Trump friends Roth, Silverstein bid on $2B FBI headquarters

Miami /
Dec.December 05, 2016 02:15 PM

From the New York website: Vornado Realty Trust and Silverstein Properties are bidding to develop the Federal Bureau of Investigation’s new $2-billion headquarters outside Washington, D.C, but their personal ties to President-elect Donald Trump could complicate matters.

Vornado’s CEO Steve Roth owns the majority stake in Midtown office tower 1290 Sixth Avenue, which Trump owns a non-controlling stake in. The business moguls are reportedly friends, and Roth has also struck business deals with Trump’s son-in-law and consigliere Jared Kushner. Roth also served on Trump’s economic advisory team, although he later distanced himself from it.

Vornado’s share price rose after Trump’s election victory, as did the stocks of many other real estate investment trusts.

The Real Deal recently broke down the risks of crony capitalism and potential conflicts of interest under a Trump administration.

Meanwhile, Trump, who, as commander-in-chief will effectively oversee the FBI starting Jan. 20, has also referred to Larry Silverstein as a friend, the Washington Post reports.

Whoever wins the bidding would not only get around $1 billion in federal funds to develop the project, but would also win control over the FBI’s current headquarters in central Washington, D.C. Trump reportedly thought about bidding for the project himself, before running for President. [WaPo]Konrad Putzier 


Related Articles

arrow_forward_ios
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
Brad Parscale and 2319 Desota Drive (Getty, Google Maps)
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
Donald Trump with sons Eric and Don Jr. and 1125 South Ocean Boulevard (Getty, Google Maps/Illustration by Alexis Manrodt for The Real Deal)
Trump lists beachfront mansion next to Mar-a-Lago for $49M
Trump lists beachfront mansion next to Mar-a-Lago for $49M
Photo illustration of Donald Trump at Mar-a-Lago (iStock, Getty/Illustration by Kevin Rebong for TRD)
Trump argues to live in Mar-a-Lago — as an employee
Trump argues to live in Mar-a-Lago — as an employee
535 North County Road and Mark Pulte with former President Donald Trump (Google Maps; Pulte Family Foundation; Getty)
Spec home built on Trump’s former Palm Beach property under contract for $140M
Spec home built on Trump’s former Palm Beach property under contract for $140M
Trump Plaza’s condo board votes to remove ex-president’s name from West Palm towers
Trump Plaza’s condo board votes to remove ex-president’s name from West Palm towers
Trump Plaza’s condo board votes to remove ex-president’s name from West Palm towers
arrow_forward_ios

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

Loading...