Paul Manafort’s NYC real estate seized by government as part of plea deal

As part of special counsel Robert Mueller’s ongoing investigation into Russian meddling in the 2016 presidential election, news broke today that President Donald Trump’s former campaign manager, Paul Manafort, has agreed to a plea deal.

On Friday, Manafort “pleaded guilty to one count of conspiracy against the US and one count of conspiracy to obstruct justice,” according to Vox; he has also agreed to cooperate with Mueller’s investigation by providing information and turning over relevant documents.

As part of the plea deal, Manafort agreed to surrender several properties that he owns throughout the U.S., including four in New York City, to the federal government. Those are:

• A brownstone at 377 Union Street in Carroll Gardens, which Manafort purchased for approximately $3 million in 2012;
• A condo at 29 Howard Street in Soho, which Manafort claimed was his daughter’s primary residence, but was actually being rented on Airbnb;
• An apartment at 123 Baxter Street in Chinatown that Manafort’s daughter, Andrea, purchased in 2007, although one of her father’s shell companies is listed as a co-owner;
• And a 43rd-floor condo at Trump Tower that Manafort purchased in 2006 for roughly $3.7 million.

The sum total of the forfeited assets, including his New York real estate, is around $46 million. The Brooklyn and Soho properties figured into Manafort’s trial in Alexandria, VA, in August, during which he was found guilty on eight counts, including bank fraud and falsifying tax returns.

What happens with these properties remains to be seen. Previously, the Real Deal reported that brokers from Corcoran were seeking comps for the Brooklyn townhouse in anticipation of a sale; a Corcoran rep did not respond to Curbed’s request for comment.