Trump Tower is not doing so well these days

The golden skyscraper of President Donald Trump in Manhattan is apparently the flagship property of the Trump family's global empire. But, according to a Bloomberg analysis Tuesday, Trump Tower has become an outcast of the property, with a decline in the occupancy rate of residents eager to dissociate themselves from the president's extremely tarnished mark.

"The name of the building has become a problem," said Michael Sklar, a former resident of Trump Tower, who said he "would have sold the unit to the 57th floor of his parents for 1.83 million In October, after spending $ 400,000 on the renovation of the property, his family bought it for $ 1.4 million in 2004, or $ 1.84 million after adjusting for inflation. "

In total, Trump Tower's occupancy rate has dropped from 99% to 83% over the past seven years, about twice the Manhattan average vacancy rate, according to Bloomberg's analysis. And of the 13 condos sold in the building over the past two years, at least eight of them have been sold at an adjusted loss of inflation.

"If I was looking for offices, it was a building I would like to avoid," said a market analyst at the site.

Bloomberg's analysis of Trump Tower's declining home is part of a guardian report that the property may pay $ 850,000 in annual fines over the next decade if it does not comply with New York City's new environmental regulations requiring large buildings to reduce their greenhouse gas emissions. about half of it by 2030.

As Bloomberg notes, Trump Tower is still generating profits, helped by the fact that the president has based his re-election campaign for 2020. (The two Trump presidential campaigns spent at least $ 13 million on various Trump properties in last four years). However, the building would still have more than 25% of what the financiers expected to gain when assessing the granting of a $ 100 million loan to Trump Tower in 2012.

Who could have seen it coming?