+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Paul Manafort's $3.66 million SoHo loft that was seized by the federal government is now officially on the market

Jun 7, 2019, 20:42 IST

A view of 29 Howard Street (at right), where Paul Manafort reportedly purchased a condo unit in 2012, in the SoHo neighborhood of Manhattan,Drew Angerer/Getty Images

Advertisement
  • The federal government has officially listed a $3.66 million Manhattan loft once owned by former Trump campaign chairman Paul Manafort on the market, The New York Post reported Friday.
  • The property, located on the fourth floor of 29 Howard Street in SoHo, is one of five properties in New York City and on Long Island previously belonging to Manafort that the federal government seized.
  • Manafort was sentenced to seven-and-a-half years in prison in March after being convicted of and pleading guilty to multiple federal tax fraud, bank fraud, and conspiracy charges between two separate cases.
  • In all, Manafort forfeited an estimated $22 million in real estate between the Howard Street loft, two other Manhattan apartments, a Brooklyn townhouse, and his Hamptons family vacation home.
  • Visit Business Insider's homepage for more stories.

The federal government has officially listed a $3.66 million Manhattan loft once owned by former Trump campaign chairman Paul Manafort on the market, The New York Post reported Friday.

The property, located on the fourth floor of 29 Howard Street in SoHo, is one of five properties in New York City and on Long Island previously belonging to Manafort that the federal government seized after Manafort was convicted on an array of federal tax and bank fraud charges in August 2018.

In all, Manafort forfeited an estimated $22 million in real estate between the Howard Street loft, another property in nearby Little Italy last estimated to be worth $3.8 million, a $3.77 million brownstone in Brooklyn's Carroll Gardens neighborhood, a $2.4 million apartment on the 43rd floor of Trump Tower, and his 5,574 square foot Hamptons family vacation home worth $8.9 million, according to estimates from Zillow.

Manafort was sentenced to seven-and-a-half years in prison in March after being convicted of and pleading guilty to multiple federal charges between two separate cases that unfolded as part of special counsel Robert Mueller's investigation into Russian interference in the 2016 election.

Advertisement

Manafort was found guilty on eight federal counts of bank and tax fraud by a jury in Virginia. He also pleaded guilty to one count of conspiracy to obstruct justice and one count of conspiracy against the US in a case run out of the US Attorney's office in Washington, DC.

Read more: Paul Manafort is set to be jailed at Rikers Island, where he could be placed in solitary confinement

In March, Manhattan District Attorney Cy Vance Jr. initiated a case that resulted in a grand jury indicting Manafort on 16 counts of fraud-related felony charges including mortgage fraud, falsifying business documents and conspiracy. He is expected to be jailed on New York's Rikers Island this week to await arraignment.

In August, a Virginia jury found Manafort guilty of bank fraud related to his misrepresentation of the Howard Street apartment.

After purchasing the Howard Street property in 2012, prosecutors said, Manafort defrauded financial institutions by claiming it as a second home in order to receive a favorable loan from Citizens Bank, despite the fact that none of his family members lived there and he was actively renting it out on Airbnb.

Advertisement

In addition to his federal conviction, Manafort now faces residential mortgage fraud charges in New York state also stemming from his alleged misrepresentation of the property's use, according to a charging document from the district attorney's office.

Read more:

These are the pricey New York properties Paul Manafort forfeited as part of his plea deal with the US government

Prosecutors went to extraordinary lengths to document Paul Manafort's life of luxury. Here are the custom suits, lavish cars, and sprawling properties they tried to show the jury.

Alexandria Ocasio-Cortez says Paul Manafort shouldn't be held in solitary confinement, calls the method 'torture'

Advertisement

NOW WATCH: Fox News pundits are using white supremacist language tied to 'The Great Replacement' conspiracy theory

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article