"Property market takes $27m bite out of Norman"

TheNewBrad

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Here's an AAP story just out about Greg Norman that some may find interesting.



"Property market takes $27m bite out of Norman

Greg Norman found new love with Chris Evert, but his bank balance has taken another $US17.5 million ($27 million) hit.

The Australian golf champion has become victim of America's sagging real estate market.

Just months after ex-wife Laura Andrassy won $US103 million in their bitter divorce battle, Norman has been forced to slash the asking price for the former couple's Florida mansion from $US65 million to $US47.5 million.

The new price is far from a fire sale.

If Norman secures $US47.5 million for the four-bedroom oceanfront estate on the millionaire's paradise of Jupiter Island, he will break the record for the most expensive sale in the area, eclipsing the $US44.5 million Tiger Woods paid for a nearby mansion in 2006.

Norman and Andrassy bought the home in 1991 for $US4.5 million. It became the centrepiece of their headline-grabbing divorce battle, with accusations the man known as the Great White Shark changed the locks on the property to keep Andrassy out.

Ironically, before the marriage deteriorated the couple nicknamed the home 'Tranquility'.

Under the divorce deal, Andrassy will pocket $US17.5 million from the sale of the house.

Built on 3.2 hectares, the property also features a two bedroom guesthouse, a garage for 17 cars, tennis court, pool and was the focus of worldwide attention in 1997 when Norman's good friend, US President Bill Clinton, injured his knee during a visit.

In June, Norman married 1980s US tennis glamour girl Evert in a high-security beach resort wedding in The Bahamas.

Andrassy, who once counted Evert as a friend, is also moving on with her life.

The former flight attendant is set to buy a $US7.55 million property in New York's millionaire's playground, The Hamptons. It is believed Andrassy plans to tear down the home and rebuild."​
 
Bad journalist... I could list a house for 100MM and then reduce it to 60MM... does that mean the owners lost 40MM? Not even close... Until the house is sold the asking price means nothing.

Now if he would have sold it for less than he bought it for... that would be one thing. If he sells it at asking price now... he would be making a profit of 43MM. That is hardly getting a bite taken out of him.
 
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