Donald Trump to Buy Ed McMahon's House

by Jarrett Martineau | August 14, 2008 at 05:12 pm

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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.

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Paschen

flagged this story as Good Stuff

at 22:54 on August 14th, 2008

Jarrett Martineau, I like this story. It's good stuff.

I never like him to much! Read is book some time ago, he must be one of the most arrogant and self centert Man I know!

hhonorable_one

at 10:01 on August 15th, 2008

Two distinguished Marine Corps figher pilots, Colonel Ed McMahon, USMC Retired, and Major Michael "Juice" Sobyra, USMC Retired meet for the first time; The F4-U Corsair meets the F/A-18 Super Hornet! We caught up with Mr. McMahon near the Sports Book in the Las Vegas Hilton in November of 2006. Colonel McMahon and his son Jeff are both gracious, first-class gentlemen. Despite "Juice" having earned a Juris Doctorate degree, he works as a Senior Instructor at TOPGUN, the Navy and Marine Corps' elite Fighter Weapons School made famous by the movie starring Tom Cruise. But Mike's been living off this experience ever since!

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Paul Bodnick (not verified)

at 10:59 on August 15th, 2008

A case where a wealthy person finds the plight of another wealthy person worthy of his help.

vinceerario

at 13:47 on August 15th, 2008

This photo was taken in Southhapton in August of 2007 at the Polo fields. Donald was promoting the opening of the new Trump Hotel on the South Shore.

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ewalady

at 09:19 on August 16th, 2008

Ed McMahon and Jennifer Simmons, of Spokane, WA. at the unveiling of the McMahon slot machine at the Global Gaming Convention in Las Vegas.

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ewalady

at 09:23 on August 16th, 2008

Ed is a very kind man. I've met him a couple of times through my casino connections. He played at Northern Quest Casino in Airway Heights, WA and was absolutely fabulous with the guests. He did a book signing while there and everybody was given as much time as they wanted to chat and get photograhed with him. Each time I've met him, he was always accommodating to fans. Good man. I'm glad Trump is stepping up to help.

waitingfortonight

at 08:38 on August 17th, 2008

here we have donald and their children xD

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Angela Jansen

at 12:39 on August 17th, 2008

It was really amazing. We, 2 dutch girls, visited NY for the first time and walked on 5th Avenue across the Trump Tower. We had to go to the loo, so we went in...took the elevator and it stopped. There they were mr and mrs Trump right in front of us. There we had the oppurtunity to make this astounishing picture...

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ussnewyork

at 04:13 on August 21st, 2008

A quick pep talk from Donald near Ground Zero on 9-13-08
Photo by Rich Lisi

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doubter (not verified)

at 07:13 on August 25th, 2008

you have got to be kidding. If Ed can't make the mortgage payment how is he going to make a lease payment? The Donald is just a publicity seeking piece of work. Get real people there is no "Donald the Hero" story here!!