Donald Trump sells his $100 million dollar home to a Russian fertilizer billionaire, Dmitry Rybolovlev”:
“This acquisition is simply an investment in real estate by one of the companies in which I have an interest,” Mr. Rybolovlev said in a statement released by Alan Basiev, the head spokesman for Uralkali. It “does not represent a decision by me to live in the U.S.”
If the deal closes in the next few weeks, as planned, it is likely to be the most expensive sale of a U.S. single-family home. “This is the highest price ever paid for a house. And I think it’s a bargain,” said Mr. Trump.
The developer paid $41.4 million for the estate at a bankruptcy-court auction in 2004 and did a cosmetic renovation. Some brokers describe the house as a teardown, saying the property, among Palm Beach’s largest parcels, would be more valuable if subdivided
June 20th, 2008 at 3:17 pm
He wanted $120 and turned down $90 from a neighbor. Wonder what $100mm really costs when Rubels are about 43 cents to a dollar?
Lesson in this- bought in tough times, sold in tough times.
There’s money in adversity for those with the liquidity to seize the moment.
Rather then pay all those capital gains Trump should reinvest in property (.com).
July 1st, 2008 at 11:19 am
I don’t know I think it’s a rip off. Buy a beautiful house like that and then want to knock it down? That is just WRONG
February 20th, 2009 at 9:20 am
huh?