Officials mull shutting down Fifth Ave. to protect Trump Tower

President-elect doesn't want to give up his penthouse, which could be big trouble for retail

New York /
Nov.November 15, 2016 09:37 AM

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.

It’s unclear how many blocks of Fifth Avenue would be shut down, if any. [NYDN]Kathryn Brenzel 


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
From left: President Donald Trump, Blackstone's Jonathan Gray and Tishman Speyer's Rob Speyer (Getty)

Real estate execs, business leaders urge Trump to begin transition

Real estate execs, business leaders urge Trump to begin transition
Eric and Donald Trump Jr. with 1100 Pennsylvania Avenue (Photos via Getty; Trump Hotels)

Trump Org puts DC hotel sale on “indefinite hold”

Trump Org puts DC hotel sale on “indefinite hold”
Blackstone's Stephen Schwarzman and President Donald Trump (Getty)

Blackstone’s Schwarzman defends Trump on exec call

Blackstone’s Schwarzman defends Trump on exec call
(Credit: iStock)

Feds put Neoclassical architecture policy into practice

Feds put Neoclassical architecture policy into practice
Trump Tower and (inset) Henry Laufer (Google Maps, Archetron)

Democratic megadonor unloaded Trump Tower condo day before election

Democratic megadonor unloaded Trump Tower condo day before election
George Marcus, Sheldon Adelson and Stephen Schwarzman (Marcus & Millichap, Getty)

Here’s where real estate leaders put their money in 2020 election cycle

Here’s where real estate leaders put their money in 2020 election cycle
arrow_forward_ios

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

Loading...