Earlier this week, Political Tribune reported that one of the condominium complexes bearing Donald Trump’s name in Palm Beach, Florida had unanimously voted to toss the former President’s moniker from their building in the wake of the Capitol insurrection at the hands of Trump’s rabid base — a move that followed suit with several other Trump-branded properties to do the same throughout his presidency in an effort to avoid vandalism.
But now it seems that his thwarted desire to solidify his legacy in nameplates on buildings isn’t Donald’s biggest fish to fry.
According to NYC real-estate data firm, UrbanDigs, the value of Trump-branded properties have plummeted by half since the former real estate mogul took office back in 2017. Evidently, the reluctance to live in a building bearing the name of the guy that tortured this nation for four long, hard years has gone so far that it’s even affecting properties that used to bear the Trump name but don’t anymore, dropping in value by a staggering 17 percent compared to 9 percent for Manhattan as a whole.
A report on the drop in value from Curbed reads, “The average price per square foot of a Trump property in 2016 was $3,346. After his election and inauguration, it immediately dropped in 2017 to $1,903, and in 2020 it sunk again, to $1,619. (Manhattan properties as a whole held steady around the 2016 price of $1,995, before dropping slightly to $1,815 in 2020.) Trump’s properties, which normally fall in the luxury category, have now fallen well below the citywide average.”
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The complexes sell individual condos inside of the building, so the financial hit of the drop in value will primarily drop in the laps of condo owners rather than Trump himself. However, it just serves as further proof of just how toxic the Trump name and brand has become in the wake of his disastrous presidency, and it’s not just affecting properties that bear his moniker.
Trump’s licensing business, which saw a massive boom on the heels of his time on The Celebrity Apprentice, reportedly hit rock bottom during his time in the White House and shows no signs of recovering. After the January 6th insurrection against the Capitol building, the trend has only gotten worse for the Trump brand. In a major blow to Donald’s ego, that allegedly affected him even more than losing the election did, the PGA pulled the PGA Championship from Trump’s New Jersey golf course and multiple entities — such as the City of New York and the real estate firm Cushman & Wakefield — have announced that they will no longer be doing any business with the former President. Even before Donald’s rabid supporters attacked the Capitol building earlier this month, the Trump Organization already found it impossible to sell the Washington D.C. Trump Hotel, due in large part to the stipulation that the new owners would be required to keep the Trump brand name.
Donald Trump spent a very long time making his money by slapping his brand name on whatever random product or building they pulled out of a hat. But now that he’s shown his true colors from the power of the People’s House for four miserable years, it’s clear that his get rich quick schemes will no longer prove so successful for him, as no one wants to be associated with him, even in name. This could serve as a serious and pertinent issue for the former President, as the Washington Post just recently reported that Donald’s various properties saw a staggering $120 million loss in revenue last year and he owes a sickening $340 million in loans that are coming due at a rapid rate.
Featured image via Wikimedia Commons/David Shankbone