Make room in the pool for a whale of a victim of the South Florida housing slump. Malcolm Glazer, a billionaire corporate raider/sports franchise owner, had to mark down a Palm Beach home he was listing for $27.5 million. It sold for just $24 million.
What? You don't feel sorry for the Glazer family? You hard-hearted types should take note that,
according to the Wall Street Journal,
the home had been listed for some 30 days, during which time the
Glazers must have wrung their hands and gnashed their teeth with the
stress that comes with financial uncertainty. It's only a small
consolation that they've never actually lived in the house -- they've
got another colossal home on the island. A short stroll up Ocean
Boulevard is their homestead, a nearly 14,000-square-foot, $ 22.5 million home.
And
whatever humiliation the Glazers suffered from discounting the home,
they should take comfort in the fact that $24 million is still the
biggest home sale in Palm Beach this year. Be brave, Glazers! Be brave.
