Paul Manafort used to live in a multimillion-dollar condo in Trump Tower, but now he lives in prison. That multimillion-dollar condo, meanwhile, is in the hands of the federal government, which has formally seized the apartment. A cool new house for the Feds! I only hope, for their sake, that Manafort’s a better decorator than his crime boss.
According to CNN, on Thursday Judge Amy Berman Jackson issued an order officially granting the Justice Department’s request to seize Manafort’s condo, which he purchased through a very illegal shell company about a decade ago and mortgaged for about $3 million in 2015.
The two-bedroom, 2.5-bath apartment makes up 1,509 square feet, and is basically a steal. Though Manafort told prosecutors it was worth $6 million, apartments in Trump Tower have seen a real drop in worth over the last year or so for some reason, and Zillow says this Fifth Avenue bad boy’s down to $2.5 million, if you want it.
This isn’t the only new home the government gets, though it is the only one in Trump Tower. Manafort, who was sentenced to seven-and-a-half years in prison in March for doing very dumb crimes, has had to forfeit about $22 million worth of property to the feds, including a Soho loft, a Brooklyn townhouse, and a house in Long Island with a tennis court. The government will sell the properties, along with the Trump Tower condo, to pay down Manafort’s extensive debts.
UBS Bank will get repaid nearly in full once the US Marshals Service sells the condo, and the US government will pay back condominium charges to the Trump Tower condo board, which is run by employees of the Trump Organization, as part of a forfeiture deal.
In all, the government has seized several of Manafort’s properties and will sell them to pay off his debts to banks and other expenses. The US government will reap $11 million from the Manafort forfeiture after paying back his debtors, plus the government will receive back taxes Manafort owed to the IRS and court fines.
It’s not all bad news—Manafort does get to keep his ugly ostrich jacket.