Real Estate Slump? Not in Palm Beach….

Update: According to Palm Beach Post the house has been sold for $95 million (7/16/08)

What do you do when you pay 100 million for the grandest house and property in Palm Beach FL? A house, by the way, that was recently renovated to the tune of $25 million; a renovation overseen by Kendra Todd, winner of the third season of Trump’s TV show The Apprentice. The redo resulted in a 62,000-square- foot mansion with nine bedrooms, a ballroom, a conservatory and a 48-car garage, and 475 feet of unobstructed oceanfront. Answer: You tear it down and subdivide!

The Donald, who paid $41.3 million, now has it under contract for $100 million (reduced from 125 million!), to an unnamed foreign buyer (who) “is considering tearing down the recently remodeled mansion and possibly subdividing the property, according to sources” The address, in case you want to ogle or Google, is 515 N. County Road in Palm Beach.
Source: Palm Beach Post

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