Legendary promoter Don King should know when to get in and get out of a deal. Or so we thought.
The fixture in the boxing industry is selling his Manalapan (right next to Palm Beach and just as exclusive) pad for more than twice the amount he paid 10 years ago. King must be confident enough in the features of his oceanfront mansion to be putting it up for sale for that much in a tumbling real estate market.
The Palm Beach Post: The sale of one of Florida’s most intriguing beachfronters will include the 8-foot replica of the Statue of Liberty in the front yard, something that’s driven his high-brow neighbours nuts for more than a decade.
….In 2005, King’s lit-up Statue of Liberty guided a Haitian immigrant’s middle-of-the-night attempt to swim to shore.
…Asking price for a compound that includes the main home and a guesthouse, a total of 11 bedrooms and 17 bathrooms spread over 32,000 square feet: $27.5 million.
Among the goodies: 3 acres that stretch from the beach to the Intracoastal; 300 feet of waterfront on both sides; and two resort-style pools, each with enough space for up to 80 partiers.
Is King’s estate sale a symptom of (avoiding) celebrity foreclosure? Doesn’t look that way. So, maybe King is tired of looking at this Statue of Liberty?
“It’s time to downsize,” King said. “I’m sure someone else will enjoy living here as much as I have.”
The promoter’s promoter, Robert Weneck, said the sale shouldn’t be affected by the downturn.
King shouldn’t have any problems promoting his digs as he has entertained heads of state and various celebrities over the years there. Apparently, star-studded house tales help sales happen.
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