The Trump Organization is pushing back against a claim that President Donald Trump sold two condos to his son Eric at a below-market rate that might have triggered federal gift taxes.

Two tax lawyers claim the transfer of two well-located condo units from a company controlled by President Trump to one controlled by Eric Trump could run afoul of the IRS if the president didn't pay federal gift taxes.

A company controlled by Donald Trump transferred a pair of condos to a limited liability corporation owned by Eric Trump in 2016 for $350,000 each in April of 2016.

In February of that year, the units on the 13th and 14th floor of the building were listed on a 2016 schedule of unsold units at more than double that value – $790,000 and $800,000.

Pedestrians pass the Trump Parc East building Tuesday, May 31, 2016, in New York. A Donald Trump owned company transferred two units to an Eric Trump owned LLC in 2016

A lower level unit, 5G, sold for $690,000. All are located on Central Park South in a desirable midtown Manhattan location.

But that unit was beautiful, newly renovated and fully furnished, a senior Trump Organization official told DailyMail.com, while the units then-candidate Trump transferred to his son were not refurbished.

The official noted that a similar unit went for a lower price of $288,000, although that sale occurred back in 2013. That unit was exactly the same size with the same view as the one transferred to Eric Trump.

By arguing that the $350,000 price was fair, and in the range of other comparable units, the official was making the argument that the transaction was made at a fair market value price – rather than being done at a below-market value as a form of a gift – which is allowable so long as it gets declared and any taxes are paid.

The transfer was recorded on President Trump's latest financial disclosure – although it was obscured by the name of the buyer: CPS APARTMENT 13G LLC. The seller was TRUMP CPS LLC.

BEDMINSTER, NJ - JULY 16: Eric Trump walks out on the 18th green before the trophy ceremony after the final round of the U.S. Women's Open on July 16, 2017 at Trump National Golf Club in Bedminster, New Jersey.

The president's most pressing problem may come from 'a pre-election transfer of property to a company controlled by his son that could run afoul of the IRS,' two tax lawyers, David Herzig and Bridget Crawford, wrote in the Washington Post.

Herzig is a visiting professor at the Loyola Los Angeles school of law, and Crawford is a law professor at Pace University. The op-ed piece was headlined: 'This Trump real estate deal looks awfully like criminal tax fraud.'

TAKE THESE CONDOS: Republican presidential nominee Donald Trump (L) kisses his son Eric Trump during a campaign event at Briar Woods High School August 2, 2016 in Ashburn, Virginia. Trump continued to campaign for his run for president of the United States

The condos are located in a 14-story building on Central Park South, an optimal location. Their individual size, listed as about 500 square feet east, might not be quite up to the president's preference for roomier units.

At issue is whether the condos were sold at below their market value, which would have triggered federal gift taxes, and whether the president identified the gifts and paid the gift taxes on his federal return.

The authors raise the possibility that Trump may not have done so because following the sale, his company paid $13,000 in state and local transfer taxes in New York.

If President Donald Trump transferred condo units at below market value, he would have been required to pay gift taxes or file a federal gift return, two tax lawyers wrote

Documents obtained by ProPublica show the two units had been priced at $790,000 and $800,000

The sale price was listed at $350,000

The sale was recorded between two LLCs controlled by Donald Trump and Eric Trump

NEW YORK, NY - SEPTEMBER 26: Lara Trump (L) and Eric Trump attend the Elvis Trumps Cancer Walk Benefiting St. Jude Children's Research Hospital at Cadman Plaza on September 26, 2015 in New York City

'If he paid state and local transfer taxes, that means he didn’t treat the transfers as gifts. And on the real estate forms in New York, Trump didn’t check any of the boxes indicating that these were sales between relatives or sales of less than the entire property. It would seem, then, that he treated the transactions as if they were sales for fair market value to a stranger,' the authors write.

The existence of the sale was first reported last month by ProPublica and the Real Deal, which relied on crowdsourcing among readers to uncover who the buyer was.

A sale below fair market value also would have required filing a special gift return, which gets used to ensure total gifts fall under a lifetime exemption.

BEDMINSTER, NJ - JULY 16: Lara Yunaska and her husband Eric Trump walk on the 18th green to attend the trophy ceremony for the U.S. Women's Open on July 16, 2017 at Trump National Golf Club in Bedminster, New Jersey. (Photo by Elsa/Getty Images)

TURNBERRY, SCOTLAND - JUNE 28: Eric Trump and his wife Lara attend the opening Trump Turnberry's new golf course the King Robert The Bruce course on June 28, 2017 in Turnberry, Scotland. Formerly the Kintyre Course, it has been redesigned and upgraded and forms the second course to the acclaimed championship Ailsa course

Another sale in the building occurred in November of 2016, just seven months after the Trump transfer.

That transaction shows the sale price to be $189,000 – but public records indicate this sale was only for a 6 per cent share of the 937 square foot unit, which would be valued at above $2 million.

Records show Peterson Real Estate Investment LLC was the seller, with a Salt Lake City, Utah address.

Joel Peterson operates Peterson Partners, and is chairman of JetBlue airlines.

The building has an elevator, a full time doorman, and allows pets.

Eric Trump and Donald Trump were both listed on the condo board with the units were up for sale in 2016.