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Donald Trump to Buy Ed McMahon's House
Friday August 15, 2008

ed macmahon and donald trump

Ed McMahon may soon have a famous new landlord.

On Thursday, Donald Trump announced that he will buy McMahon's gated, six-bedroom Beverly Hills estate, saving it from foreclosure.

He told the Los Angeles Times that he is buying it for an undisclosed amount – it was listed at $4.6 million last weekend, down from a peak price of $7 million — and lease it to the famous TV personality.

The 62-year-old Trump — who doesn't know McMahon, 85 — said making the deal "would be an honor."

"When I was at the Wharton School of Business, I'd watch him every night," Trump told the Times. "How could this happen?"

In June, news broke that McMahon defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. He has not worked for about 18 months due to a neck injury.

McMahon's rep tells the Associated Press that all the paperwork has not yet been completed, but that McMahon was "very optimistic" the deal would go through.

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