Units at Trump’s 11 Manhattan Condo Buildings Are Still Selling at a Premium
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.
Gabby Warshawer, CityRealty.com’s director of research, said “the premium for Trump-branded condos in Manhattan compared to all other condos has actually remained consistent,” though she noted that just four years ago, his condos commanded as much as a 24 percent premium. This decline is likely attributed more to the influx of new, uber-luxury towers along Billionaires’ Row than it is to anti-Trump sentiment, though there have been some exceptions. Take for example liberal commentator Keith Olbermann, who recently sold his condo at Trump Place at a loss, tweeting “I got out with 90% of my money and 100% of my soul! Now that I’ve escaped, I can report to you that the market in NYC @RealDonaldTrump apartments is in a free fall.”
[Via MarketWatch]
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