Trump property next to Mar-a-Lago hits market for $49M
Homeowners will get access to The Mar-a-Lago Club
A sprawling Palm Beach property linked to former President Donald Trump has reportedly hit the market to the tune of $49 million.
The property, sitting directly next to Mar-a-Lago’s Beach Club, is owned by a limited liability company tied to the Trump Organization, the family’s business entity, according to property records obtained by FOX Business.
It was last sold in May 2018 for about $18.5 million to the limited liability company, according to property records. The company’s mailing address also matches The Trump Organization in New York City, records show.
A sprawling Palm Beach property linked to former President Donald Trump has hit the market to the tune of $49 million. (The Trump Organization)
CLICK HERE TO READ MORE ON FOX BUSINESS
Now, the eight-bedroom home, spanning roughly 10,455 square feet, is being listed by Lawrence Moens of the Lawrence A. Moens brokerage, according to the Palm Beach Daily News.
According to the outlet, the home is being advertised as an "exclusive listing" although it doesn't mention any ties to the Trump family.
The listing is described as "a well-known and very important oceanfront estate" that will be readily available for interested homeowners by late spring.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The home includes a formal living room, a sunroom, a family room, a library and a balcony with ocean views, according to the outlet, citing previous property listings.
There is also a patio and swimming pool on the property, which is more than six-tenths of an acre and has 194 feet of beachfront, the outlet reported.
The property, sitting directly next to Mar-a-Lago’s Beach Club, is owned by a limited liability company tied to the Trump Organization, the family’s business entity. (The Trump Organization)
However, the newest homeowners will get certain privileges, including free membership to The Mar-a-Lago Club, the Palm Beach Daily News reported.
Trump purchased Mar-a-Lago for $10 million in 1985 from the estate of Marjorie Merriweather Post, the owner of General Foods. The 126-room mansion had deteriorated after her death in 1973, when she left it to the U.S. government as a possible presidential vacation home. The government gave it back in 1981.
It was last sold in May 2018 for about $18.5 million to the limited liability company, according to property records. (The Trump Organization)
A PALM BEACH PROPERTY ONCE OWNED BY DONALD TRUMP SELLS FOR CLOSE TO $140M
However, in the early 1990s, the estate had been turned into a private club that would be limited to 500 members, including the former president. The initiation fee is now $200,000 and annual dues are $14,000.
Representatives for the Lawrence A. Moens brokerage and the Trump Organization did not respond to FOX Business' request for comment.
There is a patio and swimming pool on the property, which is more than six-tenths of an acre and has 194 feet of beachfront. (The Trump Organization)
The Associated Press contributed to this report.