Donald Trump has found a buyer for his $100 million Palm Beach mansion

Posted by: Prashant Gopal on May 16, 2008

The Donald gets what The Donald wants. Well, at least when it came to his 80,000-square-foot Palm Beach mansion on County Road, which it looks like Donald Trump will be able to sell for his $100 million asking price.

The Palm Beach Post reported this week that the oceanfront mansion is under contract for sale to an unnamed foreign buyer. Despite the real estate downturn, luxury home prices continue to hit records even in the beaten-down South Florida market.

Reader Comments

jb

May 17, 2008 7:28 PM

This, clearly, is a sign of the bottom!!

Michael

May 23, 2008 12:25 PM

Um, JB did you read the article? "Despite the real estate downturn, luxury home prices continue to hit records even in the beaten-down South Florida market." If this really IS the bottom why not buy in? www.ArtesianVC.com

Snoz

May 23, 2008 2:42 PM

Trump is a known real estate investor(speculator/flipper). If Trump sells during a real estate bust, you know things are getting worst, not better. Trump is guessing that the real estate "bottom" is worse than now and the future price is not going to be better than now, hence he is selling now. Also, Trump's luxury homes is like a Rolls Royce. Just as several thousand sales of Rolls Royce do not salvage the current Big3's sales bust so too several thousand sales of Trump-like mansions do not salvage the general real estate market. Reason: they are detached from the main stream sales of real estate. Conclusion: for all you wishful thinkers still sitting on the sideline hoping to unload your pink elephant real estate, you will take a beating for the next ten years because this recession will be severe, deep, and long. The current back-log of listed real estate homes is really more than one year despite what your real estate agents' rosy talk.

Tom

May 25, 2008 6:03 AM

Trump is smart...lol...totally different market.

Imagine if he used this site to sell

http://www.listingflatfeemls.com its a flat fee mls site.

He would have saved 6 million. Imagine the agent got 6 million? LOL

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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