According to The Wall Street Journal, the rent for Ivanka Trump’s and her Jared Kushner’s Kalorama home totals $15,000 per month with a lease that is reportedly for two-and-a-half years.
While the rent might seem like a lot, it is in line with similar properties in the area. Despite this, it’s actually a bad deal—for the landlord. Their landlord is a Chilean magnate, known as Andrónico Luksic, whose company is embroiled in a dispute with the government over a mine. When Luksic purchased the six-bedroom property, he paid $5.5 million.
The Wall Street Journal reported, “The $15,000 monthly rent works out to an annual sum of about 2.5% of the home’s value, after subtracting about $40,000 in taxes and insurance that the landlord generally pays.”
While D.C. property owner Joshua Adler described the investment as “terrible” in an interview with The Wall Street Journal, Rodrigo Terré, who manages Luksic’s personal investments, said the rent return is “reasonable.”
Trump’s home was constructed in 1923 by Waddy Butler Wood, a D.C. architect whose works include the Woodrow Wilson House and the Masonic Temple, which is now used as the National Museum of Women in the Arts. Award-winning D.C.-based architect Christian Zapatka renovated the property in 2014.
Want to take a look inside? Check out this Curbed DC article.
• Ivanka Trump and Jared Kushner’s Rent in Washington: $15,000 a Month [Wall Street Journal]
• Inside Ivanka Trump’s new D.C. home [Curbed DC]