Manafort forfeits luxury homes under plea deal

Manafort agreed to surrender his 5,564-square-foot estate in the Hamptons community of Water Mill, a summer playground of the rich and famous on New York’s Long Island. (File Photo: Trump Towers in Turkey/Facebook)

WASHINGTON — Paul Manafort’s guilty plea will cost him more than time behind bars.

His estate in the Hamptons won’t be waiting when the former Trump campaign chairman gets out. His Brooklyn brownstone will be gone, too, and his condo in Trump Tower in Manhattan.

Manafort, a high-rolling political consultant brought low, also agreed to forfeit big bank accounts, life insurance and more as part of his plea deal on Friday with special counsel Robert Mueller.

The forfeiture agreement is final and cannot be revoked, court documents say.

Manafort was known for his opulent lifestyle. Prosecutors at his earlier trial in Virginia detailed elaborate expenses such as a $21,000 watch, a $15,000 jacket made of ostrich leather and more than $6 million worth of real estate paid for in cash.

Manafort’s lawyer, Kevin Downing, said his client had agreed to the deal before the Washington trial was to begin because he “wanted to make sure that his family was able to remain safe and live a good life.”

It’s not clear what is left for that “good life,” but presumably the family wasn’t stripped of all earthly goods.

A look at the property Manafort must forfeit:

THE HAMPTONS ESTATE

Manafort agreed to surrender his 5,564-square-foot estate in the Hamptons community of Water Mill, a summer playground of the rich and famous on New York’s Long Island. The property valued at more than $7 million features 10 bedrooms and six bathrooms, according to online listings. It also features an in-ground swimming pool and tennis and basketball courts.

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THE BROOKLYN BROWNSTONE

Manafort will have to give up a brownstone, valued at more than $4 million, which he owns in the Carroll Gardens section of Brooklyn, one of the most expensive neighbourhoods in the borough.

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MANHATTAN APARTMENTS

He will have to forfeit a fourth-floor apartment in a building in Manhattan’s SoHo neighbourhood, an apartment in Chinatown and a condominium he owns in Trump Tower. An earlier court filing had mentioned surrendering a home in Virginia, but the signed co-operation agreement swapped that address with the Trump Tower condominium.

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BANK ACCOUNTS AND LIFE INSURANCE POLICY:

Manafort will have to give up the money from three of his bank accounts — two at the Federal Savings Bank and one from Capital One — as well as a life insurance policy.