To make Trump Tower safe again, law enforcement officials are considering shutting down Fifth Avenue whenever the president-elect is in town. But it could have devastating effects to the city’s top retail corridor.
The New York Police Department and the Secret Service will meet on Thursday to discuss how to secure the building when Donald Trump visits his 58th-story penthouse. The president-elect has indicated that he doesn’t want to give up the triplex, but Secret Service officials are trying to dissuade him from staying at the building — which isn’t fortified against possible terrorist attacks — when he visits New York.
According to the New York Daily News, officials are considering shutting down Fifth Avenue — the city’s retail mecca — to protect the building. Merchants in the area are already complaining that protests along Fifth Avenue have hurt business.
Sources told The Real Deal last week that stores are already expecting to take a hit during the holiday season due to the heightened security — including roadblocks and pedestrian barriers — that will be in place through at least Jan. 21. Upper Fifth Avenue commands some of the priciest retail rents in the world, estimated last year to be $3,500 per square foot.