Trump this Florida Fix and Flip

Posted at 7:43 AM, Sep. 2, 2008

How’s the Florida real estate market doing?  Well, if you ask Donald Trump, it’s doing just fine.  He recently sold his modest 60,000 square foot Palm Beach home for a clean $95Mil. Maison de L'Amitie, is one of those fountain in the drive, white marble column, gold fixtures in the bathroom kind of places and is apparently one of the most lucrative Florida fix and flips in recent memory.

Before he put the house on the market, Trump had his apprentice, Kendra Todd renovate the property, do a little gardening and properly stage it.  Though $95Mil is not the $125Mil Trump hoped to get, it sure beats the $41.35Mil he paid in 2004.  Though the cost of the renovations isn’t known, that’s a cool $54Mil profit.  Not bad for a four year real estate investment.

It could be however that all of the renovations were unnecessary.  The guardian reports that Russian buyer, Dmitry Rybolovlev could care less about the trappings of the house.  They speculate he bought it for the 475 foot stretch of prime Florida beach in the backyard.  And why wouldn’t he?  Anyone who lives here knows that Florida real estate will always be in demand because Florida beaches never go out of style.

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