Manafort to forfeit five NY properties in exchange for keeping certain assets

The former Trump campaign chairman swapped his Trump Tower condo for the contents of one of his bank accounts

TRD New York TRD WEEKEND EDITION /
Sep.September 15, 2018 02:25 PM

Paul Manafort. (Credit: Achim Hepp, Getty)

After striking a plea deal Friday morning with special counsel Robert Mueller’s investigation in which he was to forfeit four properties, it seems Paul Manafort did a little negotiating.

He is now forfeiting five properties–four in New York City and one home in the Hamptons–in lieu of hanging onto the contents of one of his four seized bank accounts and his Arlington, Virginia home, according to NBC. Together, the properties are estimated to be worth a combined $21.7 million.

The four New York City properties include three Manhattan apartments (two of which are in Soho; the third is his Trump Tower pad on Fifth Avenue) and a brownstone in Carroll Gardens. NBC reported that Manafort traded his Trump Tower condo for the contents of one bank account and added a second Soho apartment to the mix in order to keep his Virginia property. All five homes will eventually hit the market.

Manafort retains about $6 million worth of real estate holdings with other properties in Palm Beach and Northern Virginia. [NBC]Erin Hudson


Related Articles

arrow_forward_ios
348 Court Street (Photo by Justin Heiman/Getty Images)

Collapses raise questions about safety-law exemption

Collapses raise questions about safety-law exemption
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
Assemblyman Harvey Epstein and Senator Brad Hoylman (Epstein by Erik McGregor/LightRocket via Getty Images; Hoylman by Roy Rochlin/Getty Images)

Lawmakers introduce bill to keep rent regulation alive

Lawmakers introduce bill to keep rent regulation alive
China’s housing market is into bubble territory

There are fears of a great housing bubble in China

There are fears of a great housing bubble in China
Governor Andrew Cuomo (Getty, iStock)

What NYC’s phase 4 means for real estate

What NYC’s phase 4 means for real estate
Hong Kong

Foreign firms are vacating Hong Kong offices like never before

Foreign firms are vacating Hong Kong offices like never before
Mayor Bill de Blasio (Getty, Wikimedia)

Landlords challenge city laws protecting non-paying businesses

Landlords challenge city laws protecting non-paying businesses
arrow_forward_ios

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

Loading...