Veronica Hearst, widow of famed publisher Randolph Hearst, was recently able to sell a New York property for a reported $36.5 million – enough to pay off her debt on her Manalapan mansion with some left over.

Hearst was behind on a $47 million mortgage from lender New Stream Capital.  In February, the lender paid $22 million at a foreclosure auction for the property.  The next month, it is reported that Franklin L. Haney paid New Stream $23.5 million for the 28,000 square foot mansion, cutting Hearst’s debt to New Stream in half.

The sale of the property in New York has settled her account completely and left her with some cash for herself, according to her attorney.

Previously unnamed, the buyer of Donald Trump’s $100 million oceanfront estate is Russian billionaire Dmitry Rybolovlev, according to reports.

Rybolovlev is said to have acquired his fortune in the fertilizer industry and has no plans to relocate his primary residence to the United States, commenting to news sources that this latest purchase is merely an investment.

Trump bought the property four years ago at auction for $41.4 million and poured $25 million into renovations, producing a 62,000 square foot estate with nine bedrooms, conservatory, ballroom, art gallery, two guest houses and 48-car garage.

Rybolovlev was listed at number 59 on the Forbes list of billionaires, estimated at a worth of $12.8 billion.

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.

In what is most likely a record price for a condominium in Palm Beach, the penthouse of the West building of the Il Lugano condominium was bought from Miami Dolphins co-owner Stephen Ross for $12.1 million.

The unit at 300 Seminole Ave has 5,798 square feet, is situated on an entire level of the building and has five terraces that overlook the Intracoastal, Palm Beach and also the Atlantic Ocean.

Renovated in 2000 by developer Richard Schlesinger and his son Adam, what used to be the 66 unit Dorset House was totally restructured into 14 luxury condominium apartments, taking out a level of the building to accommodate larger units with higher ceilings.  The unit also boasts a private cabana, boat dock and 4-car garage.

According to industry reports, large condominium residences are selling rather swiftly, due to maintenance and security issues connected with owning a single-family home.  Buyers in this category recognize the value of having less upkeep with the same amount of living space.

Built in 1998 and designed by architect Thierry W. Despont, Sidney Kimmel’s European-style Palm Beach mansion at 1236 S. Ocean Blvd is under contract for a reported $75 million.

According to reports, the buyer, who wishes to remain anonymous, was the second to make an offer on the property, which attracted celebrities, athletes, wealthy patrons from abroad, key figures in business and even a Saudi prince.

Depending on how you view it, the sale price could exceed the Town record set for residential real estate in 2004 – the sale of Casa Apava for $70 million to Dwight Schar, Chairman of NVR Inc.  Schar also purchased two vacant plots across the street from the same person for $22 million, his purchases totaling $92 million.

Sidney Kimmel is a philanthropist and movie producer.  He is chairman and director of Jones Apparel Group and part owner of the Miami Heat.  He is also a partner in Cipriani International which has restaurants and catering in New York, Italy and Buenos Aires.

One of the country’s most expensive residences, the Hearst mansion, sold at a foreclosure auction on Monday for a bid of $22 million from New Stream Capital.  According to the attorney representing Veronica Hearst, the property will go back on the market so the creditor can recoup its investment.

The 20,000 square foot home was designed by Maurice Fatio and bought by Randolph Hearst in mid-2000 for $29.87 million, at that time the highest sale price on record in the state.  Hearst passed away six months later, leaving his widow Veronica without the means to maintain the property.

Veronica Hearst borrowed millions against the home’s value to pay for property taxes and renovations.  She sold 150 feet on the property’s south end for $6.2 million, explaining that potential buyers were uncomfortable with the considerable size of the home.  She stated that, with an older property – the home was built in 1929 – you can either destroy it or refurbish it, and her decision as the owner was to refurbish it.

However, to some, any change to the historic home is unacceptable.  According to one source, the daughter of the architect who designed the home says that any variation from the original design is wrong. 

The home is located at 1100 S. Ocean Blvd. in Manalapan, which does not have a preservation board that may have been able to block Hearst’s decision to split the lot if it had been designated a landmark.