Sean Hannity has quietly amassed a vast $90M real estate portfolio, records in Michael Cohen case show

Donald Trump’s fixer has been revealed to be attorney for Fox News host

New York /
Apr.April 23, 2018 08:24 AM

Michael Cohen and Sean Hannity (credit: Wikimedia Commons)

Documents filed in Michael Cohen’s court case have revealed that his client and Fox News host Sean Hannity has quietly amassed a real estate portfolio spanning nearly 900 residential units across several states.

Records show that Hannity used multiple LLCs to build a real estate portfolio with at least 877 residential units that he bought for a total of nearly $89 million, the Guardian reported.

The portfolio includes luxury mansions and rentals for low-income families. Dozens were purchased at a discount in 2013 after banks foreclosed on previous owners amid the financial crisis.

Hannity’s real estate attorney, Christopher Reeves, wrote in an email that he would “struggle to find any relevance” in Hannity’s highly confidential property holdings.

“I doubt you would find it very surprising that most people prefer to keep their legal and personal financial issues private,” Reeves said. “Mr. Hannity is no different.”

Representatives for Fox News declined to comment to the Guardian, but Hannity has talked about his views on real estate investing on air.

“I’ve said many times on my radio show: I hate the stock market, I prefer real estate. Michael knows real estate,” he said a few hours after Cohen’s Manhattan court appearance.

Hannity has purchased properties in Alabama, Florida, Georgia, New York, North Carolina, Texas and Vermont. Among the most valuable properties in the portfolio is a pair of two large apartment complexes that Hannity bought in 2014 for $22.7 million. The complexes are in areas of Georgia that have higher poverty rates and lower median incomes than the national averages.

Hannity funded the purchases with $17.9 million in loans he obtained with the help of the federal Department of Housing and Urban Development. But the television host didn’t disclose that fact in June when he had HUD Secretary Ben Carson on air and praised his department’s and the Trump administration’s privatization proposals.

Hannity’s mortgages were replaced late last month with $22.9 million in loans that were rewritten with HUD and a new bank.. There was no indication that Carson was personally involved in the new financing, according to the Guardian. But he does have the authority to allow Hannity to convert the rental complexes into condominiums in 2019.

Beyond his investment properties, Hannity also also personal homes in Long Island and in Naples, Florida. [Guardian]Rich Bockmann


Related Articles

arrow_forward_ios
Secretary of the Department of Housing and Urban Development Ben Carson (Credit: Getty Images and iStock)
“Rich people are going to get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people
“Rich people are going to get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people
Slate Property Group's Martin Nussbaum and a rendering of the project
Hakimian, Certes land $59M loan for East Harlem multifamily project
Hakimian, Certes land $59M loan for East Harlem multifamily project
Watch TRD Brand Studio’s first-ever webinar on the new office normal
Optimizing the office: TRD Brand Studio webinar on the new workplace normal
Optimizing the office: TRD Brand Studio webinar on the new workplace normal
President Joe Biden and New York State Senator Brian Kavanagh. (Getty, Department of Treasury)
Federal guidelines could complicate state’s rent relief rollout
Federal guidelines could complicate state’s rent relief rollout
The reopening of NYC has created a surge of demand for apartments. (Getty)
Reopening sparks signs of a real estate rush
Reopening sparks signs of a real estate rush
The Real Deal's Hiten Samtani and Urban Green Council CEO John Mandyck
Watch: Urban Green Council’s John Mandyck on tackling climate change in NY
Watch: Urban Green Council’s John Mandyck on tackling climate change in NY
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
(iStock)
Job recovery sputters, but hospitality & leisure add hiring
Job recovery sputters, but hospitality & leisure add hiring
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...