Government moves to seize Manafort's condo in Trump Tower

Government moves to seize Manafort's condo in Trump Tower
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The federal government moved on Friday to formally take possession of former Trump campaign chairman Paul ManafortPaul John ManafortNew York activists go on hunger strike to advocate for ending solitary confinement New York activists go on hunger strike to advocate for ending solitary confinement House panel subpoenas Flynn, Gates MORE’s apartment in Trump Tower, according to court documents obtained by USA Today.

Manafort pleaded guilty in September to one count of conspiracy against the United States and one count of conspiracy to obstruct justice by witness tampering as part of special counsel Robert MuellerRobert (Bob) Swan MuellerKamala Harris says her Justice Dept would have 'no choice' but to prosecute Trump for obstruction Kamala Harris says her Justice Dept would have 'no choice' but to prosecute Trump for obstruction Dem committees win new powers to investigate Trump MORE’s Russia investigation.

As part of his plea agreement with federal prosecutors, Manafort forfeited $22 million in New York real estate — including three Manhattan apartments, a Brooklyn townhouse and a home n the Hamptons, The New York Times reported at the time.

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He also agreed to turn over three bank accounts and a life insurance policy. 

Manafort’s 1,509 square foot condo at Trump’s iconic building on Fifth Avenue is estimated at $2.5 million, according to online real estate website Zillow.

Occupancy rates at the president’s luxury property have plunged over the last several years, according to a Bloomberg report from earlier this month.

Trump’s namesake tower, built in 1983, has reportedly seen occupancy drop over from 99 percent to 83 percent since 2012.

Property records obtained by Bloomberg showed at least 13 condos sold in the tower since Trump’s 2016 election, including eight transactions that resulted in inflation-adjusted losses for sellers.

In comparison, just 57 homes out of 24,871 third-party sales in Manhattan sold over the past two years at a loss, according to PropertyShark data obtained by Bloomberg.