Quantcast
Connect with us

Trump’s toxic brand has caused Trump Tower condo prices to crash: No one wants to buy ‘in that building’

Published

on

President Donald Trump is not a popular man in his home state of New York — and condo prices at his signature Trump Tower in Manhattan are reflecting just how toxic his brand has become.

Bloomberg News reports that most of the Trump Tower condos that have gone on the market since 2016 have been sold at a lost. In fact, property records show that “several” Trump Tower condos have sold at losses of more than 20 percent.

Michael Sklar, who sold his parents’ Trump Tower condo at a loss when adjusted for inflation, tells Bloomberg that it’s very hard for condo owners to find willing buyers.

“No one wants in that building,” he explained. “The name on the building became a problem.”

In total, Bloomberg found that Trump Tower’s occupancy rate has plunged from 99 percent to just 83 percent over the past seven years, meaning it has “a vacancy rate that’s about twice Manhattan’s average.”

ADVERTISEMENT

However, the building is still staying afloat financially thanks in part to the Trump 2020 campaign committee spending in the building. According to Bloomberg, the committee “has spent more than $890,000 over the last two years to rent space in Trump Tower.”


Report typos and corrections to: [email protected]. Send news tips to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2020 Election

Democrats are on the verge of setting a ‘time bomb’ for any candidate who can defeat Trump

Published

on

If a new president takes over the White House in January 2021, he or she may quickly find that the Democratic Party that just won control of the executive branch left a loaded gun in the hands of the Republicans, who are all too eager to use it.

That should be the takeaway from reports about the budget negotiations between the House Democrats and the Trump administration. According to Bloomberg reporter Sahil Kapur, the parties are coalescing around an agreement to raise spending by $350 billion, offset that increase somewhat with about $75 billion, and extend the debt ceiling — now set to expire in the fall — to July 31, 2021.

Continue Reading

Breaking Banner

Trump’s USDA plans to take 3 million Americans off of food stamps

Published

on

The US Department of Agriculture will propose a rule on Tuesday that would strengthen restrictions on food stamp recipients -- cutting approximately 3.1 million Americans from the program, according to Reuters.

Currently, 43 U.S. states allow residents to automatically become eligible for food stamps through the Supplemental Nutrition Assistance Program, known as SNAP, if they receive benefits from another federal program known as Temporary Assistance for Needy Families, or TANF, according to the USDA.

Continue Reading
 

Breaking Banner

Teeth ‘time capsule’ reveals that 2 million years ago, early humans breastfed for up to 6 years

Published

on

Humans’ distant ancestor Australopithecus africanus had a unique approach to raising their young, as shown in our new research published today in Nature.

Geochemical analysis of four teeth shows they exclusively breastfed infants for about 6-9 months, before supplementing breast milk with varying amounts of solid food until they were 5-6 years old. The balance between milk and solid food in this period varied cyclically, probably in response to seasonal changes in food availability.

Read more: How we calculated the age of caves in the Cradle of Humankind -- and why it matters

Continue Reading
 
 
 

Copyright © 2019 Raw Story Media, Inc. PO Box 21050, Washington, D.C. 20009 | Masthead | Privacy Policy | For corrections or concerns, please email [email protected]

close-image
Join Me. Try Raw Story Investigates for $1. Invest in Journalism. Escape Ads.
close-image