Donald Trump worked in real estate long before he became President of the United States. He didn't build an empire, but inherited an empire from his father, Fred.
And while Trump has built and maintained real estate around the world, New York City has always been his main destination. But New York is also a capricious marketplace. And the city is now punishing Trump for his mistreatment in office.
According to a report from Business Insider:
UrbanDigs – which looked at the seven luxury Manhattan buildings that are still nicknamed Trump and three that were previously nicknamed Trump – found that even properties that used to have Trump in their name had 17% of theirs as of 2016 Have lost value. Compared to that, the total price drop per square foot in Manhattan was only 9% over the same period, ”reported Juliana Kaplan. “In 2016, the average price per square foot for seven New York properties operated by its real estate giant Trump Organization was $ 3,346, according to the report. After Trump's election and inauguration, that number dropped to $ 1,903 in 2017. by 2020 it was $ 1,619. That's a 51% decrease from the 2016 price. "
House prices have been particularly hurt since Trump sparked a riot in early January. The piece continues: "Groups, including the Girl Scouts and the City of New York, began to forge links with the Trump Organization. "
Before Trump lost the presidency in November, he announced that he would make Florida his permanent residence for tax reasons. It's pretty clear, however, that the city wouldn't welcome him back with open arms.
Todd Neikirk is a New Jersey-based policy and technology writer. His work has been featured on psfk.com, foxsports.com and hillreporter.com. He likes sports, politics, comics, and spends time with his family on the waterfront.