Trump's Caribbean Estate Is In Irma's Path (Photos)

Trump's Caribbean Estate Is In Irma's Path (Photos) Promo Image

Hurricane Irma is making its way through the Caribbean toward possible landfall in Florida, and wrought havoc on St. Martin, where President Donald Trump owns an estate.

The estate, Le Chateau des Palmiers, is under the control of a trust in charge of the president's assets, according to New York Daily News. The trust had recently put the estate on the market, reducing its asking price to around $17 million from the previous $28 million.

Trump purchased the 5-acre private beach estate, which has an 11 bedrooms spread throughout the compound, from business associate Steve Hilbert and his wife Tomisue in 2013, according to The Washington Post. The price Trump paid was not disclosed, but the asking price at the time was $19.7 million.

Trump hasn't often been seen at Le Chateau des Palmiers, which means Castle of the Palms in French, and and instead rents the compound out to those who pay up to $20,000 a night. The rental fee includes a private chef and the service of staff at the estate.

These rentals reportedly earn $100,000 to $1 million each year for the trust.

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Broker Jonathan Schaede said that at its new price, the estate is "definitely getting close to the bargain scenario. It's a good deal."

"This property has some particularities, being that the owner is the president of the United States, and there are some positives and then some unwanted attention that come with that," added Schaede. "It definitely makes for conversation, but I don't see anybody lining up outside."

Island Real Estate Team owner Arun Jagtiani said a "drastic" reduction in price like that of the estate overlooking Plum Bay "suggests the seller is getting serious about wanting to make a deal."

It's not clear yet whether there has been any damage to the compound as Irma batters St. Martin, causing serious damage to structures on the island.

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"We know that the four most solid buildings on the island have been destroyed," said French Interior Minister Gerard Collomb. "Which means that more rustic structures have probably been completely or partially destroyed."

Amanda Miller, a Trump Organization spokeswoman, said the company is keeping an eye on the situation in St. Martin.

"All of the proper precautions and protections have been implemented and right now we are just praying for all those in the path of Hurricane Irma in the Caribbean and beyond," said Miller.

After it passes through the Caribbean, Irma is expected to make landfall in Florida, where Trump also owns property, including three golf courses and the Mar-A-Lago club. It's not clear yet whether those properties will be in Irma's direct path.

Sources: New York Daily News, The Washington Post (2) / Featured Image: Ollie Jones/Flickr / Embedded Images: Dominique Godefroy/YouTube via New York Daily News, Meddy GS/Island Real Estate Team via The Washington Post

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