The Trump Organization has sold a Beverly Hills, Calif., home, one of its two remaining properties in Los Angeles County, for $13.5 million in an off-market sale, property records show.
The 5,400-square-foot home, which the organization bought in 2007 for $7 million, sits at 809 N. Canon Dr., near Sunset Blvd. L.A. County records list the buyer as an entity named Hillcrest Asia Limited.
The company had also purchased a neighboring Greek Revival-inspired mansion in 2008 for $10.35 million, the Los Angeles Times reported. It then sold that property a year later at an $850,000 loss, the report said.
Eric Trump, who along with his brother Donald Trump Jr. run the family’s organization while their father is in office, released a statement explaining that the family decided to sell the Beverly Hills property because of their “hectic schedules.”
“[O]ur family has not had the chance to enjoy the property in recent years and it has seen minimal use,” Eric Trump said. “As such, it simply made sense to sell.”
“[O]ur family has not had the chance to enjoy the property in recent years and it has seen minimal use. As such, it simply made sense to sell.”
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The property has reportedly been a nuisance for the organization. Beverly Hills has reportedly issued multiple fines on the home since Trump took office. Records show the Trump Organization paid more than $1,100 in fines throughout 2017 over some hedges that supposedly violated city code.
Though Trump has not occupied the home much, the neighborhood was the only voting bloc in the area to vote for him the 2016 presidential election, according to the Real Deal. Election data cited by the website showed Trump won the area with 54 percent of the vote to Hillary Clinton’s 42 percent.
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The sale effectively leaves the Trump Organization with one remaining property in Los Angeles County: the 250-acre Trump National Golf Club Los Angeles in Rancho Palos Verdes.