In July 1995, real estate developer (and later U.S. president) Donald Trump signed a letter of intent to lease the building and renovate it for $100 million.
The leasehold was transferred that December.
Though The New York Times reported at the time of the sale that Trump purchased the leasehold for $8 million, Trump has given conflicting accounts as to the actual price of 40 Wall Street.
In November 1995, Trump stated he was buying the leasehold from Kinson for $100,000.
During a 2005 episode of The Apprentice, Trump claimed he only paid $1 million for the leasehold, but that it was actually worth $400 million.
Trump's legal advisor, George H. Ross, restated this claim in a 2005 book.
On a 2007 episode of CNBC's The Billionaire Inside, Trump again claimed he paid $1 million for the leasehold, but stated the building's value as $600 million.
However, in 2012, it was reported that Trump paid $10 million for the leasehold, while the building's estimated worth was $1 billion.
Trump's estimate of the building's worth also conflicted with that of New York City tax assessors, who in 2004 estimated the building as being worth $90 million.

Ultimately, Trump spent $35 million on buying and refurbishing 40 Wall Street.
Trump planned to convert the upper half of 40 Wall Street to residential space, leaving the bottom half as commercial space.
Real-estate experts quoted in the New York Daily News said that the lowest 25 floors were extremely large, and it would not be profitable to convert them to apartments.
By 1997, Trump was negotiating with hotels to occupy the lower stories of 40 Wall Street.
Der Scutt Architects renovated the lobby, though the cost of converting the upper floors to residential space was ultimately too high for Trump.
He tried to sell the building in 2003, expecting offers in excess of $300 million, which did not materialize.
The New York Times wrote in 2004 that the building had $145 million of debt.
In 2011, Duane Reade opened its flagship branch inside the former banking space.

40 Wall Street Ltd. handed its ownership stake in the building to 40 Wall Street Holdings in 2014.
According to Federal Election Commission applications filed in 2015 during Trump's 2016 presidential campaign, Trump had an outstanding mortgage of over $50 million on the property.
By 2016, Bloomberg News estimated that 40 Wall Street was worth $550 million.
At the time, Trump paid $1.65 million a year to the building's owners as part of his lease.
According to Bloomberg, several of the building's 21st-century tenants included firms that were accused of scams of fraudulent activity, or were associated with people accused of such activities.
In July 1995, real estate developer (and later U.S. president) Donald Trump signed a letter of intent to lease the building and renovate it for $100 million. The leasehold was transferred that December. Though The New York Times reported at the time of the sale that Trump purchased the leasehold for $8 million, Trump has given conflicting accounts as to the actual price of 40 Wall Street. In November 1995, Trump stated he was buying the leasehold from Kinson for $100,000. During a 2005 episode of The Apprentice, Trump claimed he only paid $1 million for the leasehold, but that it was actually worth $400 million. Trump's legal advisor, George H. Ross, restated this claim in a 2005 book. On a 2007 episode of CNBC's The Billionaire Inside, Trump again claimed he paid $1 million for the leasehold, but stated the building's value as $600 million. However, in 2012, it was reported that Trump paid $10 million for the leasehold, while the building's estimated worth was $1 billion. Trump's estimate of the building's worth also conflicted with that of New York City tax assessors, who in 2004 estimated the building as being worth $90 million.
Ultimately, Trump spent $35 million on buying and refurbishing 40 Wall Street. Trump planned to convert the upper half of 40 Wall Street to residential space, leaving the bottom half as commercial space. Real-estate experts quoted in the New York Daily News said that the lowest 25 floors were extremely large, and it would not be profitable to convert them to apartments. By 1997, Trump was negotiating with hotels to occupy the lower stories of 40 Wall Street. Der Scutt Architects renovated the lobby, though the cost of converting the upper floors to residential space was ultimately too high for Trump. He tried to sell the building in 2003, expecting offers in excess of $300 million, which did not materialize. The New York Times wrote in 2004 that the building had $145 million of debt. In 2011, Duane Reade opened its flagship branch inside the former banking space.
40 Wall Street Ltd. handed its ownership stake in the building to 40 Wall Street Holdings in 2014. According to Federal Election Commission applications filed in 2015 during Trump's 2016 presidential campaign, Trump had an outstanding mortgage of over $50 million on the property. By 2016, Bloomberg News estimated that 40 Wall Street was worth $550 million. At the time, Trump paid $1.65 million a year to the building's owners as part of his lease. According to Bloomberg, several of the building's 21st-century tenants included firms that were accused of scams of fraudulent activity, or were associated with people accused of such activities.
40 Wall Street