How Trump bought Mar-A-Lago for a bargain price

When Mrs. [Marjorie] Post died she gave the house to the federal government for use as a presidential retreat.

The government eventually gave the house back to the Post Foundation, and the foundation put it up for sale at an asking price of $25 million.

I first looked at Mar-a-Lago while vacationing in Palm Beach in 1982.

Almost immediately I put in a bid of $15 million, and it was promptly rejected.

Over the next few years, the foundation signed contracts with several other buyers at higher prices than I’d offered, only to have them fall through before closing.

Each time that happened, I put in another bid, but always at a lower sum than before.

Finally, in late 1985, I put in a cash offer of $5 million, plus another $3 million for the furnishings in the house.

Apparently, the foundation was tired of broken deals.

They accepted my offer, and we closed one month later.

The day the deal was announced, the Palm Beach Daily News ran a huge front-page story with the headline MAR-A-LAGO’S BARGAIN PRICE ROCKS COMMUNITY.

from his book (ghostwritten by Tony Schwartz) 'The Art of the Deal'
https://www.amazon.com/dp/0399594493/ref=cm_sw_r_tw_dp_x_RL3hAbBWHZWM6