Donald Trump may have thought his plan for a coup would keep him in power, but he’s finding out that the backlash extends far beyond the White House. As he hides away in his golf resort, his business (the business he made a big show of “turning over” to his sons), the value of his real estate properties has plummeted, and it’s only getting worse.
FUN FACT: The average price per square foot of a Manhattan Trump property in 2016 was $3,346.
— Democratic Coalition (@TheDemCoalition) January 27, 2021
Trump entered office owning some of the most prime real estate in New York. As it turns out, his home state now wants nothing to do with him, and it seems buyers in New York and elsewhere want nothing to do with properties that he owns, either.
According to Business Insider:
‘After a tumultuous one-term presidency, a violent insurrection by supporters, and a retirement to Florida, the Trump name has attracted some negative connotations. And his real-estate holdings are feeling the heat: According to Curbed’s analysis of a report from real-estate data firm UrbanDigs, Trump-branded Manhattan properties have lost half their value since Trump first took office.’
There is no more telling way to convey the corruption inherent in having a Trump branded property just blocks from a Trump White House than its desolation a week into the Biden era. https://t.co/72gOx7J014
— David Folkenflik (@davidfolkenflik) January 27, 2021
In fact, his properties have lost about half their value since he first took office. A review by UrbanDigs, who looked at the value of seven Trump properties and their values throughout Trump’s presidency, show that the reaction to his actions in office may leave him not only out of power and scorned by most in the political world; it may be the end of his business, as well.
‘In 2016, the average price per square foot in seven NYC properties run by his real-estate behemoth, the Trump Organization, was $3,346, according to the report. In 2017, following Trump’s election and inauguration, that figure sunk to $1,903; by 2020, it was at $1,619. That’s a drop of 51% from its 2016 price.’
— Forbes (@Forbes) January 24, 2021
In his final year in office, the year of the election and his insane claims of widespread voter fraud that ended with his supporters storming the Capitol Building to thwart democracy and reinstall their cult leader to power, the values of those properties were in steep decline.
‘UrbanDigs — which looked at the seven luxury buildings in Manhattan that still bear the Trump moniker, and three that used to — found that even properties that formerly had Trump in their names lost 17% of their value since 2016. By comparison, the overall price per square foot decline in Manhattan over the same period was just 9%.’
— CitizenWonk #DCStatehood (@CitizenWonk) January 27, 2021