As former Donald Trump presidential campaign chairman and lobbyist Paul Manafort serves his prison sentence after being convicted in the investigation on Russia’s role in the 2016 U.S. presidential election, federal authorities have listed his swanky Manhattan apartment for sale for $3.66 million.
After pleading guilty to conspiracy charges last year, Manafort also agreed to have a $22 million real estate portfolio seized in his lawyers’ push for a lighter sentence.
As first reported by The New York Post, the fourth floor of 29 Howard St. in Manhattan’s SoHo neighborhood is the first of Manafort’s five seized properties that the U.S. Marshals Service put on the market thus far.
Credit: Chip Somodevilla / Getty Images
As was revealed from testimony revealed during his federal trial, Manafort told his daughter and son-in-law to pretend that they had been living in the condo even though he rented it out on Airbnb, charging, at one point, $14,000 per month.
In a separate case, a Virginia jury found Manafort guilty of bank fraud related to his misrepresentation this apartment. Manafort’s involvement with the loft was also mentioned in a recent state indictment in which the Manhattan District Attorney accused him of residential mortgage fraud among other charges.
Manafort is reportedly expected to be moved to New York’s Rikers Island prison as he waits for an arraignment.
Other properties that have been seized in the deal include a Brooklyn brownstone with an estimated worth of $4.1 million, an apartment at Trump Tower worth an estimated $2.4 million, a Chinatown loft worth up to $3.8 million and a Hamptons mansion worth up to $7.2 million.
At the end of the federal trial, Manafort was sentenced to 7.5 years in prison for conspiring to hide tens of millions of dollars earned through undisclosed lobbying for pro-Russian politicians in Ukraine.
Ari Harkov, a broker who has sold apartments in the same building, told The Post that the connection to Trump and Manafort is likely to turn off potential buyers, particularly in a city with a highly liberal population like New York.
“I think there are buyers who wouldn’t buy it or would be less interested because of it,” he said.
How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!
Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.
