- President Donald Trump has outstanding debt on many of his real estate properties, a New York Times investigation found.
- Trump owns more than $US122 million in personal real estate in the US and the West Indies, according to Forbes estimates.
- From a NYC penthouse to a St. Martin beachfront estate, Trump has 8 properties in his real-estate portfolio.
- Visit Business Insider’s homepage for more stories.
President Donald Trump’s finances have come under renewed scrutiny after The New York Times published an investigation on Sunday.
It found that the real estate mogul has outstanding debt on many of his properties â€” $US1.1 billion to be exact.
Not only does his company own more than $US2 billion in real estate across New York City, Washington, DC, Chicago, San Francisco, and other major US cities, he also has more than $US122 million in personal real estate along the Atlantic, according to Forbes estimates.
In June 2019, Trump sold his personal property out west, a 5,395-square-foot Tudor-style mansion in Beverly Hills, for $US13.5 million, reported Jack Flemming for The Los Angeles Times.
That leaves Trump’s real-estate portfolio of eight properties now spanning three states and one Caribbean Island. And while impressive, it’s just a fraction of his overall net worth â€” an estimated $US2.1 billion.
But he owes $US100 million against Trump Tower, where he lived before moving into the White Hoouse, and has small loans against a couple mansions, per the investigation.
A representative for the Trump Organisation didn’t immediately respond to a request for comment from Business Insider.
Here’s a look through Trump’s private real-estate portfolio. All property values were estimated by Forbes as of February 2019, since which time the property and debt values are likely unchanged. The Times reported that, while it is unclear whether Trump has repaid any outstanding loans to date, the businesses carrying the bulk of his debt are struggling and he is facing the result of a long-running audit over a $US72.9 million tax refund.
New York: Before moving to the White House, Trump’s main residence was the $US54 million penthouse in Trump Tower.
Outstanding debt: $US100 million
It’s located on New York City’s Fifth Avenue and overlooks Central Park.
The penthouse is known for its opulent, lavish style. According to Travel + Leisure’s Talia Avakian, the property boasts 24-karat gold and marble details. It’s also three stories, and son Barron reportedly has his very own floor, reported The Hollywood Reporter.
It was designed by the late Angelo Donghia, who also designed properties for Diana Ross and Ralph Lauren.
When Trump wants to get away from city life, he has his 39,000-square-foot mansion in Bedford, New York. The home is called Seven Springs.
The mansion is located about 45 miles north of New York City. It sits on 213 acres and reportedly boasts an indoor pool encased in marble, 60 rooms, 12 baths, two servant wings, and a bowling alley, according to The New York Times and New York Daily News.
Trump wanted to turn the property into a golf course, but ended up putting a lot of the land under a conservation easement after he reportedly couldn’t acquire zoning permits, reported Forbes.
Worth $US24 million today, the property is considered Trump’s suburban base.
The mansion’s current value is more than triple what Trump reportedly paid for it in 1995 – $US7.5 million, according to Forbes. It was built for $US2 million in 1919 for Eugene Meyer, a millionaire who bought The Washington Post in 1933.
(The property is actually valued at $US30 million, but Forbes reported that Trump has an estimated $US6 million debt on the property.)
Virginia: Trump owns two houses in Sterling, Virginia, near the Trump National Golf Club in Washington DC, worth a collective $US1.5 million.
They come in handy – Trump was spotted as recently as early September 2019 golfing at the club after cancelling a proposed meeting with Taliban leaders at Camp David, reported the AP.
The club is one of 10 golf courses The Trump Organisation owns in the US, not counting golf resort Trump National Doral Miami,according to Forbes.
He reportedly lends the houses to club members and guests, Forbes said.
Not much is known about these houses. But instead of providing a percentage change in value from 2018, Forbes instead said they’re “newly included assets.”
Florida: Trump also owns homes in Palm Beach, Florida, worth a collective $US25 million.
They’re technically valued at $US36 million, meaning Trump has an estimated $US11 million worth of debt on them, according to Forbes.
They’re near the Trump Organisation-owned Mar-a-Lago, a private and exclusive Palm Beach resort.
The 20-acre estate of Mar-a-Lago is often called “the Winter White House,” Business Insider previously reported. It has 128 rooms and spans the entire width of the island Palm Beach is located on, stretching from the Atlantic Ocean to the Intercoastal Waterway.
After being elected president, Trump reportedly raised Mar-a-Lago initiation fees from $US100,000 to $US200,000.
St. Martin: The US isn’t the only country where Trump personally owns real estate — he also has a beachfront estate getaway, known as Le Château des Palmiers, in the West Indies.
Trump reportedly bought the property at an undisclosed price in 2013 from a businessman friend, according to Forbes. It boasts nine bedrooms, 12 full bathrooms, a heated pool, a fitness centre, a tennis court, and an outdoor bar,Town & Country reported.
It also has two villas, pool cabanas, and an estate manager’s house.
Trump primarily uses the estate, which is worth $US13 million, as a rental property.
After Trump’s election, interest in the vacation rental increased but potential buyers became turned off by any potential public scrutiny from a sale.