Also, they don't like him in New York.
Just a slight miscalculation.Across the city, these are halcyon days for real estate developers.
[...]
Yet the city’s best-known landlord is missing out. Not only are the Trump Organization’s plans to develop a hotel here going nowhere, but prices are slumping for condos at Trump Tower and the Trump International Hotel and Tower.
And golfers are shunning the Trump Golf Links at Ferry Point in the Bronx, where revenue through mid-September had fallen by more than $1.1 million in the past two years, to $5.7 million, amid a 16% drop in rounds played.
In addition, the Trump Organization, a perennial leader on the Crain’s list of largest privately held companies, has fallen steeply in the rankings, to No. 40 from No. 3 last year, following the president’s disclosures to federal regulators that revealed the organization’s revenue is less than a 10th of what the firm had reported since at least 2010.
[...]
Trump historically has specialized in two sectors that appear especially saturated: hotels and luxury condominiums.
[...]
It seems unlikely that the Trump name will appear on any new condominiums soon, because the market for Trump-branded apartments in the city is cooling fast.
The average price per square foot for a Trump Tower apartment has fallen by 23% since 2015, according to The Wall Street Journal, while prices have held steady at other Midtown towers, excluding new developments. At the Trump International Hotel and Tower on Central Park West, the average price per square foot is down 24%.
[...]
Last year’s $9.5 billion in revenue reported by the organization looks preposterous in light of federal filings made by the president in the past year. Those indicate the Trump Organization generates between $600 million and $700 million in annual revenue.
Crain's
...but hey, do what you want...you will anyway.
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