Town of Palm Beach News

More Mini Mansions Coming to Donald Trumps Former Property

Last Tuesday, the Town of Palm Beach’s Town Council members have approved a request to subdivide the little over 6 acre property, commonly known as The Maison de L’Amitie, which is located at 515 North County Road. That could mean More Mini Mansions Coming to Donald Trumps Former Property.

The property was sold in 2008 by now Presidential candidate Donald Trump to Russian billionaire Dmitry Rybolovlev for $95 million in a deal which is, to this very day, the single highest dollar amount a property has been sold from one person to another on the island. When Mr. Rybolovlev, a business mogul who is worth an estimated $8.5 billion, made the multi-million dollar purchase, the property boasted a few buildings (which has since been demolished) and an enormous 11 bedroom mansion in the middle of it all.

When asked about the pricey purchase Rybolovlev stated that it was “an investment in real estate by one of the companies in which I have an interest”. The property then sat there, seemingly dormant and uninhabited until now, when it seems as if Rybolovlev is looking to make some return off of his investment made 8 years ago.

More Mini Mansions Coming to Donald Trumps Former Property

That is why Mr. Rybolovlev’s people have asked the town of Palm Beach permission to split up the land and, as of last Tuesday’s Town Council meeting, the council members have decided to authorized the request to subdivide the property into 3 separate lots; which could bring in as much as $40 million each, stated the Palm Beach Daily News in a recent article.

The question residents of The Town of Palm Beach are left with now is: what is to become of the vacant lot once the mansion is torn down and the land subdivided? Though it is too early for anyone to know for certain, one can assume that they might be sold as empty lots so that the buyers can build their own luxurious homes to their exact specifications. That usually leads to More Mini Mansions Coming to Palm Beach Island.

One thing is for sure though, with over a 100 feet of sandy private beach per lot, they won’t be on the market for long.

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Jess specializes in local news coverage. She is a hands on reporter attending every event and meeting she can in the community.

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