Check out the 4 homes Paul Manafort must forfeit
The plea agreement between Paul Manafort and special counsel Robert Mueller requires him to hand over four properties acquired or furnished with ill-gotten money, including a lavish estate in the tony Hamptons, on Long Island, New York.
The four homes are worth about $16 million, combined, according to estimates from real-estate firm Zillow. Manafort will also hand over $30 million or so in cash and other assets, including a life-insurance policy. In exchange, Manafort will serve a prison sentence not to exceed 10 years. And he’ll cooperate in the ongoing investigation into Russian interference with the 2016 U.S. elections.
If you’re on the market for a fancy house once owned by a now-notorious criminal, here are the four Manafort properties you may soon be able to buy from the government:
174 Jobs Lane, Water Mill, N.Y. (above). 5,574 square feet / 10 bedrooms / 6 bathrooms. Estimated value: $7 million. This is Manafort’s Bridgehampton estate, complete with a pool, tennis court, basketball court and putting green (with sand trap). There’s scenic farmland to the north, and the Bridgehampton Tennis & Surf Club is less than a mile away. Prosecutors documented more than $6 million in payments Manafort made for home improvements to the property, though it’s not clear whether all of that money went into the house or was laundered in some way.
377 Union Street, Brooklyn, N.Y. (middle unit, above). 4,284 square feet / 7 bedrooms / 4 bathrooms. Estimated valued: $4.1 million. This brownstone is in the trendy Carroll Gardens section of Brooklyn. Brokers working for Manafort planned to list the property last year, at an asking price as high as $9 million. No more.
29 Howard St., Unit 4, New York, N.Y. 2,150 square feet / 2 bedrooms / 2 bathrooms. Estimated value: $2.9 million. Manafort didn’t spend much time in this condo in Manhattan’s ritzy SoHo district. Instead, he rented it on Airbnb, for upwards of $500 per night.
1046 N. Edgewood Street, Arlington, Va. 2,828 square feet / 4 bedrooms / 2.5 bathrooms. Estimated value: $1.7 million. Compared with Manafort’s other snazzy properties, this is a dull suburban pad. But it’s a short drive or Metro ride into the District of Colombia, and there are a dozen decent restaurants within walking distance. Plus, a wrought iron fence keeps gawkers off your lawn.
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Rick Newman is the author of four books, including “Rebounders: How Winners Pivot from Setback to Success.” Follow him on Twitter: @rickjnewman