Since then, as Donald trump was elected President, the occupancy ratio of real estate that bears trump’s name, has dropped sharply, since the structure is one of the least desirable in new York.
According to a report published by Bloomberg on Tuesday, with 2012 occupancy rates for the Trump Tower fell from 99% to 83%.
Documents obtained by Bloomberg, show that after the 2016 election sold over a dozen apartments. According to the history of transactions, of 9 apartments 8 was sold, adjusted for inflation.
Michael Sklar, told Bloomberg: «Nobody wants to live there.» Last year, Sklar sold his parents ‘ apartment for only $1.8 million When his family acquired the property in 2004, it cost $1.4 million Then they spent $400 million to upgrade the apartment.
Sklar explained that «the name of the building has become a problem», and additional security measures enacted after the election of President trump, complicated life in Trump Tower.
“the past 2 years have been brutal. Most Trump Tower condo sales led to a loss, several more than 20%. Across Manhattan, just 0.23% of homes sold at a loss.
Tower’s occupancy rate has plunged over the last seven years to 83% from 99% — a vacancy rate twice Manhattan’s average” https://t.co/7Vj4pBbhZ2
— John Harwood (@JohnJHarwood) May 14, 2019
Trump led his campaign 2016 from this building, and after the inauguration in January 2017 first lady Melania trump and son Barron trump lived in the building for another 6 months. According to NBC, the President visited the Trump Tower more than a dozen times already after he occupied the Oval office.
According to the poll, conducted by Quinnipiac University, new Yorkers don’t approve of trump as President. The survey, conducted from March 27 to April 1, has determined the opinion of more than 1,000 voters living in new York. It turned out that 71% of respondents disapprove of the work of trump, while 26% approve of his actions. Also 81% of the voters of Republicans approve of the actions of the President, and every other group of respondents did not approve.
According to Bloomberg, Trump Tower also can’t fill more than 40 thousand square feet of vacant commercial real estate. Office space is not occupied, despite the below-average prices for Manhattan.
