An apartment in a building with Trump’s name will sell for less than a similar condo in the area, the New York Times reported. The most significant losses were seen in Trump Tower, where the former president announced his presidential bid.
A “bargain”
The outlet talked to Columbia University economist Stijn Van Nieuwerburgh, who examined the values of condos with Trump’s name and concluded that Trump-branded condos are considered a “bargain” in the pricey Manhattan real estate market.
Numbers based on listings
The Times’ Rukmini Callimachi collected data from CityRealty and ATTOM, a real estate listing company and a property data analytics company. The report stated that the price per square foot in seven Manhattan condos with Trump’s name “dropped 23 percent between 2013 and 2023” in value.
Trump logo appears to be bad for business
The author also found that four buildings that removed the Trump logo in late 2020 “ended the decade from 2013 to 2023 up 9 percent.”
Trump Tower’s collapse
The Times report also suggested that apartments in the famous Trump Tower on Fifth Avenue, where he announced his presidency, suffered extensive losses, with the average price per due dropping 49 percent since 2013. The report cited “Ondel Hylton, the senior director of content and research at CityRealty.”
Hylton is amazed
The director at CityRealty told The Times, “I just crunched the numbers in the past half hour, and I’m still trying to wrap my head around it.” Hylton explained that the drop includes the buildings’ age, competition among the luxury Manhattan condos, and protests outside the property.
Van Nieuwerburgh on the “value deterioration”
Van Nieuwerburgh told the publication that the analysis points out cleanly “that it is the Trump brand that is responsible for the value deterioration,” He added that removing the former president’s name increases the property’s value.
Eric Trump commented
The Times quoted Trump’s second oldest son saying, “Data can be manipulated to tell any story you want, but the fact remains that our buildings sell for the highest prices per square foot of any properties in the world. That is undeniable.”
The Times disagrees
The Times noted that the Trump condo sold for more than $4,600 per square foot, while a penthouse in the West Village sold for more than $11,400 per square foot. But, not all sales with Trump’s logo are doomed, as Eric Trump said, “This year alone, Trump International Hotel & Tower New York closed on a $17 million unit, exceeding the prices at Time Warner, Essex House and the most prestigious properties in the city.”
Van Nieuwerburgh’s findings
Van Nieuwerburgh commented that overall, there was a 25 drop in the properties carrying Trump’s logo from 2013, when they were at their peak, saying, “It’s huge.” The report’s focus was solely on Manhattan, and it did not involve Trump’s properties outside this area.
The Trump brand
During the fraud trial, the former president talked about the value of the Trump brand. According to the Times, that value, at least in Manhattan, dropped 23 percent between 2013 and 2023, while another analysis by a property data tracking company evaluated the decline to be 17 percent.
“Something of a fraud”
The Forber reporter Dan Alexander focused on Trump Tower since it was an essential part of AG James’ fraud case. The reporter found the building to be “something of a fraud” even before Judge Erogan’s ruling, which ordered Trump to pay $350 million plus interest.
But Trump has to pay more
Trump already owed an additional $110,000 for refusing to comply with a subpoena in the civil fraud case and $15,000 for violating a gag order. He also owes former Elle columnist E Jean Carroll $83 million in the defamation case that was concluded in 2024. Trump already owed her $5.5 million in 2023 after the jury found him liable for assault and defamation.
Read the full report here.
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