Trump Tower rental space leased to White House military office for $2.39 million, far above market value

The Wall Street Journal reports: The U.S. government is paying more than $130,000 a month to lease space in Trump Tower for the military office that supports the White House, even though Donald Trump hasn’t spent a night at the New York skyscraper since becoming president.

The government signed a $2.39 million lease to rent a 3,475 sq. ft. space in the building for the military from Apr. 11, 2017 to Sept. 30, 2018, nearly 18 months in total, according to lease documents that The Wall Street Journal obtained through a freedom of information request.

The government agreed to pay $180,000 for the last 20 days of April 2017 and $130,000 a month thereafter, according to the contract released by the General Services Administration, the agency that negotiates office space agreements for the government.

The GSA redacted large portions of the lease, including the name of the person who owns the Trump Tower space the government is renting. A Pentagon official wrote in a letter seen by the Journal that the space is owned privately by someone unaffiliated with the Trump Organization and that the department sees no way in which Mr. Trump can benefit from the rent money.

The military’s lease in Trump Tower puts the space far above market rate for similarly sized apartments in the luxury high rise market and makes it one of the most expensive residential rentals in Manhattan. [Continue reading…]

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