« Citigroup Takes over $14 Billion in Write-Downs, Cutting 9,000 More Jobs! | Main | U.S. Government Finally Starting to Respond to the Ethanol Disaster »

Apr19
Housing Slowdown? Not for Mansions. One in Palm Beach Sells for $81.5 Million

The oceanfront mansion built by Sidney Kimmel, founder and chairman of Jones Apparel Group (NYSE:JNY) and a film producer, sold in Palm Beach for the asking price of $81.5 million.

Kimmel who is also known for his work as a philanthropist, got the full asking price of the property, as quality mansions are in high demand and always draw interest.

Buying the property was John L. Thornton, who used to be a Goldman Sachs (NYSE:GS) partner and chairman of the Brookings Institution.

Included with the home was 5 beautifully landscaped acres and 300 feet of ocean frontage. The home was 32,000 square feet and was designed by Thierry Despont, who was also responsible for the extraordinary home of Bill Gates.

Palm%20Beach%20Mansion%20Sells%20for%20%2481.5%20million.jpg

Also coming with the acquisition was staff quarters, a wine cellar, waterfalls, 27-zone air conditioning and a pool.

In the living room there are 20-foot-high glass panels which will go down hidden into the floor when a button is pushed.

This is a new record for Palm Beach property. The former record of $70 million came from the sell of Ron Perelman's estate four years ago.
 
Taxes on the property? A hefty $517,775 in 2007.

During the drop in prices of homes in Palm Beach County of 4 percent since the latter part of 2005, homes in the city of Palm Beach have increased by in price by 13 percent.

Sponsored link: The outsourcing every manager requires - Tampa Locksmith


0 Comments/Trackbacks




submit a trackback

TrackBack URL for this entry:

post a comment

Name, Email Address, and URL are not required fields.





Comment Preview

« Citigroup Takes over $14 Billion in Write-Downs, Cutting 9,000 More Jobs! | Main | U.S. Government Finally Starting to Respond to the Ethanol Disaster »

Advertise

Related Resources

recent comments

    sponsored ads



    subscribe


    Prefer Email?
    Subscribe below-

    Enter your Email:


    Powered by FeedBlitz What's this?

    Current News

    Support This Blog

    blogroll


    My site was nominated for Best Business Blog!

    I'm a C-list Blogebrity

    business social media

    Use these fast growing business social media sites to promote your business, feature your products, spotlight your business leaders, create links, and drive traffic back to your company site, all for free!

    BIZZlogos - Add your logo - free link to your site
    BIZZphotos - Add photos of your products and people
    BIZZprofiles - Submit your profile and build your online visibility
    BIZZspotlight - Spotlight your business with free links
    BIZZvideos - Videos about businesses, products and business people.
    BIZZbites - "Digg" for Business - Submit your articles and posts

    Know More Media - Management / Operations

    know more media network

    View Network Map

    Network Feed List (OPML)

    Know More Media Network
    Feed


    we support unitus

    PRWeb

    Influencer



    ManagersRealm is a member of the Know More Media network of business related blogs.

    Here are some current headlines from some of our business publications:

    ProductivityGoal

    CallCenterScript

    AdHurl

    TheBizofKnowledge

    LandingTheDeal

    CustomersAreAlways

    HealthCareVox

    BrainBasedBusiness

    TheInsurancePolicy

    MarketingBlurb