President Trump’s company has quietly sold one of his last remaining properties in California — a 5,400-square-foot Beverly Hills mansion that county records show was purchased by a corporate entity linked to an Indonesian billionaire and Trump business partner.
A deed registered with L.A. County on May 31 shows that Trump’s eldest son, Donald Trump Jr., signed the property over to Hillcrest Asia Ltd., a company registered in the British Virgin Islands.
The price tag: $13.5 million, nearly double what Trump paid for the house when he bought it in 2007.
Trump bought the property, at 809 N. Canon Dr., for $7 million in 2007, according to L.A. County land records.
The purchaser address listed on the deed is a Beverly Hills condominium owned by a firm belonging to Hary Tanoesoedibjo, a billionaire media executive who ran for vice president of Indonesia in 2014.
He is Trump’s business partner on two projects in Indonesia — a resort on the island of Bali and a golf course and resort in the forests of West Java, south of the capital city of Jakarta.
Tanoesoedibjo, 54, a married father of five, who was listed as the 31st wealthiest person in Indonesia in 2018, according to Forbes, which estimates his current net worth at $1.1 billion.
Trump’s former Beverly Hills home is located across the street from the famed Beverly Hills Hotel where the president was rumored to have engaged in affairs with former Playboy Playmate Karen McDougal and adult actress Stormy Daniels.
Former ‘Apprentice’ contestant Summer Zervos, accused Trump of assaulted her at the Beverly Hills Hotel, but Trump has denied all three women’s claims.
Trump’s business dealings are drawing intense scrutiny from Democratic lawmakers and government ethics experts who say there is no effective check on people who would seek influence with the White House by spending money on Trump’s real estate.
Trump has sold other properties since entering office, including a warehouse in South Carolina, land in the Dominican Republic and condos in his Las Vegas hotel, according to his government disclosure forms and public records.
The U.S. Constitution bars the president from receiving gifts or payments from foreign leaders.
Trump “got a really good price,” said Luis Pezzini, the chief executive of Pezzini Luxury Homes in West Hollywood.
“Seems a little rich, to be perfectly frank,” Pezzini said. “Unless there’s something spectacular about this house that I’m missing.”
Pezzini said he had a listing nearby with a larger home and lot size — as well as a tennis court — and expected to get slightly less than the $13.5 million Trump received.
Trump is fighting two federal lawsuits that claim he is running afoul of that prohibition by accepting business from foreign dignitaries at his hotels.
The $13.5 million sale price of the Beverly Hills mansion is likely to exacerbate ethics concerns.
The property was sold off-market — meaning it was not listed for sale publicly — and Beverly Hills real estate experts said they were surprised at the high price.