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.