Published On: Sun, Aug 6th, 2017

Why Is Trump’s Caribbean Property Offered for Sale at 40% Discount

Three months ago, Trump's Caribbean property was offered for sale for $28 million; Why was the price cut? See photos

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

 

US President Donald Trump‘s luxury mansion in St. Martin is offered at $11 million lower than the original asking price of $28 million. The company controlling the property has reduced the asking price for Le Château des Palmiers, in the Caribbean, and is now asking for $ 16.9 million, a reduction of close to 40% of the original price.

 

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

The prestigious estate, which covers an area of ​​nearly 20 acres, was put up for sale three months ago, when they asked for $ 28 million, making it the most expensive asset offered for sale on the tropical island.

The lowering of the price indicates that the connection to the president is insufficient to justify the additional price, and the current price is closer to the prices of the nearby houses.

Now the estate is the second most expensive asset to be offered for sale on the island, after an oceanfront house in the same neighborhood, whose asking price is $ 17.5 million.

 

 

Trump bought the estate in 2013. The price he paid was not disclosed, but the owners asked for $19.7 million. The president owns the property through limited liability company, one of dozens of entities set up to manage its holdings in the US and abroad. Since entering the White House, Trump has transferred these business entities to a fund run by his son, Donald Jr., in an effort to avoid conflicts of interest.

According to the fund, the value of the property in St. Martin is between $25-50 million, according to Trump’s last statement in June to the government’s ethics office.

 

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

 

The property served Trump mainly as a rental house, bringing him between $100,000 and $1 million a year. Vacation packages for the presidential estate start at $ 6,000 per night for the smaller one of the two existing villas, and can cost more than $20,000 during Christmas. The staff includes a private chef, a golf course, a private beach access and a 20-person room.

 

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

 

These two villas include 11 bedrooms together. The larger building has a master suite spread over two floors and also features a jacuzzi and two private balconies. The smaller villa has bedrooms decorated with different themes, including a “jungle room” with a king-size double bed. The area also has two smaller houses with two bedrooms each and summer cottages.

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

Trump's Caribbean property is offered for sale at a discount of 40% / Photo Sothebysrealty

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