Television personality Ed McMahon, who at the age of 85, recently faced foreclosure on his multi-million dollar Beverly Hills home, has now been assisted by real estate mogul Donald Trump, who has agreed to purchase the home and lease it back to McMahon.
Mega-developer and TV personality Donald Trump has agreed to buy Ed McMahon’s Beverly Hills house for an undisclosed amount and allow McMahon to continue living in it. Details of the deal are still being ironed out.
“I don’t know the man, but I grew up watching him on TV,” Trump said in an exclusive interview with The Times.
McMahon, 85, was facing foreclosure within two weeks on his Beverly Hills home of 18 years. The aging television icon, who was Johnny Carson’s sidekick for three decades, defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. He said in interviews that he was unable to work because of a neck injury that occurred about 18 months ago.
Trump said he stepped in because helping McMahon “would be an honor.” His plan is to buy the home from the lender and lease it back to McMahon.
What sounds like an act of genuine goodwill and generosity, however, was not Trump’s idea: McMahon’s real estate agent Alex Davis made a trip to New York in order to ask Trump to step in:
The deal with Trump was cemented this past weekend when McMahon’s listing agent, Alex Davis of Hilton & Hyland in Beverly Hills, flew to New York to make a personal appeal to Trump. Davis declined comment.
Nevertheless, Ed McMahon will be able to continue living in his swanky mansion and avoid the embarassment of becoming a very public face of the foreclosure crisis that is currently affecting many of America’s largest cities.