Saudi Press

Saudi Arabia and the world
Saturday, Feb 22, 2025

Prices at Trump's NYC buildings have plummeted in the latest sign that his name is 'radioactive'

Prices at Trump's NYC buildings have plummeted in the latest sign that his name is 'radioactive'

Properties in Trump Tower and other Trump-branded Manhattan buildings have lost a staggering 51% of their value since he won the 2016 election.

After a tumultuous one-term presidency, a violent insurrection by supporters, and a retirement to Florida, the Trump name has attracted some negative connotations. And his real-estate holdings are feeling the heat: According to Curbed's analysis of a report from real-estate data firm UrbanDigs, Trump-branded Manhattan properties have lost half their value since Trump first took office.

UrbanDigs — which looked at the seven luxury buildings in Manhattan that still bear the Trump moniker, and three that used to — found that even properties that formerly had Trump in their names lost 17% of their value since 2016. By comparison, the overall price per square foot decline in Manhattan over the same period was just 9%.

In 2016, the average price per square foot in seven NYC properties run by his real-estate behemoth, the Trump Organization, was $3,346, according to the report. In 2017, following Trump's election and inauguration, that figure sunk to $1,903; by 2020, it was at $1,619. That's a drop of 51% from its 2016 price.

The average price per square foot for Manhattan properties was $1,995 in 2016, dipping to $1,815 in 2020 — a mere 9% decrease, Curbed notes.

Trump Tower, at 721-725 Fifth Ave., is a gilded condos-and-commercial building that includes Trump's own offices and ornate triplex penthouse. His other residential buildings in New York City include Trump International Hotel & Tower on Columbus Circle, Trump Parc and Trump Parc East on Central Park South, the Trump Park Avenue at 502 Park Ave. and Trump Palace at 200 East 69th St. on the Upper East Side, and Trump World Tower at 327 East 47th St. near the United Nations.

The UrbanDigs report also looked at three buildings that used to bear Trump's name along the Upper West Side's Riverside Boulevard, which faces the Hudson River.

The Capitol riot strained Trump's businesses further


A broker with Brown Harris Stevens and a former Trump Tower resident, Mark Cohen, was marketing three adjacent 41st-floor units in Trump Tower during the 2020 election.

The owner decided to temporarily take those units, which had a combined price tag of $9.49 million, off the market. The owner still wanted to sell the apartments, Cohen said, but wanted to wait out all of the news and attention surrounding Trump.

"My seller is not a desperate seller," Cohen said. "So we didn't want to encourage people who might come in with lowball offers."

That was before the insurrection.

UrbanDigs looked at the most recent data available for its report, which is the 2020 value of Trump's properties. That is a period during which Trump ultimately lost the election and then repeatedly questioned the legitimacy of President Biden's victory.

As Insider reported after the election, the prices in Trump buildings did falter, but residents and realtors were optimistic about the building's future.

However, the Trump name has been dragged through the mud even more in 2021, after a violent insurrection on the Capitol by Trump supporters left five dead and seemed to throw the peaceful transfer of power into question. Trump became the first president to be impeached twice.

Groups began to cut ties with the Trump Organization, including the Girl Scouts and the city of New York. Apartment owners at the Upper East Side's Trump Palace reportedly met to discuss removing Trump's name from the building, Bloomberg reported.

Cohen said that, in the weeks before the insurrection, he had fielded some phone inquiries from prospective buyers about the Trump apartments he was representing — but it felt like they were searching for deals.

"From a practical and business standpoint, I think it was just a smart decision to say, 'Let's wait while all the noise kind of surrounding the building and the brand slows down a bit,'" Cohen said. "And then we can think about what our options are probably in a couple months time or maybe longer."

Cohen said that many of the Trump-branded properties happen to be "really nice buildings." He still thinks that, once more time has passed since the insurrection, Trump Tower pricing will rise.

But even if buyers can score a luxury pad for a discounted price, the current situation makes Trump buildings too taboo.

"If I were choosing to market a new project, the Trump name is probably pretty radioactive right now," Cohen said.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia and the United States Strengthen Ties Amid Global Developments
Saudi Arabia Hosts Global Conference to Promote Islamic Unity
The Impact of Artificial Intelligence on Education and Child Development
Saudi Arabia Announces Competition for Best Founding Day Outfits
Saudi-EU Food Security Officials Hold Talks to Strengthen Collaboration
Putin Expresses Gratitude to Saudi Crown Prince for Hosting US-Russia Talks
UK and Saudi Arabia Enhance Collaboration in Innovation and Technology
Denmark's Embassy in Riyadh Showcases Danish Cuisine with Saudi Influence
Saudi Artist Salman Al-Amir Unveils 'Tafawut' Exhibition in Riyadh
Saudi Arabia Offers Condolences to Kuwait Following Military Exercise Fatalities
Saudi Ministry of Islamic Affairs Completes Ramadan Preparations in Madinah
Etidal Secretary-General Hosts UN Counter-Terrorism Director in Riyadh
ADNOC Drilling Targets Over $1 Billion in Investments for 2025 Amid Gulf Expansion Plans
Derayah Financial Achieves Remarkable Growth in Saudi Brokerage and Asset Management
Saudi Arabia Shortlists 30 Firms for Mining Licenses in Eastern Province and Tabuk
Saudi Foreign Minister Engages Counterparts at G20 Meeting in Johannesburg
Oil Prices Decline Amid Rising US Inventories
Saudi Arabia's NDMC Plans Green Bond Issuance by 2025
Moody’s Affirms Egypt’s Caa1 Rating Amid Positive Economic Outlook
Oman and Saudi Arabia Strengthen Economic Ties with New Agreements
Saudi Arabia Investments Propel Expansion of Qurayyah Power Plant
Saudi Capital Market Authority Advances SPACs and Direct Listings
Global Energy Leaders Gather in Riyadh for Symposium on Energy Outlooks
Al-Ahsa Region Sees 500% Growth in Tourism as Saudi Arabia Prioritizes Development
Saudi Arabia Advances Entrepreneurial Ecosystem in Al-Ahsa with New Agreement
King Salman Approves Official Saudi Riyal Symbol
Saudi Credit Card Lending Reaches $8.4 Billion Amid Digital Payment Expansion
King Salman Approves Official Symbol for Saudi Riyal
Putin Thanks Saudi Crown Prince for Facilitating U.S.-Russia Discussions
Saudi Foreign Minister Attends G20 Meeting in Johannesburg
Saudi Arabia Prepares for Nationwide Founding Day Celebrations
Inauguration of Hira Park and Walkway Enhances Jeddah's Urban Landscape
Crown Prince Hosts Leaders for Informal Meeting in Riyadh Amid Gaza Rebuilding Plans
Saudi Official Highlights Achievements and Media's Role in National Transformation
Three Expatriate Women Arrested for Prostitution in Riyadh
Saudi Arabia's Diplomatic Evolution Highlighted at Saudi Media Forum
Healthy Eating and Preparation Essential for Ramadan Fasting
Saudi Arabia and Japan Forge Sustainable Textile Partnership
Advanced Limb Surgery Restores Mobility in Pediatric Cancer Patient
Jeddah Event Explores AI's Role in Boosting Saudi Arabia's SME Sector
UN Representative Highlights AI's Role in Perpetuating Gender Stereotypes
Saudi and Jordanian Leaders Discuss Enhanced Security Cooperation in Amman
Saudi British Society Honors Cultural Bridge-Builders at London Gala
Saudi Media Forum 2025 Explores AI's Role in Modern Journalism
Saudi Arabia's Saqer Al-Moqbel Appointed as WTO General Council President for 2025–2026
Saudi Deputy Ministers Engage in Diplomatic Discussions with U.S. and Dutch Officials in Riyadh
Saudi Arabia to Launch Iftar Program in 61 Countries During Ramadan
Saudi Visitors Expected to Spend £942 Million in UK During 2025
Saudi Arabia Gifts Kaaba's Kiswah to Uzbekistan's Center of Islamic Civilization
Digital Cooperation Organization Concludes Fourth General Assembly with Multiple Agreements
×