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Tuesday, January 26, 2010

Your request is being processed... Trump Sells $100M Palm Beach Mansion (PHOTOS)

Much of the country's real estate market may be languishing, but not apparently in Palm Beach, where Donald Trump earned a return of more than 130% after his luxury beachfront mansion sold for a record $95 million. The Apprentice seasons 1-8 DVD boxset

The 60,000 square-foot property, which Trump bought in 2004 for $41 million, was purchased by Russian billionaire Dmitry Rybolovlev.The Apprentice DVD set

Even though he sold the house for $25 million less than he initially asked, Trump interpreted the sale as an encouraging sign for the housing market: "[It] shows that you can still do well in real estate," he said.buy The Apprentice DVD set

But Trump's wasn't an instantaneous flip: after Kendra Todd beat out her competitors on his reality television program "The Apprentice," he charged her with massively renovating the mansion. As part of the $25 million fix-up, Todd reportedly encrusted it with myriad diamond and 24-carat gold fixtures.The Apprentice seasons 8 DVD boxset

For his part, Rybolovlev, who amassed his fortune selling fertilizer, said he saw the purchase as an "investment" more than a new residence:The Apprentice DVD boxset

"This acquisition is simply an investment in real estate by one of the companies in which I have an interest," Mr. Rybolovlev said in a statement released by Alan Basiev, the head spokesman for Uralkali. It "does not represent a decision by me to live in the U.S."buy he Apprentice DVD boxset

Maison de L'Amitie, as the property is called, sits on 475 feet of ocean, and has 22 bathrooms and a 48-car garage. Trump paid $980,033 just in real estate taxes alone on the home in 2007.

Check out the mansion for yourself:

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