The Real Deal New York

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
September 15, 2018 02:25PM

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