Sunday, June 20

Bargain hunters take advantage of Trump-owned property price slump

The passage of Donald Trump for the presidency of the United States greatly affected their businesses.

TIMOTHY A. CLARY / Getty Images

It was once synonymous with success and exclusivity, but today that the Trump last name appears outside a building can mean a bargain.

It is difficult to know what Donald Trump thinks today after being president of the United States, if he is satisfied or if he regrets the position that he assumed for four years and that changed his destiny.

What is certain is that the value of their properties today are being the subject of bargains that are taken advantage of by people who know that they are saving very good amounts and that they are paying less than what the original buyer paid.

The five gold letters that once attracted the rich and famous willing to pay a premium to live in a building with the Trump name are now so controversial that many people who took advantage of the bargains refused to allow their names to be quoted in the Associated Press investigation, concerned that boycotts against the former president could affect them.

A few years ago developers used to pay millions to use the Trump name, but today bargain hunters are coming to take advantage of their building prices. that have fallen to levels not seen in more than a decade, a factor that insiders attribute to a combination of the polarized image of the former president and the Covid-19 pandemic.

The Associated Press found that the prices of many condos and hotel rooms owned by Tump and available for purchase have dropped by a third or more. A fall that exceeds that of many similar buildings, and that represents hundreds of thousands or even a million dollars less than what Trump would have paid years ago.

Lou Sollecito, a car dealer who bought a two-bedroom apartment overlooking the Empire State Building, paid $ 3 million, almost a million less than the seller paid in 2008. “Fifty percent of the people would not want to live in a Trump building for any reason … but there are also guys like me,” said Sollecito, who called his acquisition “a super buy.”

“They are giving them away,” said Lane Blue, who paid $ 160,500 in March for a studio at Trump’s tower in Las Vegas, $ 350,000 less than the seller paid in 2008. This was his second purchase and Blue is already thinking of a third to take advantage of the bargains.

Nilufar Kabir acquired property in Trump’s Chicago condo-hotel in February for $ 680,000, almost a fifth less than what the seller paid. “It’s a bargain,” said the happy owner, “We can see the river. We can see the lake. It has a view of the center ”.

With AP information

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