Donald Trump’s worth a lot of money. Just ask him! If only the units in his buildings were appreciating as well.
The median price for a unit at a Trump-brand building in Manhattan rose by just 59 percent on average, according to a StreetEasy analysis. That’s compared to around 70 percent at similar luxury buildings, the New York Daily News reported.
“It’s not that Trump buildings are doing badly,” said StreetEasy data scientist Alan Lightfeldt, “[But] they’re by no means the gold standard for luxury as Trump so often claims.”
Still, buyers haven’t lost faith. Just last month soccer star Cristiano Ronaldo dropped $18.5 million on an apartment at the Trump Tower on Fifth Avenue in Midtown.
The developer and reality TV star has boasted continually of his prowess as businessman in his thus-far dominating run through the GOP’s presidential primary race. In its September issue, The Real Deal weighed Trump’s political prospects going forward. [NYDN] – Ariel Stulberg