I’ve asked Chat GPT about Commissioner Bisignano’s real estate holdings. Unfortunately, there are layout problems I don’t know how to correct. It still seems worth posting despite the way it looks.
How many homes does Frank Bisignano, Commissioner of Social Security, own and where are they located?
According to Frank J. Bisignano’s public federal financial-disclosure filing, he reported 11 residential properties. The filing does not necessarily mean all are personally titled in his name; several are held through LLCs or trusts in which he reports an ownership interest.
|
Location |
Number |
Description in disclosure |
|
Mantoloking, New Jersey |
1 |
Residential rental property |
|
Montclair, New Jersey |
1 |
Residential rental property |
|
Westfield, New Jersey |
1 |
Residential rental property |
|
Watchung, New Jersey |
1 |
Residential rental real estate |
|
New York City, New York |
4 |
Units identified as 19-B, PH1F-G, 25F and 6-H |
|
Emerald Isle, North Carolina |
1 |
Residential rental property |
|
Atlantic Beach, North Carolina |
1 |
Residential rental property |
|
Bachelor Gulch, Colorado |
1 |
Residential rental/vacation property |
|
Total |
11 |
|
The filing also reports vacant land in Watchung, New Jersey, which I have not counted as a home. It separately reports a commercial rental property in Watchung, also not counted.
A few important qualifications:
- The Bachelor Gulch, Colorado property was acquired in 2024 and was described as a rental/vacation property that had not yet been rented when the disclosure was filed.
- The Watchung residential property and the four New York properties are reported under MAH Realty Management LLC, with the filing indicating that a trust owns a one-third interest in the assets listed under that entity.
- The disclosure lists values rather than street addresses. I would not infer or provide private residential street addresses from other property records.
- SSA confirms that Bisignano is currently the agency’s 18th Senate-confirmed Commissioner and that he resides in New Jersey.
- Break down the value of those properties.
Yes. I reviewed the underlying OGE Form 278e financial disclosure rather than relying on the summary. The disclosure gives value ranges, not exact appraised values.
Bisignano’s reported residential real estate
|
Property |
Reported value |
|
Mantoloking, NJ |
$1,000,001 - $5,000,000 |
|
Montclair, NJ |
$500,00 - $1,000,000 |
|
Westfield, NJ |
$1,000,000 - $5,000,000 |
|
Watchung, NJ |
$5,000,001 - $25,000,000 |
|
New York City 19-B |
$1,000,001 - $5,000,000 |
|
New York City PH1F-G |
$5,000,001 - $25,000,000 |
|
New York City 25F |
$1,000,001 - $5,000,000 |
|
New York City 6-H |
$500,001 - $1,000,000 |
|
Emerald Isle, NC |
$1,000,001 - $5,000,000 |
|
Atlantic Beach, NC |
$1,000,001 - $5,000,000 |
|
Bachelor Gulch, CO |
$5,000,001 - $25,000,000 |
The individual figures are directly from the disclosure.
Total reported value
Adding the ranges gives a combined reported property value of approximately $18 million to $87 million.
There is an important wrinkle, however: the disclosure says that 2020 Trust 1 owns a one-third interest in the Watchung and four New York properties. Thus, the $5–25 million Watchung figure and the four NYC figures represent the reported value of the underlying real estate, not necessarily the value of Bisignano’s personal beneficial interest.
The Bachelor Gulch property is particularly notable: it was purchased in 2024 for purposes of being a rental/vacation property and had not yet been rented as of the date of the filing. It was reported at $5,000,001–$25,000,000.
Also, I would correct one point from my previous answer: the Watchung property is described in the filing as residential rental real estate, while a separate Watchung property is commercial real estate. The commercial property is worth $5,000,001–$25,000,000 but is not included in the 11 residential properties above.
If you want, I can next calculate Bisignano’s estimated personal equity in each property, taking into account the disclosed mortgages and the one-third trust interests, which gives a much more meaningful picture of what the properties are actually worth to him.
17 comments:
That man just gets grosser and grosser the more I learn about him
What is Frank 🥨 Bisignano, doing working at SSA? He must be looking for a pardon in order to make this job worthwhile since he doesn’t need the money.
It is truly the Golden Age for Frankie! 💰
Now an accounting of all pretzel holdings and subsidiaries, please.
Thank you for detailing this. My colleagues and I are delighted to finally have a competent business leader heading our agency. And have you seen the returns yet? He’s breaking all sorts of records. Customer service at all time highs. Get this: with fewer employees to boot. Just goes to show the answer isn’t always more funding and employees.
Is this Frankie’s brother?
Who cares?
As others have noted, he got a mammoth tax break by taking the job and getting to defer or possibly eliminate paying taxes if he cashed in his gains on his company stock right before it hit the fan
The ultra rich overseeing the ultra poor. What could go wrong? History has shown us...and history has an irritating tenancy to rhyme.
Why wouldn't a billionaire not have a portfolio like this? I do not hold his success against him. And he does no such thing as "overseeing the ultra poor". SSA benes as a whole are the wealthiest generation in our history. Cannot hold the SSI regs against him.
Was Charles hacked? Thought this was a Social Security blog…
Doesn’t Frank Bisignano, run Social Security? Nobody told Bisignano to lead this very important agency and scrutiny is warranted.
That you, Russ Vought??????
Haha. Morale at SSA is so poor even PAT has PTSD. At some point, there will be an uprising against the oligarch class Frank very much represents and has been put in place to protect. The only solace I have currently, however, is these men must know in their shriveled hearts that they are stains on society and will be written about as villains for generations.
Not holding his success against him. That's great for him as far as a portfolio. It would just be nice to have someone more-so on about the same level as disability clients to understand the needs of those with low incomes. Billionaires that oversee poverty/disability programs is intimidating to some. The ultra rich are on another level and seem hard to understand the plight and needs of the disabled/poor. Peer understanding is more productive. Frank is used to not having to worry about the cost of living, where a lot of beneficiaries are plagued with the cost of living and go without a lot of times. I doubt Frank goes without one thing to cover another, or has to make a choice between paying rent/mortgage or paying for medications or food. But, I would never hold someones success against them, but I do question the effectiveness of someone of his stature and wealth understanding the needs of the poor and disabled.
This has a lot to do with Social Security. Frank Bisignano is running it. Public knowledge is priceless in general, regardless of of what agency, but this certainly pertains to Social Security by providing public records on those running the system.
And now...THIS...https://newrepublic.com/post/215484/federal-workers-got-paid-billions-not-work-thanks-doge
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