Trump’s buildings are losers

Apartments at developer's properties appreciating 10 percent slower than at rivals'

New York /
Sep.September 18, 2015 09:01 AM

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


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
991 5th Avenue (Photos via Gryffindor/Wikipedia Commons and the American Irish Historical Society)
Historic UES mansion hits market for $52M
Historic UES mansion hits market for $52M
37 East 12th Street and 262 Central Park West (Google Maps, iStock)
Luxury report: Patience pays off for buyer of $20M penthouse
Luxury report: Patience pays off for buyer of $20M penthouse
(Engel & Völkers Market Center, 432 Park)
Sugimoto-curated 79th floor at 432 Park quietly hits market
Sugimoto-curated 79th floor at 432 Park quietly hits market
Atlantic City Mayor Marty Small supports Carl Icahn, who owns Trump Plaza Casino. (Getty, Marty Small via Instagram)
Carl Icahn pulls plug on auction to demolish Trump casino
Carl Icahn pulls plug on auction to demolish Trump casino
From left: Robert Zangrillo, Geoff Palmer, Tom Barrack and President Donald Trump (Getty, iStock)
Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon
Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon
arrow_forward_ios

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

Loading...