Democratic Donor Henry Laufer Sells Trump Tower Condo

Trump Tower and (inset) Henry Laufer (Google Maps, Archetron)

Trump Tower and (inset) Henry Laufer (Google Maps, Archetron)

While Democratic megadonor Henry Laufer was helping evict President Donald Trump from the White House, the billionaire former hedge funder was trying to sell his own Trump Tower condo.

He succeeded on both fronts.

Laufer’s 60th-story unit at 721 Fifth Avenue closed the day before the presidential election with a final sale price of $5.5 million, according to property records. He purchased the unit in 2006 with his wife Marsha for $9.5 million. The couple listed it for sale in July with an asking price of $6.75 million.

The buyer is listed as Arboledas del Huajuco S.A. de C.V., an abbreviated suffix common among Mexican companies.

Judi Drogin-Feldman, a broker at the Corcoran Group who held the listing, declined to comment on the transaction.

While some donors might have given to Biden as a hedge against the new administration, the Laufers

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Public option faces long shot even with a Biden win and Democratic sweep

  • Democrats made the 2020 election all about healthcare, and are prepared to expand the Affordable Care Act. 
  • The Senate races aren’t over yet, but Republicans’ apparent hold on the upper chamber would create an insurmountable hurdle to Democrats’ most ambitious healthcare goals.
  • There’s still trouble ahead even if Democrats win control of the Senate. Members don’t agree about how to create a government plan that would compete with private insurance — a key promise by President-elect Joe Biden.
  • Progressives are pushing for Democrats to leverage Medicare to get health insurance to everyone in the US, but centrists want a privatized public option more like Medicare Advantage. 
  • “We are going to have to work really hard to fight back on that,” Rep. Pramila Jayapal of Washington said.
  • Visit Business Insider’s homepage for more stories.

President-elect Joe Biden’s campaign pledge to create a new type of government health insurance is poised to

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A Democratic blue wave would be bad for the real estate industry

With Joe Biden leading in the polls, many political analysts are predicting a blue wave this November that would put a Democrat in the White House, expand the Democratic majority in the House, and give the party control of the Senate.

a woman standing next to a man in a suit and tie

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If such a blue wave happens, the real estate industry could be hit by a tsunami of tax increases in 2021.

Biden has proposed a number of major tax increases that would, if enacted, have a seriously negative impact on real estate investors. Democratic members of Congress also have put forward a number of proposals specifically targeting the real estate industry. If the blue wave hits, it could sweep away like-kind exchanges, capital gains, carried interest, opportunity zones, expanded depreciation, and other tax incentives used by real estate investors.

A prospective Democratic government would be expected to move quickly in the first quarter of

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