Business & Tech
NYC Trump Condos Plummet In Price: Report
Manhattan residents don't appear to be thrilled to live in condos branded with the president's name.
NEW YORK, NY — In New York City, housing costs only seem to go up. This year, there's an important exception to that rule: Trump condos.
A real estate research firm reports that prices for condos in Trump buildings in Manhattan fell in the first year of the Trump presidency.
CityRealty says the average price per square foot for condos sold in Trump-branded buildings in the borough fell 7 percent in the 12 months through November compared to the year earlier. It also found that prices dropped in eight of 11 Trump buildings.
Find out what's happening in New York Cityfor free with the latest updates from Patch.
The average price per square for all Manhattan condos also fell, but much less — just 1 percent.
CityRealty cited less allure for the Trump brand, overall, as well as competition from luxury condos in newer buildings.
Find out what's happening in New York Cityfor free with the latest updates from Patch.
The Trump Organization did not respond immediately to a request for comment.
Photo by Michael Loccisano/Getty Images for Trump SoHo
