from ZeroHedge:

For a quick check-in on the housing market, lets move to the affluent suburbs of Philadelphia, where a mansion on the ritzy “Main Line” that cost $35 million to build has just sold for a measly $9.26 million.

In the town of Gladwyne, a 32-acre estate at 100 Maplehill Road just sold for $25.7 million less than what it cost to build, according to the Philly Voice. The mansion was “developed by Andrew Barroway, the managing partner of hedge fund Merion Investment Management and a minority owner of the NHL’s Arizona Coyotes,” the report says.