Businessman Sells Condo for $9M, Buys New Home For $5M

?Some Florida real estate deals seem to work out better than others. Case in point, a businessman recently sold a condo for a whooping amount of money, then turned around and bought a new home for millions less, but in the millions nonetheless. The story read, in part:
?The Egyptian businessman who last week sold his lakefront condominium in the Parc Regent for just under $9 million has bought a new house developed on speculation about a quarter-mile away. Fakhry Abdelnour had owned the condo through a Florida limited liability limited partnership and used that same entity to buy the four-bedroom house at 221 Atlantic Ave. for a recorded $4.9 million.?

Source: <a href="">Seller of $9M condo pays nearly $5M for Palm Beach house nearby</a> by Darrell Hofheinz.
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