Donald Trump’s bid to become the next president of the United States is far from an April Fools’ joke at this point. Nearly 10 months after the famed developer declared his candidacy at the Midtown skyscraper that bears his name, neither a string of controversial statements nor a crowded field of GOP rivals has thrown Trump off his stride as the clear front-runner for the Republican presidential nomination.
For our April issue, The Real Deal examined the Donald’s candidacy from a real estate perspective, exploring why many of New York City’s biggest developers are reluctant to even be drawn on the subject of Trump’s presidential run and taking stock of the vocal minority.
We take a deep dive into Trump’s extensive history in the courts, where he’s no stranger to litigation, and what may become of his considerable business interests should he make it all the way to the White House.
Elsewhere, there’s an examination of the EB-5 visa program, which has only grown as a vehicle for real estate financing over the past several years. How much longer will New York City’s love affair with EB-5 last, who are the gatekeepers who connect developers with foreign investors, and which real estate projects are banking their success on the program?
We also look at how architect Santiago Calatrava’s World Trade Center Oculus became a decade-long, $4 billion albatross, profile the New York State Supreme Court judges who hold sway over some of the industry’s biggest cases, and map out the Manhattan dwellings of the 79 billionaires who call New York City home.
Finally, in the Closing interview, LeFrak Organization mogul Richard LeFrak talks about why joining the family business was “predetermined,” how he doesn’t know or care about his net worth, and whether there’s a place for him in Donald Trump’s cabinet.
To read the April issue of The Real Deal, click here or on the “Magazine” tab on the top left of the homepage. Enjoy. – Rey Mashayekhi