The Palm Beach Post reported Friday that Fox Business anchor Neil Cavuto purchased the Palm Beach condo of Fox News head honcho Roger Ailes for $525,000 a couple of years ago, which is incredibly cheap compared to the going rate of condos in the area. Ailes had purchased the condo in 1987 for $310,000.
The Post said, “If he were to sell today, however, Cavuto could more than double his cash â€” in less than three years. Realtors on Riviera Beach’s posh island tell Page Two the cheapest luxury condo in the neighborhood goes for $1.1 million.
“Now, that’s a return on investment â€” something Cavuto hasn’t tipped viewers about in his real estate segments.
“‘I’m sure Neil didn’t do it on purpose,’ says Singer Island real estate specialist John Nugent, who has sold more than 60 units at Martinique. ‘Obviously, Roger sold at the worst time. Roger and I actually talked about it. But he didn’t want to hold on to it because he wasn’t using the apartment.'”