Thursday, May 15, 2008
Tags:   Donald Trump, properties, real estate, oceanfront, prices, south ocean boulevard, property, exclusive estates, Beachfront Homes, mansion, Palm Beach Homes, million, market price, improvement, palm beach real estate, palm beach, upgrades, under contract, sales, purchase, remodel, sale

A 62,000 square-foot oceanfront mansion owned by Donald Trump has reportedly sold for its full asking price of $100 million to an unnamed foreign buyer.

 

Trump bought the 6-acre property in 2004 for 41.35 million and spent $25 million renovating it to include nine bedrooms, media room, wine room, art gallery, conservatory, ballroom, two guest houses and a 48-car garage.

 

Trump predicted he would sell the property at that exact price three years ago, before it ever went on sale.  After toying with the idea of converting the property into a luxury hotel, he dropped his original asking price of $125 million recently, after reportedly turning down offers ranging between $85 and $90 million.

 

According to reports, the unnamed buyer is contemplating tearing down the current structures and perhaps dividing the land into multiple parcels.

 

Since 1917, the property has been bought, sold, razed and remodeled several times over by prominent businessmen, including a family member of the founder of Dun & Bradstreet, the onetime president of Standard Oil and chief executive of Limited Brands, Inc., among others.

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