Trump Int’l Realty lands with a bang: PHOTOS

Donald Trump promises “everyone involved” will profit off new brokerage

New York /
Oct.October 25, 2012 02:00 PM

The champagne was in full-flow last night at the launch party for Trump International Realty, the new luxury residential brokerage headed by the Trump family.

Real estate pros gathered in droves in the pink and white-veined marble lobby of Trump Tower at 725 Fifth Avenue at around 6 p.m. to hear Donald Trump and his daughter, Ivanka, take to a podium to announce the firm’s arrival in the competitive arena of New York City brokerage. While the Trumps already had their own in-house leasing team for their own buildings, Trump Sales & Leasing, the firm will now work in non-Trump buildings all over the city representing high-end sales and rentals.

Brokers from competing firms such as Prudential Douglas Elliman and Warburg Realty were in attendance. The Real Deal spotted Elliman’s Fredrik Eklund and John Gomes as well as Michael Lorber, son of Elliman chairman, Howard Lorber, and Douglas Elliman Worldwide President Neal Sroka working the room. Richard Steinberg of Warburg Realty also mingled with other guests.

Lorber said he saw Trump’s new firm as bringing some “healthy competition” into the marketplace. The Lorbers and the Trumps are longtime friends. Howard Lorber reportedly plays golf regularly with the Donald, and Michael Lorber was an intern for the Trump Organization while in law school. Michael told The Real Deal his first apartment out of college was at 725 Fifth Avenue.

Taking the stage, Donald Trump told the crowd with typical bluster: “Everyone involved [in this venture] is going to make money. I don’t think with the people we’ve assembled that anyone can compete with what we’re doing.”

Asked how TIR would fit into the already busy landscape of firms competing for listings, Trump’s son Donald Trump Jr. told The Real Deal the firm would succeed because of its “niche” client base and the power of the Trump brand internationally.

As previously reported, Trump’s exclusive listings currently include a two-bedroom at the Hampshire House at 150 Central Park South listed at $8.5 million and a $75,000 rental at 240 Riverside Boulevard. At the helm of the company are Kathy Kaye, the senior vice president of sales at the Trump Organization, and Kevin Sneddon, senior vice president and managing director of the New York operations.

Taking the podium as the event came to a close, Sneddon jokingly quoted Donald Trump’s take on his hiring: “‘You just landed the best job in real estate. Do a great job, or you’ll be fired.'”


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
Gucci at Trump Tower (Getty)
Gucci renews lease in Trump Tower
Gucci renews lease in Trump Tower
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Unions, nonprofits push NY to drop Opportunity Zone tax break
Unions, nonprofits push NY to drop Opportunity Zone tax break
Donald Trump, Manhattan District Attorney Cy Vance and Trump Tower in New York (Photos via Getty, Wikipedia Commons)
DA Vance subpoenas NYC tax agency in Trump Org criminal probe
DA Vance subpoenas NYC tax agency in Trump Org criminal probe
A photo illustration of Donald Trump at the Wollman Rink in Central Park (Getty/Illustration by Kevin Rebong for The Real Deal)
Central Park ice rinks stay open amid Trump Org contract spat
Central Park ice rinks stay open amid Trump Org contract spat
Eric Trump and 6 East 57th Street (Getty, Google Maps)
Trump Org has big retail vacancy looming
Trump Org has big retail vacancy looming
Trump Plaza in Atlantic City (Getty)
Trump Plaza in Atlantic City is demolished
Trump Plaza in Atlantic City is demolished
arrow_forward_ios

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

Loading...