More details have emerged about the recent off-market sale of a Beverly Hills, Calif., property by the Trump Organization.
The buyer was reportedly a foreign corporate entity linked to an Indonesian billionaire and Trump business partner. The price paid was $ 13.5 million -– nearly double the $ 7 million that the Trump Organization paid in 2007.
Just last year Los Angeles County had reappraised the home at $ 8.3 million, the Washington Post reported.
“Trump got a really good price,” a West Hollywood real estate executive said.
TRUMP ORGANIZATION SELLS BEVERLY HILLS PROPERTY FOR $ 13.5 MILLION
Hary Tanoesoedibjo, a media executive billionaire who ran for vice president in Indonesia in 2014, has partnered with Trump on two Indonesian projects, a resort in Bali and a golf course in West Java, according to the Post. Tanoesoedibjo also attended Trump’s inauguration in 2017 and posed for photos with Eric and Lara Trump.
“[G]iven my father’s presidency and our hectic schedules, our family has not had the chance to enjoy the property in recent years and it has seen minimal use. As such, it simply made sense to sell,” Eric Trump said in a statement. He is in charge of the family business along with Donald Trump Jr. while their father is in office. The 5,400-square-foot home sits on North Canon Drive, near Sunset Boulevard.
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The Constitution prohibits the president from receiving gifts or payments from foreign politicians and his failure to divest from his business could make the sale an issue, ethics experts said, according to the Post. The president is already fighting two lawsuits claiming he is in violation of the Emoluments Clause.