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Billionaire George Lindemann Takes A Bath On Sale Of Palm Beach Mansion!

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Billionaire George Lindemann Takes A Bath On Sale Of Palm Beach Mansion!

George Lindemann Palm Beach

Location, location, location! (MLS photo)

PALM BEACH — George Lindemann, one of the richest men in the world, just sold his Palm Beach mansion for $25.2 million, accepting nearly $7 million less than his original asking price.

Guess it’s obvious he didn’t make his billions in the real estate game!

Lots of things seem to be slipping for the 81-year-old Lindemann.

When he listed the house at 1565 North Ocean Way for sale in May 2015, he was the 144th richest guy in the world with $4.2 billion to his name, according to Forbes.

Now the poor guy, who made his money through cell phones, oil pipelines and cosmetics, is worth a paltry $3.1 billion and is only the 668th richest guy in the world.

Lindemann and his wife Frayda bought the 11,000-square-foot, 3.4-acre oceanfront property for $23.5 million in 2008.

George Lindemann Palm Beach

George Lindemann’s old house is very different than other houses in Palm Beach (MLS photo)

It’s not like many of the other mansions out there, and that could be why it took so long to sell, and only fetched seven percent more than the Lindemann’s paid nine years ago.

Sure, it has a gated front entry, a service entrance, a heated pool, a guest house, blah, blah, blah.

But this 1937 house was redesigned by Peter Marino, interior decorator, to showcase the Lindemann’s collection of Southeast Asian art.

You’ve got to see it to believe it.

George Lindemann Palm Beach

George Lindemann just sold this Palm Beach house for much less than he’d hoped (MLS photo)

George Lindemann Palm Beach

Now, you’re talking! (MLS photo)

George Lindemann Palm Beach

A Southeast Asian theme permeates the house (MLS photo)

1 Comment

1 Comment

  1. 1Ronald

    June 19, 2017 at 8:19 pm

    Asking price was too high. Even with the redesign, he realized nearly a $2 million profit after holding and living there for 7 years. And you never let redesign get out of cost control. There is no over blown market demand for oceanfront property although many of us consider it highly desirable. However, you over price ocean front property and it just sits. Plain and simple. Right, Billy Joel? George and his health would have been better off sitting on it, enjoying it, and breathing in deeply that ocean air every day. You can’t put a price on your health and what the ocean and each morning’s sun offers. Property, like anything else, is only worth what someone else is willing to pay for it.

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