Tommy Hilfiger Co-Founder Sells Lake Tahoe Estate for $48M

Tranquility1Fashion exec Joel Horowitz has sold his Lake Tahoe mansion according to the Wall Street Journal. The house, if you can call it that, was originally listed for $100M in 2006 but was recently purchased for a $48M. What a steal. The compound features almost 38,000 square feet of living space which includes a theatre, gym, art studio, and grand staircase modeled after the main stairway of the Titanic. Tranquility3 Horowitz is a co-founder of the Tommy Hilfiger fashion brand and is the current co-chairman of the board of Diane von Furstenberg. Named "Tranquility" the home has been purchased, oddly enough, by a company called Tranquil Investments LLC. Should they be looking for any advice on decorating the home, we hope they'll give us a call. Trnquility2 To read the full story, head to The Wall Street Journal. Photographs: Courtesy of Chase International.