The Real Deal Miami

Hearst keeps mansion

July 08, 2008 08:48AM

Veronica Hearst, widow of publishing heir Randolph Hearst, managed to sell her Manhattan co-op and save her Manalapan mansion from foreclosure. The Fifth Avenue property sold for $36.5 million, allowing her to pay off the $23.5 million owed to the lender on the Manalapan property, said Hearst’s attorney, Al LaSorte of Shutts & Bowen in West Palm Beach said. Hearst was behind in payments on a $47 million mortgage held by New Stream Capital, which paid $22 million at a foreclosure auction for Hearst’s 28,000-square-foot mansion.