Dmitry Rybolovlev has sold one-third of a Palm Beach lot that he purchased from Donald Trump in 2008.
Dmitry Rybolovlev has sold one-third of a Palm Beach lot that he purchased from Donald Trump in 2008.

County Road Property, a trust linked to Russian billionaire Dmitry Rybolovlev, has sold one of the three Palm Beach oceanfront lots created from a 6.26-acre property previously owned and sold by President-elect Donald Trump. The 515 North County Road Trust, whose owner is “not immediately clear” according to the South Florida Business Journal, purchased the 2.72-acre property from County Road Property for $34.34 million, or $12.6 million per acre.

Trump acquired the full property, then 6.26 acres, at auction for $41.35 million in 2004. He performed some renovations on the property’s 60,000 square-foot mansion before he sold the lot to Rybolovlev for $95 million, or $15.2 million per acre, in 2008.

Rybolovlev demolished the mansion and listed the divided lots this year.

Read more >