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'The Super Bowl of Real Estate'
The front steps leading up to Donald Trump's oceanfront home in Palm Beach, Fla. The real estate mogul calls Maison de L'Amitie's $125 million price tag a bargain.
(Photos By Steve Mitchell -- Associated Press)
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Smaller on acres but bigger in square footage is Trump's property, called Maison de L'Amitie, which he bought for about $41 million in 2004. He assigned renovations to "Apprentice" winner Kendra Todd. The home's approximately 80,000 square feet are spread over several buildings. Separate coat closets and bathrooms for men and women off the main entryway make entertaining easy, and the large pool overlooking the ocean seems like a given.
Sara Clemence, an editor for Forbes.com who wrote its listing report, said properties at the top end of the market have been moving upward for years, but the recent $100-million-plus listings are significant.
"One of the things that surprises me is that all this is happening all at once," Clemence said. "I'm not sure if all these sellers and Realtors are looking at each other or if they're just coming to the same conclusion all at the same time . . . you can price a property for $100 million and up.
"That said, just because you ask for it doesn't mean you're going to get it," Clemence said.
The price tags on the homes don't seem to have deterred a small cadre of buyers. The Lake Tahoe property, called Tranquility, and the Aspen property, called Hala Ranch, have both already entertained buyers, according to agents. The interested parties are confidential, but they include business people from the United States and overseas.
Owning properties like these requires a large bank account. Taxes alone on the Palm Beach property if sold at its current asking price would amount to more than $2 million annually, according to the Palm Beach County property appraiser's Web site.
Trump, for his part, was surprised to hear his property had competition for the top spot in the United States. "Who's at 135?" he asked.
He didn't seem sore, though.
"I think my property is worth more than $125 million," he said. "It's a bargain."
