Real estate agents taking a close look at Trump Organization's sale of Beverly Hills mansion to Indonesian business partner
Luxury real estate agents in Beverly Hills are side-eyeing the recent sale of President Trump's 5,400-square-foot mansion for $13.5 million.
Trump bought the house on Canon Drive for $7 million in 2007, Los Angeles County land records show, and in 2018, the county assessed the property at $8.3 million. It was never listed for sale publicly, The Washington Post reports, and the price "seems a little rich, to be perfectly frank," Luis Pezzini, CEO of Pezzini Luxury Homes, told the Post. "Unless there's something spectacular about this [house] that I'm missing." Pezzini said he's selling a house close to Trump's, but it's bigger, on a larger lot, and has a tennis court, and he expects to get just under $13.5 million.
So, who bought the property? The Post reports that a deed registered with L.A. County on May 31 shows it was signed over to Hillcrest Asia Ltd. by Trump's son, Donald Trump Jr. The purchaser's address is a condo in Beverly Hills owned by a company belonging to billionaire Indonesian media mogul Hary Tanoesoedibjo. Tanoesoedibjo has teamed up with Trump on two projects in Indonesia: a resort on Bali and a golf course and resort south of Jakarta. In 2014, Tanoesoedibjo ran for vice president in Indonesia, and he has said Trump inspired him to take a shot at the presidency sometime in the future.
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Trump has sold some properties since becoming president, including land in the Dominican Republic, condos at his hotel in Las Vegas, and a warehouse in South Carolina, the Post reports. Trump's son Eric told The Real Deal Los Angeles they chose to part with the Beverly Hills property because his family's "hectic schedules" keep them from the house and "it has seen minimal use."
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Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
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