Former Trump campaign manager Paul Manafort has agreed to hand over five New York properties as part of a plea deal from special counsel Robert Mueller
Paul Manafort will be forced to hand over five properties bought using dirty money as part of his plea agreement with special counsel Robert Mueller.
The disgraced former campaign manager for Donald Trump pleaded guilty to two counts of conspiracy against the US on Friday, agreeing to the forfeiture as part of his plea deal.
The homes – which include a ritzy estate in the Hamptons, a Brooklyn brownstone, and three Manhattan apartments – are worth a combined $22million, according to Zillow estimates.
An initial agreement would have required that Manafort forfeit his home in Arlington, Virginia, but the 69-year-old traded that property for one of the Manhattan apartments.
He also negotiated to hold onto one of four bank accounts the government planned to seize by giving up his apartment at Trump Tower.
In addition to the real estate, Manafort agreed to hand over $30million in cash and other assets, including a life-insurance policy.
In exchange, the lobbyist be sentenced to up to 10 years in prison and will cooperate with Mueller’s ongoing Russia probe.
Below is an inside look at the properties that the government will soon be putting on the market:
The Bridgehampton estate
Manafort’s most painful goodbye will likely be to his sprawling estate on Long Island at 174 Jobs Lane, Water Mill, New York.
The 5,574-square-foot home with 10 bedrooms and six baths is worth an estimated $7million.
Amenities include tennis and basketball courts, a putting green and a pool.
Prosecutors say Manafort spend more than $6million to improve the property – although it is unclear whether that money was actually used on the house or if it was laundered.
The priciest property Manafort will be forfeiting is a $7million estate on Long Island (above)
The Brooklyn brownstone
Manafort’s second-priciest property is a 4,284-square-foot historic brownstone valued at $4.1million.
The seven-bed, four-bath home is located at 377 Union Street in the trendy Brooklyn neighborhood of Carroll Gardens.
Manafort’s brokers had reportedly hoped to sell off the property for a whopping $9million before he made the deal with Mueller.
Manafort has also agreed to hand over his brownstone in Brooklyn valued at $4.1million
The Trump Tower apartment
When negotiating his plea deal, Manafort reportedly traded his apartment at Trump Tower in exchange for one of the bank accounts prosecutors were planning to seize.
The 43rd floor condo in the president’s landmark building on Fifth Avenue was purchased in 2006 for $3.7million.
In April 2017 Manafort was accused of having received an illegal tax break by claiming both the apartment and another home in Florida as his primary residence.
It’s unclear what the asking price will be set at when the home goes back on the market.
Manafort reportedly traded his 43rd-story apartment at Trump Tower in Manhattan in exchange for one of four bank accounts prosecutors were planning to seize
The SoHo flat
Manafort will likely have an easier time parting with his Manhattan apartment at 29 Howard St, which he reportedly rented out as an Airbnb for more than $500 per night.
The 2,150-square-foot pad in the coveted neighborhood south of Houston street has two bedrooms and two baths.
It is valued at $2.9million.
The disgraced lobbyist likely won’t be as distraught to part with his flat in the trendy neighborhood of SoHo, which he reportedly rented out on Airbnb for $500 per night
The Chinatown pad
Another Manhattan apartment Manafort has agreed to hand over is located in Chinatown at 123 Baxter Street.
Manafort’s daughter Andrea reportedly bought the pad in 2007 for $2,545,625.
One of her father’s shell companies, Jesand LLC, is listed as a co-owner. That LLC took out a $1million loan against the property last year.
Manafort then offered the apartment as collateral when he reached a plea deal related to money-laundering charges in November.
Manafort will forfeit his apartment in Chinatown (above), which he co-owns daughter Andrea, who bought it in 2007 for more than $2.5million
The Virginia home Manafort managed to hold onto
Under a preliminary plea deal Manafort would have been required to forfeit his home in Arlington, Virginia, however the former campaign chair negotiated to hold onto the property by giving up his SoHo flat instead.
The 2,828-square-foot home at 1046 N Edgewood Street is valued at $1.7million.
It has two bedrooms, 2.5 baths and is located only a few miles outside of Washington, DC, where Manafort’s trial was held.
Manafort held onto his home in Arlington, Virginia, (above) by offering up his SoHo flat instead
CHARGES BEHIND THE NEW MANAFORT – MUELLER DEAL
Paul Manafort pleaded guilty to two counts of conspiracy against the United States on Friday, telling the DC federal court he will cooperate with Robert Mueller’s investigation and agreeing to meet with the special counsel team without an attorney.
The stunning development that Manafort will assist prosecutors who went after him on a raft of money laundering and tax charges follows a series of earlier indications that Manafort would not cooperate with special counsel Robert Mueller.
His cooperation, depending on the extent of it, could provide prosecutors with a valuable tool as they forge ahead with the Russia probe.
The charges included allegations that Manafort lied to the Department of Justice about his work for a foreign government and that he obstructed justice by attempting to influence potential witnesses in the case.
When Judge Amy Berman Jackson asked Manafort if this was a ‘true and accurate statement of what you did in this case,’ Manafort replied, ‘It is.’
The former Trump campaign chairman pleaded guilty to two counts of conspiracy against the United States, charges that carry a maximum of five years in prison each. The judge noted that these sentences could not be served concurrently.
He will also face up to three years of supervised release on each count and a maximum $250,000 fine on each count.
Judge Jackson said she will wait to sentence Manafort until she receives a report on the sentencing guidelines from the Probation office. She will also allow on both sides to file objections if they wish to do so.
She also told Manafort that the law will require her sentencing guidelines to be more severe because his actions involved money laundering, obstruction of justice, and off-shore accounts and other ‘sophisticated means.’
She said the enhanced guidelines would mean Manafort should face between 210 and 262 months in prison – an amount of time that would have to be capped due to the 10 year maximum sentence.
Judge Jackson also noted that Manafort would not be eligible for parole because it has been abolished for federal cases.
Manafort’s defense team agreed that the statutory 10-year maximum ‘would be reasonable in this case.’ Prosecutors will still have a chance to file a motion asking for a lower sentence, and this could depend on the extent of Manafort’s cooperation with the special counsel’s office.
Judge Jackson gave attorneys on both sides 60 days to return to file a joint status report in the case.