BUSINESS

Old Post Office Pavilion to be sold to Donald Trump for $200 million

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Donald Trump is one step closer to owning the Old Post Office Pavilion, Federal Times reports.

Trump and the GSA have reportedly come to terms on a $200 million deal to transform the venerable Pennsylvania Avenue NW building, which dates back to 1899, into a complex featuring a luxury hotel, conference rooms and restaurants.

The deal will not require Congressional approval, Federal Times says.

Trump's organization was tapped to redevelop the Old Post Office Pavilion in February of 2012.

READ MORE at federaltimes.com.

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