Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Here’s the Soho condo Manafort allegedly used to launder money

10/31/2017

Download PDF

Lots of news coming out of Washington today in Justice Department special counsel Robert Mueller’s investigation into foreign meddling in the 2016 election: former Trump campaign manager Paul Manafort and his protege Richard Gates have both been indicted on money laundering and conspiracy charges and arrested. Another former Trump adviser also was revealed to have plead guilty to lying to the FBI.

One interesting real estate tidbit among many revealed in the 31-page indictment against Manafort and Gates: Manafort, through a shell company called “MC Soho Holdings, LLC,” is said to have purchased a condo in 2012 with the address 29 Howard St., #4D, New York, NY 10013, located in Manhattan’s upscale Soho neighborhood for “approximately $2,850,000.” The Feds now want to seize it, along with three other properties in New York and Virginia.

Why? The money for this property allegedly came from Cyprus and the indictment states Manafort later applied for a mortgage on the property, “falsely represent[ing]” to the bank that his adult daughter and son-in-law were living there. Oh yeah, and Manafort was also said to be renting out the property on Airbnb for “thousands of dollars a week,” and taking tax breaks for owning a rental property.

Sotheby’s had a nice spread of the 2,150-sq-ft. place until today (they took it down shortly after this article went live), listing it as sold for $2.85 million and advertising its “remarkable open sky and city views looking north up coveted Crosby St. in one of Downtown’s hottest locations.”

But the listed brokerage manager Diane Levine told Inman in a phone call the photos on the listing, which you can see below, were likely very old, and that she did not sell the place to Manafort.

29 Howard St. Unit 4. Credit: Sotheby’s.

Sotheby's 29 Howard listing

Image from Sotheby’s removed listing of 29 Howard St., Apt. 4. Image: Sotheby’s

Sotheby's listing for 29 Howard St. Unit 4 bathroom

Picture of bathroom from since-removed Sotheby’s listing for 29 Howard St., Unit 4. Credit: Sotheby’s

Real estate company Douglas Elliman listed the property for rent at $14,995 per month, noting it was a “very special home has a flexible floor plan allowing for numerous configurations.”

10 reasons most real estate agents fail Imagine if a deadly disease hit earth causing a mortality rate even remotely near the failure rate of real estate agents — people would live in complete, utter panic. The failure rate in real estate is high — extremely high. Many people who were in your real estate class are unlikely to be in the business five years from now … READ MORE

Tech and culture website The Verge spotted a link to a Corcoran rental listing that describes the unit as a “stunning one of a kind full-floor 2 bedroom, 2 bath.”

29 Howard St. rental listing photo

29 Howard St. 4th floor rental listing photo. Credit: Corcoran

29 Howard St. rental listing photo

29 Howard St. 4th floor rental listing photo. Credit: Corcoran

29 Howard St. rental listing photo

29 Howard St., 4th floor rental listing photo. Credit: Corcoran

Other features include a “formal living room with a wood-burning fireplace,” a “gallery-like hallway,” an “enormous walk-in closet” in the master bedroom and a “luxurious marble bath with steam shower and deep soaking tub” in the adjoining master bathroom.

We’ve reached out to the Corcoran listing agent and will update when we hear back.

Did you happen to stay in this property when it was an Airbnb? If so, please get in touch with me via email here.

Email Carl Franzen.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

  • Buy and build with Welcome Homes’ online new construction platform

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Managing buyer expectations in a seller’s market

    I began my real estate career in 2000. And if you had told me then about the luxury market we have t...

February 2023
Mon Tue Wed Thu Fri Sat Sun
 12345
6789101112
13141516171819
20212223242526
2728  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...