Development company files Chapter 11 over pricey mansion

PALM BEACH, FL (WFLX) - The development company trying to sell a brand new $27,000 square foot mansion in Palm Beach has filed for Chapter 11 bankruptcy.

Developer Dan Swanson's group has been trying to sell the French-inspired, nine-bedroom oceanfront mansion for more than a year with no success.

The asking price is $74 million (see photo).

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