No landslides for Trump. Not in 2016 in politics when he garnered 56.88% of the Electoral College vote to win the presidency. And not in 2018 in high-end New York real estate when several buildings on the upper West Side have already dropped the Trump name.
While real estate prices have softened, especially at the upper end of the market, in much of New York over the past two years, the New York Times has suggested that the Trump name on buildings around town is hurting sales. One real estate business official said, “…There’s no question Trump apartments sit on the market longer than they used to.”
Records show that Trump Towers has closed fewer transactions this year as compared to 2016 and 2017 figures. Even rentals in Trump buildings have decreased.
Nathan Tondow, a managing broker with the online brokerage firm Zumper, has studied rental prices at Trump buildings. Tondow said, “Trump buildings fetch lower rents and sit on the market longer than they did two years ago…we’ve had rental clients who didn’t want to see the buildings because they have the Trump name on them.”
Tondow explains to such rental clients that the Trump organization merely manages the buildings; the buildings are owned by other entities. But even such an explanation doesn’t change the minds of some rental clients.
True, Donald Trump is not a particularly popular political figure in New York City (Trump won 0 Electoral College votes in New York in 2016) but isn’t there supposed to be a separation between church and state when it comes to business?
Not according to one resident in a Trump building. This woman told the Times, “The reality is, it’s the best run building in the city. It’s unbelievable. Every member of the staff. There’s no better place in the world to raise a family. But, I don’t support (him)…I don’t support his policies…I’m moving to another building that does not have the Trump name on it next week”
