Once considered American royalty, the Vanderbilt family epitomises the grandeur of the Gilded Age. Renowned for throwing lavish parties, they were also responsible for building some of the biggest and most sumptuous homes in the United States. One such property, Elm Court, is so huge that it's reported to span two towns. It just sold for a cool $8 million (£6.6m), more than a $4 million drop from its original list price of $12.5 million (£10.3m). Click or scroll on to take a tour of the remarkable residence and discover how it played a role in two of history's most important events...

Sitting on 89 acres of land, straddling the towns of Stockbridge and Lenox in Massachusetts, the property was certainly the perfect vacation spot for one of the world's most elite families. Frederick Law Olmsted, the man behind Central Park, was even hired to create the mansion's garden. 

The Vanderbilts are one of the wealthiest families in American history and their fortune can be traced back to Cornelius Vanderbilt, a businessman and slave owner, a fact that is often glossed over. He started the family firm by borrowing $100 (£76) from his mother in 1810 (roughly $2,446 in today's money) and set about running a passenger boat to Staten Island. He later expanded into steamboats before establishing the New York Central Railroad. During his lifetime, Cornelius reportedly amassed a fortune of $100 million (£76m), which would be about $2.9 billion today, which was more than the US Treasury held at the time, according to Forbes.

Of course, Cornelius and his family used their fortune to build statement mansions, including the Biltmore estate in North Carolina, which remains America's largest home. Elm Court was designed for Cornelius' granddaughter, Emily Thorn Vanderbilt, and her husband, William Douglas Sloane, both pictured here. They lived at 2 West 52nd Street in Manhattan, New York, but desired a summer residence for escaping the hubbub of the Big Apple.

So, in 1885, the couple commissioned iconic architecture firm Peabody and Stearns, who designed the first iteration of The Breakers, which was the summer home of Cornelius Vanderbilt II, before it was sadly destroyed in a fire. In 1886, Elm Court was completed. Despite being considered a simple holiday home, the property was enormous. To this day it's still the largest shingle-style home in all of America. This image was captured in 1910 and highlights the magnificence of the property.

It seems Emily and William weren't quite satisfied with their summer pile though, since they carried out numerous renovations during their time at the home, adding rooms and hiring more staff to tend to their needs. The property wasn't finished until the turn of the 20th century. With its sprawling cream and red exterior, towering turrets, lattice windows and Tudor-style embellishments, the estate would have made quite the first impression.

It's clear that Emily and her husband William, who was the executive of his own family business, W. & J. Sloane, a luxury furniture and rug store in New York City, spared no expense when designing their incredible Gilded Age home. Over the years, the VIP couple hosted an array of lavish parties at the property. Even after William died in 1915, Emily continued to summer at the residence and it was the setting for various important gatherings, not all of them social. In fact, this house is hiding a pretty amazing history. In 1919, it hosted the Elm Court Talks, one of a series of political meetings that would change the world.

The home's entrance is just as grand as it would've been in its heyday when Emily and William were in residence. The talks that occurred here over 100 years ago helped to establish the Treaty of Versailles, which was the peace agreement signed at the Palace of Versailles at the end of the First World War. The meeting also led to the creation of The League of Nations, which was formed in 1920 as a means of resolving future international disputes. Amazingly, Elm Court played a key role in these two important events.

In 1920, five years after William's death, Emily married Henry White. He was a former US ambassador, but sadly they were only married for seven years as White died at Elm Court in 1927 after surgery complications. Emily passed away at the estate in 1946 at the age of 94. Emily’s granddaughter, Marjorie Field Wilde, and her husband, Colonel Helm George Wilde, took over ownership of the palatial mansion, opening it up as a hotel that could accommodate up to 60 guests. With its impressive coffered ceilings and panelling, it certainly would've been a grand place to stay!

We can just imagine guests marvelling at the beautiful hotel. The front doors lead into this staggering space, which would have created an imposing welcome for vacationers. From the huge fireplace decorated with swallow reliefs and Art Nouveau grapevines to the gleaming parquet floor and velvet window dressings, this entrance hall is nothing short of spectacular.

At 55,000 square feet, the house boasts 106 rooms and every space is overflowing with stunning architectural elements and decorative details, including wood-burning fireplaces, elegant drapery, ornate plasterwork, gilded light fixtures and antique furnishings. The entrance hall leads through to sprawling living spaces, designed for relaxing, hosting and working. This space was likely used as a ballroom for soirées or perhaps a banquet hall for extravagant dinner parties. 

The historic mansion's gorgeous timber-clad library is one of its finest spaces. Kitted out with striking blue panelled walls, built-in bookcases, a vast roaring fire and a stunning statement rug that elevates the room, we can't think of a better spot to curl up with a good book.

Speaking of statement floor coverings, this formal living space might have been used as a place to unwind after a long day, or perhaps as a dining room for everyday eating. Floor-to-ceiling windows frame the garden outside, while sliding glass pocket doors open up to a conservatory, where the Vanderbilts no doubt enjoyed plenty of cocktails on summer evenings.

The restored kitchen is spacious and light-filled, with design elements that blur the lines between traditional and modern. From the high-end appliances to the ample countertop space, exposed brick wall and stunning period cabinetry, this gourmet kitchen is certainly fit for a celebrity chef.

The kitchen leads into a gorgeous butler’s pantry, complete with dark wood units, dual sinks and a window seat where you can take in the spectacular view across the grounds. Amazingly, the pantry is bigger than the kitchen itself, according to Realtor.

The house is now listed on the National Register of Historic Places and while some of the rooms have been beautifully restored, others have been left to languish. This space was once the billiards room and was no doubt the setting for plenty of raucous games nights for the Vanderbilt clan. With its gorgeous sage green timber panelling, huge fireplace and endless windows, it isn't difficult to imagine how stunning this room could be, with a little care.

Meanwhile, in this space, a greying bathtub sits abandoned, while peeling paintwork is visible across the door arch. In 1957, Emily’s granddaughter, Marjorie, closed the hotel and the Vanderbilt family stopped using the property altogether. According to the listing agent, John Barbato of Compass, the abandoned home sat empty for 40 or 50 years, slowly falling into a state of total disrepair. It fell victim to vandalism and looting too, until the great-great-grandson of Emily Vanderbilt, Robert Berle, bought Elm Court in 1999.

Robert undertook an extensive renovation project, bringing the beautiful building back from the brink. He focused on the home's main entertaining rooms and bedrooms, restoring the kitchen and the servants’ wing too. For a few years, Robert used the home as a wedding venue, but never fully completed all of the works. According to Realtor, more than 65 rooms, amounting to some 20,821 square feet, were restored. The remaining 30,000 square feet are waiting to be rescued.

Elsewhere in the property is what might be one of the most beautiful stairways we've seen. With its sage green vaulted ceiling, crisp white timber beams, ornate balustrades and dazzling carpet, this dreamy space has been impeccably designed. The steps lead upstairs to the home's dazzling array of bedrooms.

If you include all of the staff bedrooms on the property, there are a whopping 47 bedrooms. However, only 18 are ready to accommodate guests. This is one of the only images we have of them, but it's clear to see that Robert's efforts have paid off. From elegant fireplaces and furnishings to delicate window dressings, the restoration works have been carried out sympathetically, while adding a touch of modern simplicity to every room. 

This bedroom, which may well have been Emily's sanctuary, comes complete with a colossal walk-in closet, as well as a sitting area for kicking back with your morning coffees. We think even A-list celebrities would be satisfied with this wardrobe, thanks to its walls and walls of storage space, drawers and shoe nooks. 

The house comes equipped with 23 bathrooms, many of which appear to have been left intact. This one features an all-cream colour palette, with vintage brassware and a built-in soaking tub. Apparently, the untouched wing of the stately home has an additional 15 bedrooms and at least a dozen bathrooms, all of which need to be restored.

There's also an additional staircase, which is less elegant than the grand stairway at the heart of the home, tucked away at the back of the house next to the kitchen. Two staircases are common in the design of stately homes, since they allowed the servants and other staff members to move between floors without being seen. 

The property also comes with a huge basement that's also waiting to be brought back to its former glory. This could've been where staff members gathered during their shifts, and perhaps where food and wine would have been kept for the Vanderbilts' lavish gatherings. Slightly eerie now, the abandoned space features crumbling walls, floors covered in rubble and exposed structural elements.

Head outside and you'll find sprawling lawns, lily ponds, woodlands, open fields, walled gardens and historic follies, all curated by the great American icon of landscape design, Frederick Law Olmsted. During his noted career, Olmsted worked on the likes of Niagara Falls State Park, Mount Royal Park in Montreal and, of course, the original Biltmore estate in Asheville, North Carolina. Yet Central Park in New York City remains his most acclaimed creation.

This amazing photograph was taken in 1910 and shows how the grounds would have looked during the height of Emily and William's tenure. It shows how impressive and ornate the gardens would once have been, with their neat hedgerows, formal fountains and winding pathways.

Yet that's not all that's hiding inside this beautiful backyard. There are countless impressive outbuildings across the estate, all of which are ready and waiting to be restored. There are three staff homes, including an eight-bedroom cottage for the butler, as well as residences for the gardener and caretaker, plus a carriage house.

The garden also harbours two barns and a gorgeous stable block, pictured here. Inside the stables, the horse stalls come kitted out with beautiful brass-detailed dividers. There are endless options when it comes to what you could do with this space. Create a restaurant, convert it into a characterful home, or use it for your equestrian pursuits.

The estate has numerous greenhouses, which were used to grow produce for the Vanderbilt clan. In 1958, the year after the hotel closed, Tony Fiorini, Elm Court’s former superintendent, established a commercial nursery on the estate and opened two local stores where he sold the fruits of his labour. If the new owner wished, the property could revive its horticultural heritage and provide a further income stream.

In 2012, the property's current owners bought the place with the intending to establishing a hotel and spa, but sadly those plans never came to fruition. Now that it has finally sold to a real estate developer, Elm Court is waiting for its next chapter to begin. We don't know about you, but we can't wait to see what the new owner does with the place!

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