Sothebys real estate sales denever, the nation’s biggest independent real estate firm, is suspending all sales of the White Houses residence, the company announced on Monday.
The firm said that the White house’s sale to a Chinese buyer would be postponed until next year, when a new buyer will be chosen for the property.
The decision came as Sothebes management announced a series of measures, including a $10 million buyback fund and a $100 million cash infusion from the State Department to help stabilize the company.
The president of Sotheburs sales and marketing division, Steve Gaffney, told investors the decision was not based on speculation or speculation at a time of crisis, but was made in response to the Whitehouse sale being delayed until at least 2020.
“The decision to delay the sale is not about speculation,” Gaffneys statement said.
“We are not making any speculation on the President.
We are making a decision to support our customers and our business.”
The announcement comes as President Donald Trump, who has faced criticism for not visiting the WhiteHouse more frequently in the first half of the year, is under fire from both the House and Senate over the administration’s handling of the opioid crisis.
House Speaker Paul Ryan has also called on Trump to visit the White-House in the coming days.