Trump forgoes cash in commercial lease deal at 40 Wall Street

New York /
Sep.September 14, 2011 08:37 AM
alternate
text
Donald Trump and 40 Wall Street

When Donald Trump’s newest tenant in his 70-story office tower at 40 Wall Street suggested an unconventional security deposit payment method, the former would-be presidential candidate took it as an opportunity to bash President Barack Obama. According to the Wall Street Journal, precious metal dealer Apmex will pay the $176,000 security deposit on its 10-year lease with three 32-ounce bars of gold, each about the size of a television remote.

“It’s a sad day when a large property owner starts accepting gold instead of the dollar,” Trump said. It’s the first time the Trump Organization has accepted gold for a commercial lease. “The economy is bad, and Obama’s not protecting the dollar at all….If I do this, other people are going to start doing it, and maybe we’ll see some changes.”

Apmex is taking space in the 50th floor at about $50 per square foot, according to CEO Michael Haynes, who suggested the transaction be made in all gold. “I figured, Trump is a smart guy, and he’ll realize that taking gold is a better idea than taking cash,” he said. [WSJ]


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Trump nearing $370M sale of DC hotel to Miami investment firm
Trump nearing $370M sale of DC hotel to Miami investment firm
Trump nearing $370M sale of DC hotel to Miami investment firm
Trump’s DC hotel lost $70M during presidency
Trump’s DC hotel lost $70M during presidency, docs say
Trump’s DC hotel lost $70M during presidency, docs say
Homeless shelter operator backs off deal to take over Trump’s Bronx golf course
Homeless shelter operator backs out of Trump Bronx golf course deal
Homeless shelter operator backs out of Trump Bronx golf course deal
Donald Trump and the Ferry Point course (Getty, Trump Golf Links Ferry Point)
Homeless shelter operator to take over Trump’s Bronx golf course
Homeless shelter operator to take over Trump’s Bronx golf course
Trump Plaza New Rochelle at 175 Huguenot Street and Donald Trump (Getty, Anthony22/Wikimedia)
Trump Plaza New Rochelle dumps Trump Org as property manager
Trump Plaza New Rochelle dumps Trump Org as property manager
Donald Trump with Trump International Hotel in Washington DC (Getty, Trump Hotels)
Trump Org in “advanced talks” to sell DC Hotel lease
Trump Org in “advanced talks” to sell DC Hotel lease
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...