— next door to Mar-a-Lago’s Beach Club — for a recorded $18.25 million to an entity linked to the president and his two eldest sons. All of that left his sons, Eric Trump and Donald Trump Jr., with few options for expanding their father’s business. The planned welcome center will be located inside the main gate of the Breakers, on the site of a current ticketing tent (then-board chairman Donald O. Ross discusses it in the 2013 video below). And there’s been plenty of real estate activity in the security area since the president’s inauguration. To get across town, drivers must leave the island on one bridge into West Palm Beach and re-enter via another span. Since 2017, the Trump Organization has sold nearly a dozen cliffside lots—situated next to the Trump International Golf Club Los Angeles, overlooking the Pacific Ocean—for prices ranging from $1.5 million to $3.8 million. It’s powerful. By the time Donald Trump took office, nearly all of it had been sold away. And many longtime Palm Beachers, who have been Trump’s neighbors for years, simply take the president’s presence in stride. But has real estate in town become an even bigger deal over the past four years because of Trump’s presence? Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. The biggest remaining piece, a 4% interest in the massive housing complex, was sold by the property’s managers in 2018 for $905 million. The property was likely tied to Cap Cana, a resort area where Trump once inked a deal to license his brand to a community of luxury oceanfront properties until the partnership soured after the real estate market crashed; the Trumps sued their business partners, accusing them of “textbook fraud.”. Pam Beach real estate broker Christian Angle of Christian Angle Real Estate agrees. Don Jr. and a group of investors bought the place as part of a prefab concrete business they hoped would revolutionize low-cost home building. Only residents or those working in that area have been allowed to enter or exit freely. The answer isn’t clear cut, although real estate observers agree that the president’s presence elevated Palm Beach’s name recognition worldwide and attracted more sightseers, thanks to news coverage of his frequent visits during the fall and winter. They have private lives. Trump owns a 28,322-square-foot (2,631.2 m2) mansionon 200 acres (81 ha) in Bedfordand New Castle, New York. Less than a year later, however, the Trumps sold what appears to be the only piece of land they owned there. 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Whatever effect the president has had on Palm Beach real estate over the past four years, other factors continue to play major roles in spurring sales on the island. After Donald Trump won the 2016 election, business inside the Trump Organization slowed down. President Donald Trump’s election in 2016 instantly cemented his status ats Palm Beach’s most-famous snowbird. Those deals included a 2018 sale in which Trump’s sister, retired federal judge Maryann Trump Barry, sold her home at 1125 S. Ocean Blvd. But many are. That 2008 deal set a single seller/single buyer price record that stood for more than a decade in Palm Beach. Yes. Chen paid $15.9 million—a hefty sum considering that, only one year earlier, a virtually identical penthouse just one floor lower sold for nearly $2 million less than that. The Trump Organization sold three of the apartments in 2019, all in the $2 million range, and all to limited liability corporations that shield the identity of the buyer. 9. Luckily for Trump, he entered the Oval Office sitting on a lot of inventory—luxury apartments, undeveloped lots and other real estate he has acquired over the years. After all, the town is a place where more than 40 Forbes billionaires, including Trump, have homes and where grand estates routinely sell for more than $20 million. As one resident put it: “He may be a neighbor, but he’s not necessarily neighborly.”. “The elevation of our neighbor Donald Trump as president has highlighted the same qualities of Palm Beach that we all embrace — safety, beauty and security, which in troubled times we all especially cherish.”. But those who live in the secured area enjoy a benefit, as well. >>MORE CONTENT: Palm Beach house-hunters face tight market after sizzling summer of sales. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. The Breakers mansion was commissioned to be built by railroad tycoon Cornelius Vanderbilt II … The partners have sold more than five dozen studio, one-, two- and three-bedroom apartments since Trump took the oath of office, yielding the Trump Organization about $18 million in revenue for their half of the deals. Trump ended up owning a nondescript, rusting warehouse in a North Charleston industrial park after bailing his son Don Jr. out of a bad business venture in 2014. When Trump took office, he held 15 condos and about 7,000 square feet of retail and storage space in the 14-story building he has controlled since the 1980s. Palm Beach, of course, has for decades been viewed as a global destination for those with the wealth to enjoy it, whether they are visitors staying at The Breakers or heading to a vacation home from other parts of the country or abroad. Find out more about how we use your information in our Privacy Policy and Cookie Policy. "It’s a wonderful place to live.". Attorney and longtime resident Bill Bone, a former member of the Mar-a-Lago Club, echoed the mayor’s sentiments. A sitting president can have a home any place in the world. Many of the residents of Palm Beach likely don’t find the notoriety of having the president live here a positive thing,”’ Ramey said. Even before his election, Trump was a notorious homebody, seldom seen outside Mar-a-Lago, unless he was on his way to one of his two golf clubs in Palm Beach County. Just a month after the inauguration, the Trumps made an eyebrow-raising deal, selling the Park Avenue penthouse previously occupied by Jared Kushner and Ivanka Trump to a woman named Angela Chen, who runs a business peddling access to Chinese officials and allegedly has ties to Chinese military intelligence. You can change your choices at any time by visiting Your Privacy Controls. “When he was first elected, people wanted to be in his orbit, and they realized that they could do that by joining Mar-a-Lago or getting invited to Mar-a-Lago to rub elbows. In all, 22 transactions MLS-listed properties changed hands there during the past four years, a search showed. And soon media coverage of the new president at his winter White House … Here’s all of the real estate the Trump Organization has sold during Donald Trump’s term in the White House: Fred Trump amassed a huge portfolio of real estate, mainly in Brooklyn and Queens. And soon media coverage of the new president at his winter White House — the historic and lavish Mar-a-Lago mansion he turned into a private club in 1995 after owning it for 10 years — showed the world something Trump’s neighbors already knew: Real estate in Palm Beach is a very big deal.

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