Riggi North Broadway Home Sold at Auction

SARATOGA SPRINGS — The 20,000-plus square foot mansion on North Broadway known as “Palazzo Riggi” sold at auction on Sept. 8 to Joe Gross, owner of Gross Electric in Queensbury.

The winning bidder was first reported by Chelsea Diana in the Albany Business Review. Gross told the paper the final purchase price, after auction fees, will be around $7.1 million.

Built in 2003, the home was owned by Ronald and Michele Riggi and features 6 bedrooms and 7 full, 6 half bathrooms. 

Ronald Riggi, who founded Turbine Services LTD with his twin brother Vincent, died in August 2022. A lawsuit filed by Vincent Riggi in March 2023 seeks more than $27 million from his late brother Ronald’s estate, according to published reports.

The mansion was first listed for sale in September 2022 at $17.9 million. That listing price was dropped to $12 million earlier this year.