The Real Deal Miami

Mansion Trump sold for $95M will be razed

Donald Trump renovated the Palm Beach estate and sold it to a Russian buyer in 2008

March 27, 2016 10:15AM

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515 North County Road in Palm Beach

515 North County Road in Palm Beach (Credit: RobertStevens.com)

The owner of a Palm Beach mansion that Donald Trump sold in 2008 for $95 million will demolish the property.

The town’s Architectural Commission approved the demolition in 4-3 vote.

Trump bought the mansion at 515 North County Road in 2004 at a foreclosure auction for $41.4 million.

Trump renovated the property and sold it in 2008 to Russian billionaire Dmitry Rybolovlev for $95 million, the biggest home sale in Palm Beach history.

It was unclear if the ownership of the property had changed since Trump sold it. The estate is still owned by County Road Property LLC, the same company that bought it from Trump.

Sources familiar with the estate told the Palm Beach Daily News it could be subdivided for redevelopment of as many as three houses.

The main house spans about 62,000 square feet. The six-acre lot has 475 feet of frontage along the ocean.

The Palm Beach estate formerly was the home of health care businessman Abe Gosman, who died in 2013. He lost ownership of the estate in foreclosure. [Palm Beach Daily News] — Mike Seemuth

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