VIDEO: Beverly Hills mansion hits the market for $195 million

BEVERLY HILLS, LOS ANGELES -- A 53,000-square-foot Mediterranean-style mansion on 25 acres in Beverly Hills, complete with a vineyard and a 50-seat private screening room, hit the market Thursday for a record $195 million.

The property, known as the Palazzo di Amore, has 12 bedrooms -- including a 5,000-square-foot master suite -- and 23 bathrooms. There's a reflecting pool with views of the ocean, a spa space, a tennis court and basketball court, a quarter-mile driveway with space for 150 cars in the "motor court," a guest house, a bowling alley, and a discotech.

"It's an extraordinary estate in every sense of the word," said agent Joyce Rey of Coldwell Banker Previews International.

The chef's kitchen is equipped with a commercial-size walk-in refrigerator, and the wine cellar can hold 3,000 bottles and includes a tasting room! Plus, the vineyard produces about 400-500 cases of wine -- Cabernet and Sauvignon Blanc -- per year.

Watch Elex Michaelson's report above.