Hulk Hogan rarely loses a match, but the real estate market got him in a financial figure-four leg lock.
The wrestler hung on for five years as he watched the asking price for his Belleair mansion fall from $25 million to under $10 million. He finally tapped out Friday, selling the 17,000-square-foot waterfront mansion for $6.2 million.
Michael Galinski, CEO of America II Electronics in St. Petersburg, a global distributor of semiconductor components, paid cash for the estate, which includes five bedrooms, eight full baths and three half baths, a gym, a rec room, a tanning room, a wet bar, a hot tub, a guest house, a swimming pool with waterfalls and two docks on the Intracoastal Waterway. The property served as the backdrop for the reality series Hogan Knows Best.
Hogan, whose real name is Terry Bollea, and his then-wife Linda bought the land in 1992 for $2 million and built the house in 1996.
Mark Puente can be reached at [email protected] or (727) 893-8459. Follow him on Twitter at twitter.com/markpuente.