Biff_Poindexter
Diamond Member
Trump-Branded Buildings in Manhattan Have Lost 21 Percent of Their Value
An indication that the gold-plated name has become a toxic asset.
www.curbed.com
"It appears that people simply don’t want to live in a Trump-branded building anymore: Trump-branded properties in Manhattan have lost half their value since Trump took office, according to NYC real-estate data firm UrbanDigs. Even properties that formerly bared Trump’s name are feeling the pinch, losing about 17 percent of their value, compared to a 9 percent drop for Manhattan as a whole. The average price per square foot of a Trump property in 2016 was $3,346. After his election and inauguration, it immediately dropped in 2017 to $1,903, and in 2020 it sunk again, to $1,619. With the days of earning a quick buck by slapping his name on a random product long, long gone, the money is going to have to come from somewhere for Trump, and quickly. The Washington Post reported last week that various Trump properties lost more than $120 million in revenue in 2020, and Trump owes an estimated $340 million in loans coming due in the next few years."
The good thing is, Trump can claim this loss on his taxes as he is used to doing; since he is very familiar with claiming losses. Also, due to COVID, I am sure real estate across the board has suffered -- just not at the rate that Trump's properties have...Hopefully when Trump supporters are done storming state and federal capitol buildings; they can storm some of these leasing offices and rent out some of these properties and give Trump some business...