The U.S. government is paying $130,000 per month to rent an apartment in Trump Tower — far above the market rate in the building.
The federal General Services Administration signed an 18-month lease from April 2017 until September 2018 for a 3,475-square-foot apartment for $2.39 million. The White House Military Office intends to use the space to support President Trump while he’s at his penthouse, but Trump hasn’t spent a night there since the inauguration, the Wall Street Journal reported.
The apartment’s owner is Alabama businessman Joel Anderson. Per Forbes, Anderson has been a member of the condo board and hosted the “2005 Donald Trump Library Benefit Dinner” in his hometown of Florence, Alabama to raise money for a new library.
According to StreetEasy, the most expensive rental listing at Trump Tower was a 3,725-square-foot pad on the 62nd floor that asked $50,000 a month unfurnished in early 2016.
“To alleviate your principal concern (i.e. that the president of the United States might financially benefit from the lease effort), please know that this residential space is privately owned and that lease negotiations have been with the owner’s representatives only,” acting Undersecretary of Defense for Acquisition, Technology and Logistics James MacStravic wrote in a March 3 letter to Rep. Jackie Speier (D-CA). “We are not aware of any means through which the president would personally benefit from a government lease of this space.”
Currently, the most expensive rental on the market is a $99,000-a-month apartment at the Time Warner Center, according to StreetEasy data. Last year, an apartment at the Pierre Hotel was listed for $500,000 a month. [WSJ] — Konrad Putzier