The Real Deal New York

Trump’s New York business could have made more than $100M last year

Trump International Realty income was down 36% in 2017
By Will Parker | May 17, 2018 03:00PM

President Donald Trump, Wollman Rink and 40 Wall Street

President Donald Trump, Wollman Rink and 40 Wall Street (Credit: Getty Images and Wikimedia Commons)

President Trump’s New York real estate operations could have grossed more than $100 million last year, according to his annual financial disclosure, which was released on Wednesday.

It’s impossible to know exactly how much money was made because some properties give ranges for income, such as “>$5 million,” but others, like the residential real estate brokerage Trump International Realty, give exact sums.

The brokerage, which has struggled to make a name for itself in the crowded New York market, made just under $2.1 million in commissions last year, a 38 percent drop from the 2016 financial disclosure report, which covered a 16 month period.

The three properties Trump has under contract with the City of New York — Wollman and Laser Rinks, Trump Ferry Golf Course and the Friedsam Carousel — together brought in $16.4 million in 2017.

For many of Trump’s larger assets, however, no specific totals are given. 40 Wall Street, Trump Tower, Trump World Tower and 1290 Sixth Avenue all brought trump greater than $5 million, according to the disclosure, but how much more is not known.

Other properties that brought Trump money in the range of $1 to $5 million include Trump Park Avenue, Trump Parc East and Trump Plaza.

Then there’s the money Trump made on management fees. Trump Corporation and Trump International Hotels Management earned $15.6 million and $17.1 million on management fees, respectively, though how much of that came from New York proprieties is unclear. Last year, the Trump Organization managed the Trump International Hotel and Tower and Trump Soho hotels in Manhattan, though it agreed to a deal to end its licensing arrangement at Trump Soho late last year.

Additionally, Trump made between $1 million and $5 million each from two companies invested in the Spring Creek Towers affordable housing complex in Brooklyn, more commonly known as Starrett City. The complex sold last month for $905 million, which could earn Trump an estimated $36 million, according to ABC.