The Wall Street Journal reports that the Meadow Lane mansion of hedge-fund manager awaiting trial James Nicholson has been sold by the Feds for $25.9 million. (Nicholson was accused of a $150 million fraud scheme, and has since pled not guilty.) The house was put on the market by the government back in March with a listing price of $33 million. Should it have sold at that number, it would have been quite the profitable move on Uncle Sam's part - Nicholson paid $27 million for the place just last year. Alas, the Feds took a chop to unload the 10,000 square foot mansion, which comes with 222 feet of beach frontage and a rather sizable tennis court.
Map courtesy Google Maps
· Pimco's Bill Gross Pays $23 Million in California [WSJ, 2nd item]