Fsbo

Russian fertilizer billionaire Dmitry Rybolovlev is the mystery buyer of Donald Trump’s property at 515 N. County Road, according to reports from The Wall Street Journal and Reuters.

After two years of marketing, Trump cut the price of the former Abe Gosman mansion from $125 million to $100 million. The value of oceanfront lots typically is measured in price per foot of ocean frontage, and given 515 N. County’s 475 feet of beach, this deal translates to $210,000 per foot.

Rybolovlev, 41, is one of Russia’s richest businessmen. Since 1996, he has been the chairman of JSC Uralkali, a major fertilizer maker. Described by a Moscow analyst as "a cash cow," Uralkali provides more than 13 percent of the global market for potash. The Forbes list of the world’s billionaires places him at No. 59, with an estimated net worth of $12.8 billion.

"This acquisition is simply an investment in real estate," Rybolovlev said in a statement released by Alan Basiev, Uralkali spokesman. sIt "does not represent a decision by me to live in the U.S."

Trump bought the property for $41.35 million in 2004, then put $25 million into renovations. He put the estate up for sale in 2006.

This entry was posted on Tuesday, June 24th, 2008 at 11:12 am and is filed under FSBO. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Rate this post

(No Ratings Yet)

 Loading ...