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

Oct. 31, 2017
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3 min read
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For Only $14,200, You Can Stay in Paul Manafort's Manhattan Condo
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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.)

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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.

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  • Packed with credits foodies will enjoy
  • Solid welcome bonus

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  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
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  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
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