Million Dollar Florida Real Estate Up For Grabs

2nd Nov 09- Selling a Luxury home worth millions in a battered Florida housing market may prove difficult for one multi millionaire seeking a quick sale in Delray Beach Miami Florida. Mr Helmut Kiener a luxury Florida home owner recently arrested in Germany on suspicion of fraud is seeking a cool $23 million for his house.

 

The ambitious price tag according to one realtor is a step too far from reality

“They are not going to get $23 million,” said Sandra Strickland, a local independent Realtor “Right now, we are mostly flooded with $200,000-and-under properties,” said Strickland, who estimated it’s worth about $12 million.

 

The sale is meant to help refund investors who we owed money by Helmut Kieners K1 Hedge Fund Group. The K1 Group is at the centre of a criminal investigation after saddling banks including JPMorgan Chase & Co. and Societe Generale SA, with about $400 million of losses.

 

The three-story 14000 square foot Georgian-style home features several chandeliers, including one above an oval bath tub, a two-story wood-paneled library and “exotic marble and onyx throughout,” The master bedroom occupies a wing of the first of three floors. It’s now up for grabs with a very motivated seller looking for the right buyer

 

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