“In an age of so many people getting hurt in real estate, it shows that you can still do well in real estate” – Donald Trump
Palm Beach (Florida): The real estate market might be slumping, but not for Donald Trump, who sold a Palm Beach mansion for US$100mil to a Russian billionaire, his spokesman said on Wednesday.
“In an age of so many people getting hurt in real estate, it shows that you can still do well in real estate”, Trump said in a telephone interview.
His spokesman said the US$100mil is the most ever paid for an estate in the US, though there is no way to verify that claim.
Russian fertilizer billionaire Dmitry Rybolovlev purchased the roughly 5,575-square-metre oceanfront home, which Trump fixed up after buying it for about US$41mil in 2004.
He assigned renovations to Kendra Todd, a winner on Trump’s reality TV show The Apprentice,
who dressed it up with marble and 24-karat gold fixtures, even in the bathrooms.
The home, called Maison de L’Amitie, is spread over several buildings and includes separate coat closets and bathrooms for men and women off the main entryway for easy entertaining.
A mammoth fountain greets guests from the front along with 145m of ocean in the back. “I think it’s a great sign for Palm Beach and all that Palm Beach represents,” Trump said. He originally put the mansion on the market in 2006 for US$125mil – AP