Paul Manafort to hand over Trump Tower condo, house in Hamptons in plea deal

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Former Trump campaign chair Paul Manafort pleaded guilty Friday to two federal crimes as part of a plea deal in which he agreed to cooperate with the special counsel’s Russia probe. AP Justice reporter Eric Tucker explains what it all means. (Sept. 14)
AP

WASHINGTON – Paul Manafort is going to have to give up the goods – literally. 

As part of his plea deal with special counsel Robert Mueller, Manafort is going to have to surrender a lot of valuable real estate to the government, including a condo in Trump Tower. 

Prosecutors detailed the former Trump campaign chairman’s lavish lifestyle in the federal fraud trial in Virginia that led to his conviction on eight felonies. Now, he’ll have to hand over a big chunk of his wealth in part of the deal that included him pleading guilty Friday to two conspiracy charges. 

In addition to the high-rise condo owned by his former boss, Manafort will have to forfeit a brownstone in Brooklyn, New York, another condo in lower Manhattan, a house in the Hamptons, a house in Arlington, Virginia, three bank accounts and a life insurance policy. 

The Trump Tower condo, #43G, last sold for $3,675,000 in 2006, according to real estate website Zillow. The site estimates the unit at the building at 721 Fifth Avenue, which Donald Trump built in 1983, is now worth just over $3 million.

As for the other real estate, the Brooklyn property sold in 2013 for almost $3 million and is estimated to currently be worth more than $4 million. The Howard street condo in New York is valued by Zillow at more than $3.2 million, the house in Arlington at nearly $1.7 million and the house in the Hamptons – which features a tennis court and a putting green– at almost $7.3 million. 

In Manafort’s Virginia trial last month, prosecutors went into detail on how the former lobbyist spent nearly $1 million alone on suits, sport coats, shirts and jackets – including a $15,000 ostrich coat. They also said he bought a $21,000 watch, $1 million in goods from JJ Oriental Rug Gallery, three Land Rovers and was leasing a Mercedes Benz.

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A look at former Trump campaign manager’s controversial career

More: This is what Paul Manafort was found guilty of

Prosecutors say Manafort concealed and failed to pay taxes on more than $60 million in income from a Ukrainian political party with Russian ties and thereby “cheated the United States out of over $15 million in taxes.” 

He then “used his hidden overseas wealth to enjoy a lavish lifestyle in the United States” and “spent millions of dollars on luxury goods and services,” the government alleged, adding that he “used these offshore accounts to purchase multi-million dollar properties in the United States.”

The ostrich coat, rugs and other individual luxury items are apparently safe, since they were not specifically mentioned in the agreement. 

Contributing: Christal Hayes and Brad Heath, USA TODAY

 

 

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