Trump’s former estate on track to break sale record
While Trump is no stranger to world headlines, in this instance all eyes are on his former property which is poised to set a sale record in Florida’s Palm Beach.
Palm Beach real estate has enjoyed a boom on the back of numerous factors, not excluding Florida’s 0 per cent income tax rate, but now the sandy town is bracing for a new record as Trump’s former property hits the market for an extraordinary US$140 million ($180 million), according to local media.
The oceanfront mansion is located on an estate purchased by President Donald Trump back in 2004 for US$41 million, the Palm Beach Post has reported.
The President flipped the lot only four years later, selling to Russian billionaire Dmitry Rybolovlev for US$95 million and pocketing a profit of over US$50 million.
In 2016, Mr Rybolovlev subdivided the property and sold the lot in question at 515 North Ocean Boulevard to a real estate developer for a reported US$37 million.
Then a bare lot, it now boasts a home designed by architect Bill Boyle and completed in 2020, which is likely to break a Palm Beach record by becoming the most expensive real estate transaction in the locality’s history.
The US$140 million price tag comprises a nine-bedroom home, with 12 baths and seven half-baths, and includes the furniture, appliances and some 45 metres of shoreline.
Listed by broker Lawrence Moens, if sold at the asking price, the home will surpass the current record set by a neighbouring estate sold in 2019 for US$111 million.
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