A Chinatown apartment owned by the former Trump campaign manager is collateral
Former Trump presidential campaign manager Paul Manafort has reportedly reached a deal with the federal government in which one of his New York apartments would act as collateral toward his $11.7 million bail.
Manafort was indicted on charges of money laundering—which was tied to those NYC properties—along with conspiracy and making false statements to federal investigators, among other charges.
According to the Real Deal, the deal that Manafort reached with special counsel Robert Meuller would see four of his properties put up as collateral. The New York City one is an apartment at 123 Baxter Street, which Manafort’s daughter, Andrea, purchased in 2007. One of her father’s shell companies, Jesand LLC, is listed as a co-owner; just this summer, that LLC took out a loan against the property, according to 377Union.com.
The other three properties are a condo that Manafort owns in Virginia, along with homes in Florida and the Hamptons. According to Bloomberg, the terms of the agreement would allow Manafort to travel between his homes; if he skips bail, all four of the homes would be subject to forfeiture.
The condo at Baxter Street is just one of several homes in New York City that are associated with Manafort; there’s also a Carroll Gardens brownstone, which is one of the properties where his money laundering occurred, and a Trump Tower condo.
- Manafort to put up Manhattan condo, Hamptons home to make bail [TRD]
- Manafort Agrees to Post $11.7 Million in Property in Bail Deal [Bloomberg]
- Paul Manafort indicted: NYC real estate tied to money laundering charges [Curbed]