Donald Trump

Amid declining bookings, new Trump hotel brand drops his name
October 17, 2016

Amid declining bookings, new Trump hotel brand drops his name

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Though sales at Donald Trump's Manhattan residential buildings are still selling at a premium, national real estate and business at his hotels are different stories. Politico reports that the Trump Organization--the umbrella under which all his self-branded ventures fall, from his clothing line to golf courses--has dubbed its newly launched hotel line Scion, clearly void of his moniker, but meaning "descendant of a notable family." Trump Hotels CEO Eric Danziger said in a press release, "We wanted a name that would be a nod to the Trump family and to the tremendous success it has had with its businesses, including Trump Hotels, while allowing for a clear distinction between our luxury and lifestyle brands." Though this may be true, it may also have something to do with the fact that, according to travel company Hipmunk, hotel bookings at Trump properties were down 58 percent in the first half of the year.
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A Trump empire built on $885 million in tax breaks has cost the city a fortune
September 19, 2016

A Trump empire built on $885 million in tax breaks has cost the city a fortune

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If you've followed Republican presidential nominee Donald J. Trump's gold-plated real estate career, you might already know how much of his success has been due to his family's extensive political connections–and generous tax breaks, grants and incentives from the government and taxpayers. In case you haven't read Trump's 1987 bestseller "The Art of the Deal," the New York Times illuminates the role that hundreds of millions in tax breaks have played in the Trump empire. While Trump may not be much different from other developers in seeking tax breaks, the candidate vociferously paints a picture of a rigged system and a fixed game. But these very fixes have enabled him to achieve a net worth estimated at 4.5 billion and the opportunity to indulge a run for the nation’s highest office.
So what's been going on here?
Naked Trump statue returns, spotted near Holland Tunnel

Photo by NYC NewsChannel via Twitter

September 16, 2016

Naked Trump statue returns, spotted near Holland Tunnel

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After an artists’ collective exposed the nation last month to life-sized nude Donald Trump statues in cities across the U.S.—including New York City, San Francisco, Los Angeles, Seattle and Cleveland—they have reappeared in public. The “anarchist” art collective, Indecline, placed the statues on a building rooftop near the Holland Tunnel in New Jersey, and on a […]

One month after anti-Trump sale, Keith Olbermann’s former Trump Palace condo returns for $3.9M
September 2, 2016

One month after anti-Trump sale, Keith Olbermann’s former Trump Palace condo returns for $3.9M

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Liberal commentator Keith Olbermann listed his Trump Palace condo on the Upper East Side for $3.9 million in April, publicly citing his opposition to the presidential candidate. Even though he took a loss on the sale (it went through for $3.8 million in July, but he bought it for $4.2 million in 2007), he couldn't hide his relief: "I feel 20 pounds lighter since I left… If they had changed the name of it to something more positive like Ebola Palace I would have happily stayed." Now, just a month after Olbermann's tweet that he was "FREEEEEEEEE!" and "got out with 90% of my money and 100% of my soul!" the 40th floor spread is back on the market for $3.9 million. As LLNYC reports, the buyer was Syrian businessman Albert Nasser, who has very different reasons for unloading the condo.
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Like father like son: The Trump legacy of housing discrimination
August 29, 2016

Like father like son: The Trump legacy of housing discrimination

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Black potential tenants who just wanted a decent place to live were routinely turned away at the Trump family’s Queens housing complexes and others. Housing activists and equal housing organizations took note, and in 1973 Trump Management was sued by the Justice Department for discrimination. Some of those tenants who stood firm remember the indignities all too well. The New York Times took a look at the early days of the Trump empire, when Donald's father, Fred C. Trump, built and managed middle-income residential complexes like the Wilshire Apartments in Jamaica Estates, Queens. A former employee of the elder Trump tells the Times that when receiving applications from potential tenants who happened to be black he was told, "Take the application and put it in a drawer and leave it there."
Get a closer look at the Trump legacy
Donald Trump quintuples rent on his own campaign office now that he’s seeing donations
August 23, 2016

Donald Trump quintuples rent on his own campaign office now that he’s seeing donations

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Now that he's finally raking in funds from donors as opposed to cheaply self-funding his own campaign, Donald Trump is loosening the purse strings. The first order of business comes at his very own Trump Tower campaign headquarters, where he's nearly quintupled the monthly rent. According to a Huffington Post review of Federal Election Commission filings, his campaign was paying $35,458 a month from last summer until up March. But in July, when the donations started coming in, that skyrocketed to $169,758. This came with a reduction of paid employees and consultants, from 197 to 172.
What's going on?
The Real Estate Loopholes That Let Donald Trump Look Penniless on Paper
August 12, 2016

The Real Estate Loopholes That Let Donald Trump Look Penniless on Paper

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As chatter surrounding Republican presidential candidate Donald Trump's refusal to make his tax returns public grows louder, the New York Times explains what all the fuss is about, pointing out that while he's under no legal obligation to open up the books to public scrutiny, every presidential candidate has chosen to do so since Richard Nixon. Despite the hundreds of millions in gross revenue from his vast real estate holdings, there's a good chance that Trump has paid little–perhaps even zero–federal income tax in past years. The interesting point is that technically the candidate hasn't done anything "wrong," but rather is in the business of doing business, and that business is real estate. The opportunities that real estate can provide for the wealthy to legally avoid forking over the taxes that their incomes would otherwise dictate they pay are numerous, from hiding behind LLCs to swapping real estate purchases to avoid paying taxes.
Get the full scoop
Donald Trump’s Poor Real Estate Investments Depleted His Wealth Threefold
August 5, 2016

Donald Trump’s Poor Real Estate Investments Depleted His Wealth Threefold

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Earlier this week, Donald Trump warned Americans not to invest in the stock market, reiterating his prediction that a "massive recession" is upon us. This is despite the fact that he's admitted to never being one for stocks. But when it comes to real estate, his investments have been plenty, though an analysis in the Washington Post shows us that quantity does not equal quality in this case. In fact, "had his portfolio kept pace with the real estate market over the past 40 years, he would be worth about three times as much today."
Get all the stats
Trump Opponents Plan to Build a 200-Foot Wall Outside the Donald’s Midtown Buildings
August 4, 2016

Trump Opponents Plan to Build a 200-Foot Wall Outside the Donald’s Midtown Buildings

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All anti-Trumpers, mark your calendars for August 30th, as this is the day that a determined group of opponents plans to build a quarter-million pound, 200-foot-long sandbag wall across from Trump Tower. Designers David Haggerty and James Cazzoli have already received permits from the Central Park Conservancy (the wall will go up at West 59th Street and Avenue of the Americas, four blocks from Trump Tower and three blocks from the Trump International Hotel) and they've now launched an Indiegogo crowdfunding campaign called "Wall in Trump" to raise the $60,000 it'll take to make this vision a reality.
Get all the details
In the 1980s a Group of Feisty Tenants Blocked Evictions by Donald Trump
July 27, 2016

In the 1980s a Group of Feisty Tenants Blocked Evictions by Donald Trump

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It's no secret that Donald Trump has engaged in some shady real estate dealings over the years, from his fraught attempt to own the Empire State Building, to the "public" gardens at Trump Tower that allowed him to build taller, to a lost battle with China over two major office buildings (not to mention his many bankruptcies). But there was at least one snafu that he wasn't able to weasel himself out of, and it was all thanks to a group of feisty residential tenants. In the early 1980s, Trump planned to evict rent-controlled and rent-stabilized tenants from 100 Central Park South (now known as Trump Parc East) and build a larger tower on this site and that of the adjacent Barbizon Plaza Hotel. He hired a management firm that specialized in emptying buildings, and they began eviction proceedings. After claiming reduced services, a lack of repairs, and overall harassment, the tenants decided to fight back, and in the end 80 percent of them remained, leading to this revelation by the Donald: "What I've learned is that the better the location and the lower the rent, the harder people fight. If I were a tenant, I'd probably be a leader too."
Get the full story here
Units at Trump’s 11 Manhattan Condo Buildings Are Still Selling at a Premium
July 22, 2016

Units at Trump’s 11 Manhattan Condo Buildings Are Still Selling at a Premium

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Historically, the Trump brand has boosted sales prices at Manhattan condos. Since 2005, units in the Donald's buildings have sold for an average of 31 percent more than other NYC condos. But with his beyond-contentious presidential run, it's been unclear if his real estate empire would take a hit in a city where 70 percent of registered voters are Democrats. New data brought to us by MarketWatch, however, shows that he's "still king of New York." According to an analysis by CityRealty.com of 2016 sales data at Trump's 11 Manhattan condos, these units sold for an average of $1,974 a square foot, compared with $1,873 for all other condos, a five percent advantage that was also echoed in 2015.
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Jamaica Estates Home Where Donald Trump Grew Up Asks $1.65M
July 15, 2016

Jamaica Estates Home Where Donald Trump Grew Up Asks $1.65M

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A common question about Donald Trump is "Where did he come from?" and this new listing for his childhood home in Queens may be one piece of the puzzle. Newsday reports that the Jamaica Estates home in which the presidential hopeful lived as a young boy has hit the market for $1.65 million. The six-bedroom tudor home at 85-15 Wareham Place is listed as his address on his 1946 birth certificate (he was born at nearby Jamaica Hospital) and is located in an affluent enclave where the average sales price is around $2 million according to DNAinfo.
More on Trump's beginnings
Trump vs. Clinton: How the Design of Their Merchandise Stacks Up
June 29, 2016

Trump vs. Clinton: How the Design of Their Merchandise Stacks Up

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On the political front, Hillary is racking in donation dollars, while Donald Trump's campaign had a mere $1.3 million to its name as of May 31st. But what about their swag? T-shirts, mugs, bumper stickers, tote bags. Sure, online purchases won't sway either campaign significantly, but it's interesting to look at how the polar-opposite presidential candidates are marketing themselves through merchandise. 6sqft compared the goods from both camps, and found that while Hillary's merchandise is much more colorful, playful, and plentiful, and even features designer collabs, the Donald sticks to his message and caters to a very specific audience.
See how the merch stacks up
Donald Trump’s Secret ‘Public’ Gardens Gave Him Extra Height at Trump Tower
June 20, 2016

Donald Trump’s Secret ‘Public’ Gardens Gave Him Extra Height at Trump Tower

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In light of his media-circus presidential campaign, there seems to be endless exposes about Donald Trump's past real estate drama. From his failed attempt to own the Empire State Building to a lost battle with China over two bi-coastal skyscrapers, the Donald's development empire has very often skirted the rules. The latest saga dates back to 1979, when, as Crain's uncovers, Trump struck a deal with the city for a zoning variance to build an extra 200,000 square feet, or 20 stories, at Trump Tower. In return, he agreed to create a public atrium, as well as 15,000 square feet of public gardens. But these gardens, which yielded almost all of the 244,000 square feet of office and residential space that Trump still owns in the tower (worth roughly $530 million), are hidden, hard to access, and not maintained.
The full story, right this way
Donald Trump’s Stake in Two Major Towers Came From a Lost Battle With China

1290 Avenue of the Americas in NYC (L); 555 California Street, formerly Bank of America Center, in San Francisco (R); Images courtesy of Vornado

June 1, 2016

Donald Trump’s Stake in Two Major Towers Came From a Lost Battle With China

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When Donald Trump made an attempt to own the Empire State Building, he partnered with a foreign real estate investor, in this case from Japan. But it ended in a lawsuit and a public smear campaign before he ultimately sold back his stake. A similar turn of events surrounded his dealings with another high-profile Midtown building and related San Francisco tower; you may recall this quote from the day he announced his candidacy: "I beat China all the time. I own a big chunk of the Bank of America building and 1290 Avenue of the Americas that I got from China in a war. Very valuable." As the Times explains, the battle may not have gone down quite like the Donald says, with him schmoozing his way to the top and eventually waging a losing legal battle.
The full story ahead
First Mansion Donald Trump Ever Owned Now Selling for $45M
May 10, 2016

First Mansion Donald Trump Ever Owned Now Selling for $45M

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When Donald Trump was rising up in the real estate ranks in the early '80s (and when he was still a Democrat), he and then-wife Ivana were looking for their first "trophy mansion." In 1982, they found it in this 5.8-acre Greenwich, Connecticut estate, paying $4 million for the home on its own peninsula. At the time, Trump was busy refurbishing the Plaza Hotel, so he and Ivana infused their new home with the same ornate style of gold leaf, massive chandeliers, and moldings galore. When the couple divorced in 1991, Ivana got the mansion (among many other properties and cash), but she sold it seven years later for $15 million to owners who made the property even more opulent, adding an indoor lap pool, sauna, tennis courts, and a 4,000-square-foot guest suite addition. These owners listed the property back in January for $54 million, but it's now gotten a price chop to $45 million, according to Top Ten Real Estate News.
Live like the Donald
Trump’s Flubs: The Donald’s Failed Attempts to Erect the World’s Tallest Building in NYC
April 26, 2016

Trump’s Flubs: The Donald’s Failed Attempts to Erect the World’s Tallest Building in NYC

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Presidential candidate Donald Trump's aggressive tone and occasional outlandish statements have dominated the conversation in the Republican primaries, and today is sure to be no different. Though his supporters feel that he's a shoo-in, his real estate track record hasn't always resulted in success. Take for example his fraught attempt to own the Empire State Building, which ended in lawsuits and public shaming, or his $80 million loss on the Plaza Hotel, which resulted from his near bankruptcy in the '90s. In addition to these public debacles, the developer-turned-showman-turned-politician has envisioned at least three of the world's tallest buildings in New York over the years, which makes sense for a man who glories in superlatives and for whom every project is a flamboyant gesture. In honor of the Donald's never-ending presence, 6sqft decided to take a look at these never-realized, sky-high proposals, which include the New York Stock Exchange Tower, Television City Tower, and 10 Columbus Circle.
Get the story behind all these failed attempts
Donald Trump’s Failed and Fraught Attempt to Own the Empire State Building
April 18, 2016

Donald Trump’s Failed and Fraught Attempt to Own the Empire State Building

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In 2000, shortly after ending his first presidential run, Donald Trump was asked for what he would like to be remembered. He responded, "I'd like to own the Empire State Building," adding that it would make him "New York's Native Son." As Crain's recalls, he came awfully close to renaming the iconic tower the "Trump Empire State Building Tower Apartments." For nearly a decade, Trump had a 50 percent, no-cost stake in the building, but he lost it when he attempted a hostile takeover of the structure in the late 90s.
Read about the entire saga
Keith Olbermann Lists Trump Palace Condo for $4M in Opposition to Presidential Candidate
April 12, 2016

Keith Olbermann Lists Trump Palace Condo for $4M in Opposition to Presidential Candidate

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CityRealty recently took a closer look at if and how Donald Trump’s divisive rhetoric is affecting his real estate empire. They found that, despite how polarizing he is a presidential candidate, it's unlikely that anything will change thanks to an established trust in his brand and the city's current supply and demand status. But there's at least one New Yorker who disagrees, and he's taken a bold step to prove it. The Wall Street Journal reports that liberal commentator Keith Olbermann has listed his Upper East Side condo in the Trump Palace for $3.9 million in opposition to the presidential candidate. Though he's taking a loss on the listing price (he bought the 40th floor pad for $4.2 million in 2007, near the height of the market), he said "I feel 20 pounds lighter since I left... If they had changed the name of it to something more positive like Ebola Palace I would have happily stayed."
But what does Mr. Trump have to say?
‘Eloise From Hell’ Spent 35 Years in the Plaza for $500/Month, Until Donald Trump Came Along

Illustration by Hilary Knight, courtesy of Simon and Schuster

March 28, 2016

‘Eloise From Hell’ Spent 35 Years in the Plaza for $500/Month, Until Donald Trump Came Along

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Remember the story of Herbert J. Sukenik, the famous Central Park West "hermit holdout?" Developers paid the rent-controlled curmudgeon $17 million and gave him a free massive pad overlooking the park in a legendary buyout. His female counterpart might be one Fannie Lowenstein, whom none other than Donald Trump is said to have ended up bestowing a sprawling suite in the venerable Plaza Hotel at 1 Central Park South, complete with a Steinway grand piano and maid service. For zero dollars a month. For life. Here’s how the story of the woman the hotel staff referred to as “the Eloise from Hell” became yet another Manhattan rent regulation legend, as told by Vice.
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The Plaza Reportedly Headed to Foreclosure Auction Next Month
March 17, 2016

The Plaza Reportedly Headed to Foreclosure Auction Next Month

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The Plaza, New York City's iconic 109-year-old hotel and residence (formerly known as the Plaza Hotel) at 1 Central Park South will head for the auction block next month, says Bloomberg Business. An unnamed source claims the storied hotel will be offered in a foreclosure auction on April 26 along with the Dream Downtown hotel in Chelsea. The two mortgages total about $500 million, according to the report.
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Donald Trump’s NYC Properties Owe the City $27K in Unpaid Fines
March 7, 2016

Donald Trump’s NYC Properties Owe the City $27K in Unpaid Fines

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Donald Trump's fellow Republican presidential candidates have been focused on him releasing tax documents, but since he claims he's not in the position to do so since he's been audited, this little tidbit might make for some good temporary fodder -- Trump's luxury Manhattan properties owe the city for 19 unpaid violations that have amounted to $27,536 over the past 12 years. I Quant NY scoured the city's building records to find that since 2000, at least 14 of his Manhattan properties have received 460 separate violations, totaling $304,165 in fines. Sure this may be a drop in the bucket for the GOP frontrunner, but it's the lack of compliance that seems troubling, especially since only 6 percent of the instances were dismissed. And 2015 had the most violations to date, with 62 separate fines for "Failure to Maintain an Elevator."
Get the rest of the details
For $23 Million You Can Be Donald Trump’s Downstairs Neighbor
February 3, 2016

For $23 Million You Can Be Donald Trump’s Downstairs Neighbor

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A sprawl-o-rama of a penthouse a few floors below the Donald’s Trump Tower apartment is on the market for $23 million, but you’re paying for dizzying views and a palatial floor plan, not proximity to the building’s progenitor–though he did once own the apartment back when it was home to his mom and pop. It’s also rumored (according to Page Six) that Trump rented the pad out to his pal Michael Jackson and his new bride Lisa Marie Presley for $110,000/month back in the day, so you’ve got all sorts of party tidbits to go with your ridiculously enormous apartment. And if your dream is to re-live the '80s like a boss (and by that we mean nonagenarian dowager), the 3,725-square-foot, four-bedroom pad is ready for your key in the door. Otherwise you might want to do a little renovation.
See the whole spread
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