According to Bloomberg, Trump Tower, once Donald Trump’s flagship property, is close to the bottom in the list of luxury Manhattan properties in terms of demand.
Ever since Trump won his seat in the Oval Office, the 36-year-old building has transformed into a guarded fortress with concrete barriers and partially blocked entrances. It hasn’t seen a significant renovation in years, and, for the cherry on top, the Trump name has proven a huge deterrence for the predominantly liberal population of New York City.
According to property records, a majority of condo sales yielded losses after inflation adjustment, and several sold at losses greater than 20 percent. Meanwhile, only .23 percent of homes in Manhattan sold at a loss over the past two years, according to data provided by real-estate site PropertyShark, though those figures aren’t adjusted for inflation.
“It’s all a far cry from the days when the New York landmark attracted the likes of Michael Jackson, Johnny Carson and Steven Spielberg,” Bloomberg reported. “These days, it’s better known for a Trump campaign meeting with a Russian lawyer documented in Robert Mueller’s Russia report.”
While a small handful of Trump’s enterprises have flourished, such as his hotel in Washington D.C., many have taken huge hits following his presidency. Several have removed his name from their buildings, and his public New York golf course has seen a significant decline in popularity.
Trump is planned to give an update on his net worth within the coming days, and his annual financial disclosures are to be submitted by Wednesday.