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WATCH: TRD discusses ruling that condo owners can remove Trump name
Condos at buildings with president's name have been selling for less than comparable units
The Real Deal’s digital editorial director Hiten Samtani appeared on Fox 5 Thursday to discuss a judge’s recent ruling that residents of Trump Place at 200 Riverside Boulevard can vote to remove the president’s name from their building.
Condominiums at buildings branded with the Trump name have been selling for 6.6 percent less than other similar properties, according to Fox, and Samtani said this did not surprise him, given all the controversies surrounding Donald Trump.
“Now, when you associate Trump with a lot of other things that are not to do with luxury—there’s an investigation going on, there’s a lot of political divisiveness associated with his name—that kind of thing can actually impact prices negatively,” he said.
Residents of the condo went to court requesting a judgement on whether they could remove the Trump name from the building after Trump Organization attorney Marc Kasowitz sent a letter to the board threatening them with legal action if they did so. Judge Eileen Bransten ruled in favor of the tenants, determining that the property’s licensing agreement did not mean that residents had to use Trump’s name.
A Trump Organization spokesperson told TRD that Bransten’s decision had “no precedent in New York” and that they are “confident that the appeals court will conclude otherwise.”
Watch the full Fox segment above. – Eddie Small