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Did Michael Phelps just take a big loss on his condo?

Michael Phelps made history this week, becoming the most decorated Olympian of all time. But the winning seems to stop when it comes to his Baltimore real estate.

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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