Seaside mansion of Lehman Brother's last CEO sells for $32.5M

The Florida seaside mansion owned by the last CEO of Lehman Brothers Holdings before the 2008 market crash has found a buyer for a whopp...


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 has a five bedroom main house plus a three bedroom guest house.
The property has a five-bedroom main house plus a three-bedroom guest house.
Daniel Petroni Photography
The pool.
The pool.
Daniel Petroni Photography
The main foyer.
The main foyer.
Daniel Petroni Photography

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.

The outdoor dining space.
The outdoor dining space.
Daniel Petroni Photography
The formal living area.
The formal living area.
Daniel Petroni Photography
Richard S. Fuld Jr., chairman and chief executive officer of Lehman Brothers is pictured here from panel discussion during the World Economic Forum in Davos, Switzerland on January 25, 2007.
Richard S. Fuld Jr., pictured here in 2007.
Bloomberg via Getty Images
An employee of Lehman Brothers Holdings Inc. carries a box out of the company's headquarters (background) September 15, 2008 in New York City.
An employee of Lehman Brothers Holdings Inc. carries a box out of the company’s headquarters on September 15, 2008 in New York City.
Getty Images

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. 

The informal den with a pool table.
The informal den with a pool table.
Daniel Petroni Photography
The gourmet chefs kitchens with a wooden top island.
The gourmet chef’s kitchen with a wood-topped island.
Daniel Petroni Photography
The formal dining room with oversized windows.
The formal dining room with oversized windows.
Daniel Petroni Photography
One of five bedrooms in the main house with ocean front views.
One of five bedrooms in the main house with ocean views.
Daniel Petroni Photography

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.

The Lehman Brothers' name is illuminated at what used to be the headquarters of Lehman Brothers Holdings Inc. on September 15, 2008 in New York City.
The Lehman Brothers’ name is illuminated at the headquarters of Lehman Brothers Holdings Inc. on September 15, 2008 in New York City.
Getty Images

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Newsrust - US Top News: Seaside mansion of Lehman Brother's last CEO sells for $32.5M
Seaside mansion of Lehman Brother's last CEO sells for $32.5M
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