Since then, as Donald trump has entered a post of the President of the United States, the cost of apartments in buildings with his name plummeted. Some apartment owners even want to change the names of buildings, writes The Hollywood Reporter.
One of these people – Lawrence Weiss, owner of an apartment in Trump Palace at 200 East 69th Street in new York, a former partner of one of the world’s largest investment banks, Goldman Sachs.
Weiss sent out to other owners of apartments in Trump Palace the letter of offer to act to remove the trump name from the name of the building. Weiss said that trying to sell your four-bedroom penthouse with an area of 3,600 square feet within two years. And if it used to cost 15 million dollars, now its price has dropped to 8.9 million.
«We, the owners, have the right to change the name, by the vote of two-thirds of the people. I’m asking you to support my initiative to remove trump’s name and change of legal address with the «Trump Palace Condominium» «200 E 69th St. Condominium». For me it’s just business. Our apartments are worth more than trump’s name», the letter says Weiss.
Trump Palace is a 55-storey tower in Upper East side. Dwelling there vary from one-bedroom apartments to penthousesoccupying an entire floor with 360-degree views.
According to Weiss, he sent out 260 letters and has received 56 answers: the 32 owners voted for the name change and 24 against.
However, brokers argue that the decline in prices is not only affected by trump’s name, as the oversupply of luxury condos in new York.
