Welcome to the Checks & Imbalances newsletter. Today we look at a former Park Avenue condo of Donald Trump’s that is back on the market, Trump’s continued self-dealing and how lobbyists are trying to influence crypto regulation.
A business executive who paid Donald Trump $14 million for a Park Avenue condo during the 2016 presidential campaign is now trying to sell the unit for a $2.5 million loss.
In January 2016, Trump Park Avenue LLC sold a unit on the building’s 27th floor for $14.05 million, according to a filing with the New York City register’s office. Trump’s financial disclosure for that year reveals that, via two other companies, he owned 99.9% of Trump Park Avenue LLC.
The buyers were Robert and Meryl Tillis. Campaign-finance records show that a Robert Tillis with the same Park Avenue address as the condo building is the CEO of Imperial Dade, a distributor of packaging and janitorial supplies.
Robert Tillis wasn’t a Trump donor at the time of the sale. Six months after buying the apartment, however, he donated $2,000 to support Trump’s campaign, according to filings with the Federal Election Commission.
In June 2021, the Tillises put their condo on the market, asking for $15 million, 6.6% more than what they paid for it. A year and three price cuts later, the condo remains for sale, now with an asking price of $11.5 million—$2.5 million less than what they paid Trump for it.
Robert Tillis did not immediately respond to a request for comment.
Pedestrians pass the Trump Park Avenue building in May 2016. (AP Photo/Frank Franklin II)
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Former Overstock CEO Patrick Byrne returns from a break in his interview with the House select committee investigating the January 6 Capitol riot in July 2022. (Photo by Chip Somodevilla/Getty Images)
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Donald Trump and wife Ivana Trump with actors Don Johnson and Melanie Griffith attend a Police Athletic League event for Commisioner Benjamin Ward’s Kids in 1989 in New York. (Photo by Al Pereira/Michael Ochs Archives/Getty Images)
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– Ella Fitzgerald, “Slumming on Park Avenue”