A mansion on "Billionaire’s Row" in the town of Palm Beach has sold for $42 million after the seller initially listed the property for $74 million.
Friday’s sale of the 1220 S. Ocean Blvd. estate is tied to the recently resolved Chapter 11 bankruptcy case of a company managed by luxury home developer Dan Swanson. A bankruptcy judge in West Palm Beach on May 9 closed the case of 1220 South Ocean Boulevard LLC. The company in September 2012 filed a voluntary petition, citing $41.5 million in debt.
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