The good news, we guess, is that someone is buying in this market.
WSJ: In Palm Beach, Fla., where a local country club was ground zero for Bernard Madoff, perpetrator of an alleged Ponzi scheme, two of his investors have sold condos at The Breakers for $8.5 million and $7 million, respectively, according to Nadine House, an agent who specialises in the development. One alleged victim is also selling at the Sun & Surf development, according to agent Dorothy “Rusty” Engels-Gulden.
Who do you think bought these condos? And, more importantly, how do you think real estate agent Dorothy Engels-Gulden earned the nickname “Rusty?”
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