Last Wednesday, Donald Trump’s spokeswoman announced the successful sale of his Palm Beach estate, closing at a colossal $100 million. Some speculators claim that this may have been the highest sale price ever seen for any U.S. single family home. The property was originally put on the market in 2006, at an asking price of $125 million.
And if you are wondering about the return on investment for this property, it looks as though he has made quite a profit on this real estate transaction. Trump originally purchased the estate in 2004 at a Bankruptcy Court Auction for $41.25 million. He reported that he spent about $25 million in renovations, some of which included costly repairs due to the terrible South Florida hurricane season during 2005. This Palm Beach oceanfront home has 475 feet of ocean frontage, two guest houses, up to 40 foot ceilings, a large ballroom, eight skylights, and trimmings of gold that are sure to have cost a pretty penny. But you can say it was all worth it with an estimated profit of over $30 million.
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