At least someone's making a real estate killing
From the Palm Beach Post:
Donald Trump on Thursday morning publicly acknowledged he has a contract to sell his Palm Beach mansion for $100 million.
Then, in a roundabout way, the billionaire real estate mogul confirmed what everyone on the island already knows: That he has sold the former Abe Gosman mansion to a Russian.
"I just sold a house in Palm Beach for a number of approximately $100 million," Trump told the hosts of CNBC's Squawk Box during a wide-ranging interview on the economy.
Trump recently signed a contract to sell his 80,000-square-foot estate to an unnamed foreign buyer at the full asking price of $100 million, The Palm Beach Post revealed Thursday. The 6-acre estate is located at 515 N. County Road.
Trump bought the property, the former home of health-care magnate Abe Gosman, for $41.35 million in 2004, following Gosman's bankruptcy filing. Trump then poured $25 million into a renovation. He priced the home at $125 million when he put the estate up for sale in 2006.
This year, however, Trump dropped the price to $100 million.
If the Trump deal closes, it will set a record in Palm Beach. The standing record is $81.5 million, paid in April for the home of billionaire businessman Sidney Kimmel. The buyer of that home, at 1236 S. Ocean Blvd., was former Goldman Sachs partner John Thornton.
Maybe he could reinvest some of the profits into Trump Tower Tampa. It's not looking too good lately, unless you like abandoned lots festooned with tattered banners.
(Un)Real Estate offers a peek at the housing market usually reserved for insiders. While it focuses on the Tampa Bay area, it won't neglect dipping
into the rest of Florida and beyond. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
Maybe he could reinvest some of the profits into Trump Tower Tampa.
It's not looking too good lately, unless you like abandoned lots festooned with tattered banners.
Now is not a good time to buy, it's a gret time for Trump to buy into the Trump Tower! :)
Posted by: Fuzzy Bear | May 16, 2008 at 01:49 PM
The bottom is in, it's time to start flipping again. I heard that Trump replaced the formica countertops with granite and refinished some old wooden floors. According to "Flip this Mansion" that should at least double the value. What's a $100M when you got oil money burning a hole in your pocket!
Posted by: Dave | May 16, 2008 at 03:57 PM