After sitting on the market for over a year, the most expensive home in New Mexico is no longer the most expensive.
After his death by suicide in his jail cell, the disgraced former financier left behind a large real estate portfolio. The price of his New Mexico mansion has dropped from $27.5 million to $18 million, according to a report.
The 33,339- square-foot mansion has been on the site for over 500 days.
There are multiple residences, stables, and an air strip in the compound. It is close to Santa Fe.
His properties in New York City and Palm Beach were quicker to sell, even though his New Mexico home has been difficult to sell.
The Manhattan house was purchased for nearly 40 million dollars under its original asking price. He sold his mansion in Palm Beach for $18 million.
Dolly Lenz, founder and CEO of Dolly Lenz Real Estate, said that Zorro Ranch was more difficult to sell than other properties because of its high price.
New York and Palm Beach were blessed with world-class locations, addresses, grandeur, and scale, and yet were priced very well to sell quickly.
She said that the below- market sales prices made them very tempting and too good to pass up.
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