Thaindian News

July 13, 2010 (Pen Men at Work): Rush Limbaugh selling off his posh condo has been making news of late. He had earlier promised to get out of New York, in order to avoid tax increments. However who would know that the radio-host wasn’t joking? He proved what he said by selling off his condo.

This radio host is someone who’s been surrounded by controversy. He frankly had no big need for his condo in New York, since he doesn’t stay in the city. He mostly stays at his beach mansion on Palm Beach, Florida and is worth 40 million USD. Rush Limbaugh takes a flight to the Big Apple just a few times each year and therefore as one can understand that the condo wasn’t really a necessity for him.

He initially had quoted a huge amount of 13.5 million US Dollars which went down to 11 million US Dollars soon. He however made 6 million US Dollars net capital gains on his sale.

The sale of his luxurious condo fetches him 11 million US Dollars and at the same time triggers a 350,000 US Dollars tax bill for both the city and the state. It is not surprising, therefore that he wishes to move out. He earlier had promised to move out of New York in the month of March. He had announced the news of his departure from the Big Apple via his radio show.

The condo has an area of 4,661 square feet with a 10 bedroom space. It’s located on the 20th floor of a hotel that has been converted. The hotel stands on the East 86th Street.