As New York Attorney General Letitia James’ civil fraud lawsuit against Donald Trump and his adult children (minus Tiffany) works its way through the court system, each new day we’re learning a little bit more about the criminal family enterprise.
The latest tidbit of info to be revealed involves Ivanka Trump and the lavish Trump Park Avenue apartment she “purchased” in her early 20s.
Trump’s personal balance sheets were released in connection with James’ lawsuit earlier this year. The sheets included “receivables,” which are amounts owed to a business, regarded as assets.
Forbes pored over the sheets and noticed a $1.5 million receivable listed as “Ivanka (T Park Ave)”, which reporter Dan Alexander observed was the exact same price of an apartment Ivanka bragged about in her crappy 2009 book, The Trump Card: Playing to Win in Work and Life.
In the book, Ivanka wrote about owning a fabulous two-bedroom apartment in one of her father’s buildings on Park Avenue, but she insisted, “no one gave it to me.”
“I’m paying a mortgage on my apartment,” she claimed. “Admittedly, I pay my mortgage directly to my father instead of to a bank, but it’s a mortgage just the same, and I’ve never missed a payment.”
She added, “He wouldn’t just give me an apartment, and I wouldn’t accept one if he did. I wouldn’t want to be beholden to him in that way.”
Turns out, that was all a lie.
Her loan, however, does not appear to have been a “mortgage just the same,” as she put it. In 2021, 17 years after Ivanka purchased the apartment, her father’s financial documents still listed a receivable of $1.5 million described as “Ivanka (T Park Ave)”, suggesting that her mortgage came with an unusually long period in which she did not have to pay down any principal.
Forbes has previously covered other deceptions related to the apartment. In addition to claiming that no one gave her the apartment, Ivanka also boasted, “Nor did I benefit from an insider price.” But she received a big bargain. Other buyers in the building were paying about $1,670 per square foot on average, but Ivanka paid just $968 per square foot, adding up to a $1.1 million discount on her 1,549-square-foot apartment.
(Fun fact: In the book, Ivanka also wrote: “Perception is more important than reality. If someone perceives something to be true, it is more important than reality… Don’t go out of your way to correct a false assumption if it plays to your advantage.”)
Forbes also uncovered at least two other instances where Ivanka was offered steep discounts, sometimes to the tune of millions and millions of dollars, on apartments in buildings owned by her father. So all this talk of working hard for what she has and not getting any handouts are, in a word, bullsh*t.
Surprised? Us neither. Literally every other word out of Ivanka’s mouth is a lie.
Earlier this month, James asked a judge to appoint an independent monitor to keep an eye on the Trump Organization’s financial dealings as her lawsuit against the ex-president and his adult children prepares to go to trial.
She also requested the court bar the Trump Organization from offloading any more assets while the case works its way through the system. Additionally, she asked to expedite the case, seeking a trial start date of October 2023.
On Wednesday, Trump’s lawyers said they opposed the watchdog, telling the court, “This politically motivated attempt to nationalize a highly successful private enterprise is precluded under our Constitution and must and should therefore be rejected.”
James’ suit seeks $250 million in penalties and to bar any of the Trumps from doing business in the state of New York ever again.