Michael Phelps Sells Baltimore Condo at a $400,000 Loss, Report Says

Olympic icon Michael Phelps might take the gold in swimming, but he doesn't even get a bronze when it comes to selling real estate.

Phelps has sold his swanky Baltimore condo, but he took a $400,000 loss on the pad, TMZ reported.

AOL Real Estate contacted the Realtor representing Phelps' home (the website still shows the condo as being on the market), but she refused to disclose whether or not the place had sold. Until we can get confirmation, we can at least get a glimpse into the life of the most decorated Olympian of all time.

Phelps purchased the condo for $1.699 million in 2007, right before the housing market crashed. It has three bedrooms, three full bathrooms, two half-bathrooms and 4,000 square feet of floor space. The modern interior is outfitted with brick, steel and glass, and it features hardwood floors. Fit for a champion swimmer, the apartment is located on Baltimore's Inner Harbor, with city and water views, and the building has a heated indoor swimming pool and fitness center.

Phelps listed the apartment in March for $1.42 million, and, according to TMZ, he recently sold it for $1.25 million.

See more pictures of Phelps' condo below.

See also:
Olympic Stadiums Then and Now
Athens Olympics Stadium in Decay (PHOTOS)
Astrodome, World's '8th Wonder,' Lies Abandoned (PHOTOS)

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Reader Comments (6)

by Jerry Okamura - August 3rd 2012 @ 1:22PM

How can an "amatuer" athlete afford to buy such a place?

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by CTG - August 3rd 2012 @ 5:59PM

He has been paid over $40 million in product endorsements since the last Olympics. He's still an amateur because he doesn't get paid for swimming, other than the bonus he gets from the US Olympic Committee for winning medals.

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by Snook - August 3rd 2012 @ 2:45PM

Just great, Phelps is trying to sell a million dollar apartment and Rubio wants to give him a tax break on his winnings in the olympics. When do I get my tax break?

by pipe - August 3rd 2012 @ 3:15PM

When you start working as hard and smart as he does maybe you will not be taxed for your hard work. Until then just keep coasting and the rest of us will pay your way!

by mrsaep - August 3rd 2012 @ 10:18PM

So, he lost money? Hello, have you been paying attention the housing market? Everyone is losing money. It's not news just because it's Michael Phelps. My husband and I are relocating and we'll probably lose $100K.

by linjack39 - August 4th 2012 @ 10:56AM

And we're supposed to feel bad for him because he has to pay some taxes for his medals? A lot of these Olympians are millionaires.

6 Comments / 1 Pages