Resicom – Holiday Investment – 04-21 – LB

President Trump’s House for Sale

A Caribbean retreat owned by US President Donald Trump has come on to the market, possibly creating an opportunity for a wealthy investor to get closer to the new US president.

The property is known as Le Chateau des Palmiers and situated at the edge of the turquoise waters of Plum Bay on the western tip of French St. Martin.

Featuring a five-bedroom ocean villa and four-bedroom garden villa, according to the listing on Sotheby’s International Realty, the property was valued at between $25 million and $50 million on the personal financial disclosure of the new president.

The personal financial disclosure last May also reported the property to generate between $100,000 and $1 million in rental income.

When he became president, Donald Trump put his properties and other business entities in a trust overseen by one of his adult sons and a senior Trump Organization executive, in an effort to distance himself from his business interests and property empire.

He also stated that he would not seek information about the business, but he is able to take back control whenever he wishes.

The Caribbean estate is the first major asset owned by the trust to be put up for sale since Trump was installed in the White House.

The potential sale has added to the controversy surrounding the new president’s property and business assets.

Since taking office, Donald Trump has spent 14 out of 16 weekends at resorts owned by his trust, leading to accusations of him advertising his business interests in his role as president.

There is only one other time known in history where a current president has tried to sell a property, that was a Fifth Avenue apartment owned by Richard Nixon which was sold soon after he came into office.

Those overseas property investors with very deep pockets and a desire to connect with the first family in America take note.

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