Realtors are hoping that President Donald Trump’s move from the White House to Mar-A-Lago will boost prices in his flagship property in New York City.
The value of properties in Trump Tower have dipped since his 2016 election, and real estate agents are hoping they’ll rebound once his presidency ends, reported TMZ.
“Two TT units that were worth $4.3 mil and $3.5 mil before Trump’s run are now valued at just $2.495 mil and $3.3 mil, respectively,” the website reports. “We’re told it’s a similar story for units elsewhere in the high-rise.”
Some potential buyers won’t be able to ignore its association with the historically unpopular president, but some of the things that have made the building unattractive will go away when Trump leaves office.
“If Donald leaves, building security will loosen up big time — something these realtors say turns people off when they’re looking at the property,” the website reports. “Building access is a hassle … cops blocking off streets, not being able to hail a cab, and all the red tape for guests who enter the building.”
The midtown Manhattan tower was built in partnership with The Equitable and opened in 1983, and Trump bought out their stake three years later and now owns the 58-story building’s office and retail components.