Rudy Giuliani’s creditors want to force him to sell his Florida condo

FormerNew York City Mayor Rudy Giuliani could be forced by creditors to sell his Florida condo to pay off his massive debts.

The Committee of Unsecured Creditors – which represents individuals and entities to whom Mr Giuliani owes money or soon could — has filed a motion in bankruptcy court asking the court to compel the former mayor to sell his Florida condo.

Mr Giuliani valued his home in Palm Beach at $3.5m in previous court filings. It is his “second most valuable asset reported,” the filing states.

Mr Giuliani claimed he “only spends approximately 20-30% of his time in Florida” and primarily resides in his Upper East Side Manhattan apartment, the document says. The Manhattan apartment was previously listed for $6.5m but has since been taken off the market, with its value in bankruptcy court filings slashed by nearly a million.

“Every day that the Debtor holds the Florida Condo without making an effort to list, market and sell it, he continues to incur significant maintenance fees, in addition to other utilities, tax and upkeep costs,” the lawyers wrote.

The filing noted that Mr Giuliani listed spending roughly $8,400 per month related to the Florida condo. However, in January, Mr Giuliani made two maintenance fee payments of $15,995, the filing says.

The condo is “a significant drain on estate resources,” the lawyers wrote.

They also clarified that the committee is not forcing Mr Giuliani to “run an expedited sale process or accept a below market offer.”

However, the committee noted it is “concerned by” the former mayor’s “refusal to take steps to monetize a critical asset even though continuing to hold it wastes estate resources to the detriment of his unsecured creditors.”

The committee is also requesting that Mr