Conrad Black's home sold for $5 million less than asking

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Conrad Black's opulent Toronto mansion hit the market last month, but it didn't quite fetch its $21.8 million listing price.

Instead, the Bridle Path-area estate - which features a luxe-looking library, an indoor pool and lots of land - sold for $16.5 million. An auction for the 23,000 square-foot property was called off at the last minute after a pre-emptive bidder snatched it up.

Black, however, won't be moving out of 26 Park Lane Circle. "It was sold with a leaseback and potential buy-back," he said to the National Post last week.

Photo by Vincenzo Pistritto.

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