The 36-year-old building has been turned into a fortress since Trump won the presidency, ringed with concrete barriers and the two main entrances partially blocked off. Most condo sales have led to a loss after adjusting for inflation, property records show. By contrast, across Manhattan, just 0.23%
-- Trump Tower, once the crown jewel in Donald Trump’s property empire, now ranks as one of the least desirable luxury properties in Manhattan.
While some corners of Trump’s business empire have thrived, such as his Washington D.C. hotel, others have suffered from his high unpopularity. Rounds of golf are down at his public course in New York, a clutch of once Trump-branded buildings have torn his name off their fronts, and an ambitious plan to launch a new mid-tier hotel chain across the country fizzled.
"If I were looking for office space, that would be a building I’d want to avoid," said Edward Son, until recently a market analyst for CoStar Group Inc. “The luxury market is softening,” said Matthew D. Hughes, a Manhattan-based broker at Brown Harris Stevens. “But it’s rare that someone owns an apartment here for 10 years and takes a loss.”
Located just two blocks from Central Park, Trump built his namesake tower in 1983, complete with a 60-foot waterfall and mounds of pink Italian marble.
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