Estate On Palm Beach's Billionaire Row Sells For A Bargain

Florida's housing market is picking up in places, but a home in Palm Beach just sold for more than 40 percent less than the asking price. The 20,000 square foot home was originally on the market for $74 million. According to The Wall Street Journal, it sold on Friday for a mere $42 million.

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RENEE MONTAGNE, HOST:

Speaking of building, our last word in business today comes from the Florida real estate market - and the word is: deep discount.

LINDA WERTHEIMER, HOST:

Florida's housing market is picking up in places, but a home in Palm Beach just sold for 40 percent less than the asking price. Then again, it was one of the state's priciest listings.

MONTAGNE: The 20,000 square foot home was originally on the market for $74 million. According to The Wall Street Journal, it sold on Friday for a mere $42 million.

WERTHEIMER: The nine bedroom French chateau-style estate is located in an area known as Billionaire's Row. So I guess you could call the deal a Billionaire's Bargain.

And that's the business news on MORNING EDITION from NPR News. I'm Linda Wertheimer.

MONTAGNE: And I'm Renee Montagne.

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