Fire Sale: Rio Governor's Mansion for Sale

The video discusses the financial challenges faced by Rio, focusing on the sale of a unique property. The property, managed by a pension fund, is difficult to sell due to the recession and limited market liquidity. Potential uses include a spa, hotel, or rehab clinic. The property's historical status adds complexity, with costly maintenance like sourcing era-specific bricks and repairing a German-made organ. The financial strain extends to Rio's security budget, which was cut by a third, affecting preparations for the Olympics. Despite federal aid, long-term security remains uncertain.

What is the estimated price range for the property discussed?

What steps are being taken to sell the property, and what is the expected outcome?