<img class=”size-large wp-image-3481746″ src=”https://therealdeal.com/wp-content/uploads/2019/01/1200-trump-real-estate-650×405.jpg” alt=”” width=”650″ height=”405″ /> Donald Trump and Starrett City (Credit: Getty Images)
The Trump Organization sold close to $35 million in real estate last year, thanks in large part to the sale of Starrett City, a federally subsidized housing complex in Brooklyn.
A Forbes report detailing President Trump’s real estate holdings found that he still owns an estimated $437 million worth of residential property. After becoming president, Trump stepped back from operating the Trump Organization but retained ownership of the company.
The majority of the proceeds, or $20 million, was generated from the sale of <a href=”https://therealdeal.com/2018/05/08/starrett-city-deal-closes-for-905m/” target=”_blank” rel=”noopener”>Starrett City</a> to Brooksville Company and Rockpoint Group for $905 million, of which Trump owned a 4 percent stake in the property, according to financial disclosures he made prior to the election.
The president also benefitted from the $11 million sale of 36 units at his Las Vegas Trump Tower, which he owns in a 50-50 partnership with casino mogul Phil Ruffin, according to Forbes.
Other sales reportedly included a warehouse in South Carolina for $4.1 million, three parking spaces at his Chicago Trump International Hotel and Tower for $170,000 and three vacant lots adjacent to a Trump golf course near Los Angeles for $5.6 million. [<a href=”https://www.forbes.com/sites/danalexander/2019/01/11/trump-sold-35m-of-real-estate-in-2018/#573e4b9a45b5″ target=”_blank” rel=”noopener”>Forbes</a>] — <em>David Jeans </em>
Source: The Real Deal Los Angeles