PALM BEACH — President Donald Trump is unloading some of his South Florida real estate.
Records in the Town of Palm Beach show Trump recently deeded two single family homes he owns near his fancy Mar-a-Lago Club to two separate company, DTW Venture LLC and DT Venture 1.
Both companies are controlled by … Trump and his family, and based in Trump Tower in Manhattan.
The two properties, adjacent to Mar-a-Lago on the north side, were appraised by Palm Beach County authorities for $2.4 million (124 Woodbridge Road) and, the beachfront property next door at 1094 South Ocean Blvd. for $8.5 million.
And since Trump has owned both personally since 1993, the properties could be worth more than twice as much.
The transfers of the properties were signed by Trump Dec. 31, just 10 days before a circus-like press conference where he announced he was handing over control of all his companies to sons, Donald Jr. and Eric.
The arrangement came immediately under scrutiny as critics howled that Trump should transfer control to a blind trust managed by non-family members to avoid potential conflicts of interest, as many top government officials had done before him.
Yet Alan Garten, the chief legal officer for Trump’s numerous businesses, said the deed transfer is consistent the president’s public statements.
“All his assets, including the two houses in Palm Beach, are in trusts now controlled by his sons,” Garten said. “This shows he is fulfilling his promise to separate himself from his business interests.”