Donald Trump Makes Real Estate Killing

By:: MortgageLoan.com | July 18, 2008

Property Tycoon, Donald Trump has defied the slump in the real estate market by selling his Florida Mansion for $100 million to a Russian billionaire.

"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 phone interview with the Associated Press.

Trump originally bought the mansion in 2004 as part of a bankruptcy settlement for $41 million and set about renovating the property. According to a spokesperson from Trump stable's the sale of the ocean-front property is the largest of its kind in U.S history. A claim that so far remains unsubstantiated.

The Palm Beach property known as Maison de L'Amitie will now become the property of fertilizer oligarch, Dmitry Rybolovlev.

The sales price failed to meet Mr. Trump's original evaluation of $125 million, but he said, "I think it's a great sign for the area, a great sign for Palm Beach and all that Palm Beach represents." Trump concluded.

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