Monegasque real estate is rarely stingy with superlatives.
But in this matter, the Villa Bromar amply justifies them.
In the heart of the "golden square", slightly overlooking the Casino de Monte-Carlo and the gardens of Little Africa, it is a rarity which, more than elsewhere, is very expensive.
Moreover, when he acquired it ten years ago to make it his Mediterranean base at 2, bis boulevard des Moulins, the Russian oligarch Andreï Melnichenko was not mistaken, fully aware of the potential of this unique building from the beginning of the 20th century, whose bay windows adjoin those of the tourist office.
The 95th world fortune, estimated at 15 billion euros, had bought it from the Marzocco brothers.
On October 15, 2007, these famous promoters of the Rock had separated from this 250 m2 villa by selling all of the shares in SCI Bromar, through which they owned it.
Amount of the transaction: 93.5 million euros.
Subsequently, the Russian buyer had added 15 more to completely redo the place: two years of work to raise the villa, and to fit out a fitness room, sauna and swimming pool with a view of the sea.
A fine achievement, the taste of which is in any case much less debated than the aesthetics of her 142 m "A", one of the largest yachts in the world, looking like a stealthy military ship.
If his business acumen has never failed him, it is likely that Melnichenko ignored the price that the Marzoccos themselves had paid a year earlier to the Hector Otto Foundation to secure the house in question: 22 million.
The brothers had not paid a cent for the entire operation, since the loan of an equivalent amount granted for their purchase by the Safra bank had been reimbursed directly by the Russian oligarch during the sale. .
"Its 2005 price has clearly been reduced"
But how can we explain that in such a short period of time, the villa has seen its price quadruple?
If the file is old, the underestimation of the initial price of this emblematic building has long stirred the conversations of local real estate specialists.
It is now back on the front of the stage, in a context where all blows seem permissible between the large Monegasque operators, and while several resounding trials have taken place in recent years against a background of corruption.
The Marzocco brothers had thus been prosecuted in the case known as the Odeon tower, the highest in Monaco, before being released.
And above all, the Monegasque justice opened an investigation following an anonymous denunciation.
The impressive Villa Bromar, dating from the 20th century, covers 250 m2./Jef Baecker
"This villa is located in the most noble part of Monaco," slips anonymously a connoisseur of this type of high-level sales.
Its 2005 price has clearly been reduced.
The pass alone would be worth ten million.
More than ten years later, some of those who had access to the backstage of the sale at the Marzocco decided to speak up.
Because since 1987, the Villa Bromar was part of the heritage of the Hector Otto Foundation, a respectable and respected institution that takes care of the oldest Monegasques.
The foundation, to which the house had been bequeathed by its historic owners, who died without heirs, then managed two retirement homes for a total of 160 places.
For a long time, it has always considered building a third.
While the Bromar villa is necessarily intended for residential use, the choice was therefore made in 2004 to part with it.
It was the then President of the Foundation, Claude Palmero, who piloted the transaction, which seems to have been made to the detriment of seniors, as our information and several documents that we have been able to obtain concerning the sale and the reports of the various boards of directors which have ratified it.
"What do you want," sighs a former administrator of the Foundation.
Extraordinary things are always happening in Monaco.
Claude Palmero was the president and managed everything.
See with him… ”
Palmero and the Marzocco group know each other well
Would Claude Palmero have himself been abused by the Marzoccos, unaware of the exact value of the property?
This is not really what his background and his experience argue.
Claude Palmero is in fact the current administrator of Prince Albert's property, as his father had administered those of Rainier.
Apart from his activities at the palace, this trained accountant also works for his own account as well as for renowned clients, among which… the Marzocco group.
Some see it as a sulphurous mix of genres, of which the sale of the Villa Bromar would be the illustration.
“Beyond the finances of the Principality, Claude Palmero emancipated himself, notes this connoisseur of the Monegasque mysteries.
If you are one of his good clients, he even receives you at the palace.
"
Russian oligarch Andrei Melnichenko had a sauna and a swimming pool built with a view of the sea.
While the Foundation was considering parting with the precious villa, several options had been considered by its directors, including Georges Lisimachio, current chief of staff to Prince Albert.
In the end, it was the Marzocco's offer that had been chosen, in particular because it was accompanied on paper by an option allowing, in return for the sale of the Villa Bromar, the provision of land to build a third retirement home.
Option which has not been implemented.
A decision validated by "high Monegasque personalities"
The initial sale price of the villa "had been evaluated between 18 and 20 million", "taking into account the state of the market at the time and the very important renovations to be undertaken", justifies Me Thierry Lacoste.
The lawyer for the Hector Otto Foundation is also that of Claude Palmero, the Marzocco brothers and Prince Albert.
He also notes that a call for tenders had been launched in 2004, which is the case, and insists that the final decision was taken unanimously by the directors.
“High Monegasque personalities”, as he describes them, who had “perfect knowledge of the Monegasque real estate market.
The sale had, moreover, been the subject of a publication in the official journal after, according to Me Thierry Lacoste, that the Council of State pronounced on the valuation of the good.
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Finally, the lawyer considers, without being able to date it precisely, that the sale of the villa was spread not over one, but three years, "during the years 2005, 2006 and 2007", a period " during which the price of real estate has risen sharply.
"As for the long-awaited third retirement home, it is currently underway, assures Me Lacoste, who reserves the right to lodge a defamation complaint against" certain pharmacies "which he considers that his client Claude Palmero is today the victim.
Recipient, according to Thierry Lacoste, of several documents concerning this case, the general prosecutor's office of Monaco did not respond to our requests.
