The townhouse at 377 Union Street in Carroll Gardens could, in theory, fetch up to $9 million if it were renovated and brought to market; Corcoran, one of NYC’s biggest brokerages, has allegedly been tapped to market the property if that happens.
But there’s one problem: the property is owned by former Trump campaign manager Paul Manafort, who has been indicted for multiple charges, including money laundering, and the Brooklyn brownstone is named in the indictment.
Back in 2012, Manafort purchased the home for approximately $3 million in an all-cash transaction, using funds from a shell corporation based in Cyprus. According to the indictment issued by special counsel Robert Mueller, Manafort then took out a $5 million construction loan to convert the home multi-family residence into a single-family home, but used the funds to pay off debts owed on other properties.
According to The Real Deal, two brokers from Corcoran, who were rumored to be preparing to list the home, began looking for comps, or recently sold homes in the neighborhood that are similar to the 377 Union Street, to determine an appropriate asking price. (A Corcoran rep did not respond to a Curbed request for comment.)
While the value of the home could range anywhere between $8 and $9 million, prosectors could move forward with procedures to make sure a sale is deterred by filing a lis pendens on the home. If Manafort is convicted, the townhouse would be subject to forfeiture to the federal government.
In other 377 Union Street news, someone hung a sign outside of the home today declaring it a New York City landmark (h/t Pardon Me For Asking); the reason behind the faux-designation is because its “the house that brought down a president,” according to the signage left behind by that prankster.