After FBI Indictment, Manafort's Brownstone May Hit the Market

Paul Manafort, President Donald Trump’s former campaign manager, may have to forfeit both of his New York City properties, including a brownstone in Carroll Gardens, Brooklyn, if he’s convicted of the charges filed on Monday.

Manafort was charged with a number of serious crimes, including conspiracy against the United States, money laundering and acting as an unregistered agent of a foreign principal, according to the Brooklyn Eagle.

The indictment publicly released Monday alleges that Manafort used hidden wealth stashed in offshore accounts to purchase luxury properties in the U.S., to the tune of roughly $18 million. He took out mortgages on these properties, living off this liquid income without paying taxes on it. He also generated income through rentals or through Airbnb.

Manafort allegedly purchased both properties through limited liability corporations he and his family controlled with money previously kept in Cyprus. The complaint states he paid $2.85 million for the Manhattan condo and $3 million for the Brooklyn brownstone.

Several neighbors near Manafort’s Brooklyn brownstone told AMNY that the property had been a mess over the last year, and they were pleased to see construction work get underway about two months ago. Workers were seen going in and out of the four-story home Monday.

If convicted of the charges, Manafort will be required to forfeit the property, along with others, including one at 29 Howard St. in Manhattan, a property in Water Mill, New York, and a property in Arlington, Virginia.  Property can be seized by the federal government if it can be shown the property is the proceeds of several types of criminal activity, including money laundering.

Manafort may also have state officials to deal with.  According to Curbed NY, in New York State it’s illegal to rent an apartment on Airbnb for fewer than 30 days, if the owner is not also present in the space.

Interested in a newly renovated brownstone in Carroll Gardens or perhaps a place with a little less notoriety?  Contact us toda

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