Thursday, April 27, 2017

The Jared and Ivanka Rent Bill: $15,000 per Month in Curious Deal

According to documents obtained by the Wall Street Journal, Jared and Ivanka are paying $15,000 in rent for their Washington D.C. house, a property that was never advertised for rent.

Real estate agents told WSJ that $15,000 a month is a in line with other similar properties in the neighborhood, though one expert noted that the rent represents a “terrible investment” for billionaire landlord AndrĂ³nico Luksic, who bought the house after the November election for $5.5 million.

“That’s a terrible investment” for the owner, said Joshua Adler, who owns multiple rental properties in Washington, he said they are “getting use of a $5.5 million home for far less than it normally costs to have a home of that value.”

It is not clear how Jared and Ivanka became aware of the rental.

Luksica is a Chilean magnate whose company is embroiled in a dispute with the U.S. government over a mine potentially worth billions of dollars.

As reported in The Wall Street Journal in March, a mining firm controlled by  Luksic’s family is involved in a legal dispute with the federal government over a proposed copper and nickel mine near a Minnesota wilderness area.

The Obama administration blocked the proposed mining project in its waning days, citing environmental concerns, but the company and some Minnesota politicians have asked the Trump administration to reverse the decision.

Both the White House and  Luksic’s representatives have said there is no relationship between the house rental and the mining dispute, and have said the rental was arranged through brokers without the two parties ever meeting.

But curiously, the filings with the housing department show the tenant on the Kalorama property is Tracy Place Home LLC, which links back to the general counsel of  Kushner’s family company in New York.

The LLC was formed on Dec. 19, three days before a company controlled by Luksic even closed on the house, which is on Tracy Place, reports the Journal.


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