637 North Broadway in Saratoga Springs could be yours.
But wait, didn’t that house just sell for something like $7 million?
Yes—in 2023, Gross Electric owner Joe Gross purchased the home for $7.1 million. (It had originally been listed for $17.9 million, but after not selling for a year, went to auction.) Apparently, Gross wasn’t looking for a summer home for himself, because in the last two years, he’s invested another $7 million into the property, completely renovating the electrical, heating, plumbing, lighting, home control, sound, and security systems; updating the back patio with blue stone terraces; repainting interiors; and replacing carpeting in the home’s sunny Saratoga and Bali rooms. Now, Palazzo Riggi (or should we say Palazzo Gross?) is back on the market.
Built in 2003, the property originally belonged to Ronald and Michelle Riggi, Saratoga socialites who came into money when Ron and his brother founded Turbine Services LTD in 1972. Ron, an avid sailor, pilot, and traveler, was known for the many collections he gathered during his worldwide travels and brought back to the Capital Region with him. The home was his crowning glory. When he passed away at the age of 80 in 2022, Michelle listed the property for sale.
In case you missed the listing the first time around, here’s a quick recap of what some lucky buyer will get when they pull the trigger on the “Jewel of Saratoga.”
Clocking in at more than 19,000 square feet, the estate has six bedrooms, 13 bathrooms, five garage spaces, a finished basement, in-ground pool, home theater, fitness room, koi pond, security guard house, and carriage house suite. There are painted murals, Schonbek chandeliers, two custom kitchens, an award-winning double staircase designed by Herndon & Merry, and a game room featuring a bowling alley, pool table, and pub bar from England. Like any home of its caliber, the finishes are top tier, from the marble fireplaces and custom railings to the massive walk-in closets.
The outdoor space is equally stunning, featuring manicured gardens, a swimming pool with a spa, waterfalls, and a pool house. And not to worry if there’s a snowstorm in town—the heated walkways and driveways mean the future owner will never have to pick up a shovel or fire up a snowblower.
Julie & Company broker/owner Julie Bonacio is representing the property herself. “It really is a once-in-a-lifetime place,” she says. “The workmanship and details could not be replicated today at this price. It really feels like you’re at an estate in Europe.”
Palazzo [fill in your last name]…It has a nice ring to it, doesn’t it?
