Trump Organization sues Saudi prince for not paying rent: Report
Trump Park Avenue, a skyscraper in New York City owned by US President Donald Trump, has filed a lawsuit against a Saudi prince for not paying nearly $4 million in rent.
Faisal bin Abdul Majeed al-Saud leased Penthouse 21 in 2013 and stopped paying rent in or about January 2017, according to the lawsuit, Bloomberg reported Saturday.
The 35-story building, which is owned by the Trump Organization, is located at 59th Street and Park Avenue in Manhattan.
The tenant had agreed in June 2014 to extend the lease through June 2019, according to the complaint. Trump Park Avenue is now suing for more than $1.8 million in due rent and another $1.9 million in future rent.
The prince was supposed to pay a monthly rent of around $116,000 come July 2017, according to a lease modification agreement.
In February last year, Trump sold one of his penthouses for $15.9 million to Angela Chen, who is in charge of Global Alliance Associates LLC. Chen claims her company specializes in establishing “influential relationships with key decision-makers” in China for its client.
It was revealed in the heat of the 2016 US presidential campaign that Trump had made millions of dollars from his property deals with Saudi Arabia.
Saudis paid Trump $4.5 million in June 2001, and bought the 45th floor of the real estate mogul’s Trump World Tower in Manhattan, The New York Daily News reported.
The report also revealed that Trump had even hosted former al-Qaeda leader Osama bin Laden's half-brother, Shafiq, in Trump Tower. Bin Laden used a $8,500 security deposit to spend four months in one of the skyscraper’s apartments in 1986.
After winning the election in November 2016, Trump proceeded to shut down a number of his companies including four that were allegedly connected to a business venture in Saudi Arabia.
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