The Trump Organization has quietly sold off one of the president’s last remaining Los Angeles homes for $13.5 million.
According to the Washington Post, Donald Trump Jr. signed the deal that would transfer the Beverly Hills mansion to a company registered in the British Virgin Islands called Hillcrest Asia Ltd. The Tudor-style home in Beverly Hill was purchased by the Trump Organization for $7 million back in 2007. At the time, President Donald Trump still controlled the organization; at the start of his presidency, he relinquished leadership to his two sons Donald Jr. and Eric.
The two-story home was built in 1927 and has five bedrooms and six bathrooms across 5,395 square feet. The property also has a swimming pool and a large manicured lawn on the front.
Google Earth
While few details about the off-market sales have been made available to the public, Eric Trump told the Real Deal Los Angeles that the house wasn’t used much anymore.
“Given my father’s presidency and our hectic schedules, our family has not had the chance to enjoy the property in recent years and it has seen minimal use,” he said “As such, it simply made sense to sell.”
Trump also owned a second house on the same block, which he sold for $10.3 million in 2008. The latest Beverly Hills mansion had been assessed at $8.3 million — as a result, the steep sales price puzzled at least one L.A. agent.
“Seems a little rich, to be perfectly frank,” Luis Pezzini, the chief executive of Pezzini Luxury Homes in West Hollywood, told the Washington Post. “Unless there’s something spectacular about this [house] that I’m missing.”
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.