Skip to content

For Only $14,200, You Can Stay in Paul Manafort's Manhattan Condo

Oct. 31, 2017
3 min read
pasted_image_at_2017_10_31_01_31_pm
For Only $14,200, You Can Stay in Paul Manafort's Manhattan Condo
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don’t cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.

If you ever feel the urge to experience what it's like to get a whiff of the political and legal storm now engulfing the Trump administration, all while visiting New York City, you can indulge yourself — for only $14,200 per month.

That's the price of a rental at a Manhattan condo owned by former Trump campaign advisor Paul Manafort, who surrendered to authorities Monday after being charged in the ongoing investigation by special counsel Robert Mueller into possible Russian interference in the 2016 presidential election.

The two-bedroom, two-bathroom, fourth-floor Soho apartment just a block north of Chinatown features northern and southern exposures, exposed brick walls, a wood-burning fireplace, and an excellent view of one of the city's few remaining cobblestone streets, Crosby Street, a popular site for romantically rain-covered car commercials and fashion shoots. Pets are welcome.

Image from corcoran.com

Manafort and his wife, Kathleen, are listed as the primary parties on the official New York City real estate forms, both with the same Palm Beach Gardens, Florida, address as their official residence. The city records them as having mortgages of various amounts with Citizens Bank, the largest for $2,730,000. According to the federal indictment, Manafort used the dummy corporation MC Holdings, LLC — the seller listed in one of the New York City filings — to buy a condominium at the address on Howard Street for about $2,850,000, using money from Cyprus, where Manafort is accused of hiding money in secret accounts. The Howard Street apartment is the one Manafort allegedly lied about to a bank, according to the indictment, so he could receive more favorable terms for loan of $3,185,000 in March 2016, while declaring it a rental property to the IRS for the tax benefits.

"MANAFORT used the property from at least January 2015 through 2016 as an income-generating rental property, charging thousands of dollars a week on Airbnb, among other places," the indictment reads. "In his returns, MANAFORT took advantage of the beneficial tax consequences of owning this rental property."

At 2,500 square feet, the rental comes to about $5.68 per month per square foot. (The average rental price for all of New York City is $4.98 per square foot, one of the highest in the world, but that includes much cheaper far-flung rentals within the city limits. Another 2017 survey found that monthly rentals in nearby Tribeca, for example, came to $80 a square foot, making Manafort's condo a relative deal.)

Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

Manafort's condo is no longer listed on Airbnb, but is still up on the Corcoran website. (A call to the listed agent was not returned.) And his condo is, of course, still listed on his federal indictment.

A previous version of this post misspelled Palm Beach Gardens as Palm Beach Garden.

TPG featured card

Rewards rate
5X milesEarn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
2X milesEarn unlimited 2X miles on every purchase, every day
Intro offer
Open Intro bonus
Enjoy a $250 travel credit & earn 75K bonus miles
Annual fee
$95
Regular APR
19.49% - 28.49% (Variable)
Recommended credit
Open Credit score description
670-850Excellent, Good

Pros

  • Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
  • You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
  • Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners

Cons

  • Highest bonus-earning categories only on travel booked via Capital One Travel
  • LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
  • Earn unlimited 2X miles on every purchase, every day
  • Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to a $120 credit for Global Entry or TSA PreCheck®
  • Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
  • Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
  • Transfer your miles to your choice of 15+ travel loyalty programs
  • Top rated mobile app