Real estate Donald Trump in Manhattan, New York, has lost half its value since the start of his presidency.
A study published by real estate website Curbed notes that «the former president's name has proven toxic to the Big Apple real estate market.» The authors of the report studied five Trump-branded buildings in Manhattan, as well as three buildings on Riverside Boulevard that previously bore his name.
The Trump Building in Manhattan, on average, cost $3,346 when he took office in 2016 per square foot. By the end of his term, the square foot was worth $1,619 — down 51.61%.
Real estate agent Mark Cohen told Business Insider that while property values are likely to rise again eventually, Trump's name is «radioactive» at the moment.
«If I wanted to take on a new project right now, I wouldn't [choose a building with] Trump's name on it,» he said.
Earlier this month, New York announced that it was severing its ties with the Trump Organization in light of the Capitol riots that killed 5 people.
Mayor Bill de Blasio said all contracts between the city and the president would be broken. This includes contracts for Central Park Ice Rinks, Central Park Carousels and Trump Golf Links golf courses.
“Let’s be clear,” De Blasio said in a statement, “incitement to riot against the US government is clearly a criminal activity.” . New York City will no longer have anything to do with the Trump Organization.»
