The numbers are in. Trump properties have lost their appeal as Manhattan luxury condo sales experience an overall dip in pricing. The former president’s term in office may have done some damage to his Manhattan real estate empire based on steep drops in sales prices since 2016.
Trump properties experienced larger dip in price than its Manhattan counterparts
The Manhattan luxury condo market took a hit during the pandemic, but prices had already been declining steadily over the past four to five years. The Trump brand seems to be bearing the brunt of this trend. According to our analysis of Trump property sale listings in 2016 and 2020 compared to similar luxury condo building listings within the same timeframe, Trump’s properties have taken a much bigger hit.
Trump’s Manhattan luxury condo prices were down 20 percent from 2016. This is a considerable drop compared to Manhattan luxury condo buildings overall, which only experienced a 13% dip in price.
Trump buildings analyzed:
- Trump World Tower (845 United Nations Plaza)
- Trump Parc (106 Central Park South)
- Trump Tower (721-725 Fifth Ave.)
- Trump Palace (200 East 69th St.)
- Trump Park Avenue (502 Park Ave)
- Trump International (1 Central Park West)
- Trump Place–formerly (120 Riverside Blvd., 200 Riverside Blvd., and 220 Riverside Blvd)
Many Trump units are advertising deep discounts
If you’ve been eyeing a Trump property, now may be the time to pounce. Many of his Manhattan luxury buildings have listings with significant price cuts. Some are advertising hefty discounts like this property at Trump World Tower with an eye-popping $300K price cut.
Trump property listings are also spending a longer time on the market, and it’s not uncommon to see listings that have been sitting for 100 days or more.
Additionally this 3-bedroom, 3-bathroom condo at Trump World Tower has been on the market for 168 days.
Trump brand has lost its luster
As Manhattan luxury condos experience a decline in buyers, particularly in Midtown, the appeal of Trump-branded properties seems to be waning. They now carry the same prestige as any other high-rise condo building in Manhattan. While the brand may no longer be as strong a selling point as it used to be, buyers may still find the properties a good investment.