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Home sale a loss for star Phelps.

Byline: ADELINA CAMPOS

OLYMPIC champion Michael Phelps has sold his US bachelor pad at a $440,000 (EUR355,000) loss.

The swimming champion bought the place at the height of the property boom in 2007 for $1.699million (around EUR1.4million).

He hoped to recoup most of his losses by putting the plush flat on sale for a cool $1.42million (EUR1.1million).

But the three bedroom, two and a half bathroom property failed to attract offers and it eventually sold well below the asking price, for just $1.25million (EUR1million), according to reports. Phelps, who is the most decorated Olympian of all time, is believed to be seeking an even bigger and more luxurious property in his home state of Maryland.

His previous 4,080 sqft home in Fells Point featured hardwood floors, a large master suite with a spa bath and panoramic views over the city.

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Publication:Sunday Mirror (London, England)
Date:Aug 5, 2012
Words:153
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