Did Michael Phelps just take a big loss on his condo?
No real estate gold (heidikrauss.com / August 2, 2012)
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TMZ reports today that Phelps finally sold his Fells Point condo -- at a significant loss.
They say Phelps sold the posh pad for $1.25 million last week though he was hoping to get $1.42. The news site doesn't list a source for the information.
The Fell Street condo, part of The Townhomes at the Crescent, was spotted for sale earlier this year. Phelps had bought it in October 2007 for $1.69 million.
The Phelps pad boasted floor-to-ceiling windows, spa bath, rooftop lounge, a fireplace and -- of course -- water views. It spreads over more than 4,000 square feet.
It also had two parking spaces and room for the athlete's famous high-altitude sleeping chamber.
It was assessed for $1.5 million in 2010.
With endorsements from Subway, Head & Shoulders and Visa and post-Olympic plans to buy a race horse, maybe Phelps can shrug off the more-than $400,000 hit.
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