Georgia mansion built for $40M sells for $8.8M

SUWANEE, Ga. -- A never-before-lived-in Georgia mansion that cost $40 million to build has been sold for less than $9 million.

The Rose Hill Estate in Suwanee was one of the 25 larges homes for sale in the country. Back in January 2015, it was listed at $13.995 million. A few months later, it dropped to $10.9 million, but still had no takers.

Earlier this year, the price fell to $9.9 million. Finally, after cutting another million off the offer price, the mansion sold for $8.8 million, Atlanta Business Chronicle's Phil Hudson reports.

The stunning and tastefully executed 35,100-square-foot, eight bedroom, seventeen (yes, 17) bath mansion rests on 14.5 gloriously landscaped acres. Aptly named, the Rose Hill Estate has its own dedicated flower room with banks of refrigeration, cabinets for containers, sinks and arranging tables.

PHOTOS: Georgia mansion for sale

A source told Hudson that the home took five years to renovate and build. Much of its interior is formed with pine wood reclaimed in Georgia, Hudson's source said.

Betsy Akers of Atlanta Fine Homes Sotheby’s International Realty served as the listing agent for Rose Hill Estate.

Hudson reports that the last sale of this magnitude in the suburbs was a 47,000-square-foot home that sold for $11.5 million in Cumming back in 2011. That home, dubbed La Reve, cost about $50 million to build.

The highest sale in Atlanta was when Tyler Perry's Buckhead home sold for $17.5 million back in May.

PHOTOS: Tyler Perry's Atlanta home

Kenny Rogers has a metro Atlanta home on the market. Check it out:

This story was originally reported by Phil Hudson of the Atlanta Business Chronicle.