The Florida seaside mansion owned by the last CEO of Lehman Brothers Holdings before the 2008 market crash has found a buyer for a whopping $32.5 million.
Richard S. Fuld Jr., 75, first purchased the estate in 2004 for $13.75 million, later transferring it to his wife, Kathleen Fuld after the devastating financial crisis hit the Big Apple.
They initially listed the home in March for $39.5 million, according to the Wall Street Journal.
The property is currently under contract and the buyer is reportedly Mark Brodsky, founder of the hedge fund Aurelius Capital Management.
Located on Jupiter Island, the Spanish Colonial-style estate was designed by renowned architect Alan Wanzenberg.
Made up of five bedrooms in the main house and three additional bedrooms in the guest house with 13 total baths, the 3.3-acre property has 265 feet of ocean frontage.
Other notable features include a full gym with sauna and steam rooms, a caretaker apartment above a storage room/garage, a pool, Jacuzzi and a Har-Tru tennis court. The 14,971-square-foot abode also offers complete privacy in the secluded estate section of Jupiter Island.
Before filing for bankruptcy in 2008, Lehman was considered the fourth-largest investment bank in the United States — behind Goldman Sachs, Morgan Stanley and Merrill Lynch/Bank of America — with about 25,000 employees worldwide.
Lehman’s Chapter 11 bankruptcy filing remains the largest in US history and is thought to have played a major role in the unfolding of the financial crisis of 2007 and 2008.
