The brokerage recently sent an email blast to consumers with the subject line: “Fifth Avenue Buyers Interested in Secret Service Protection?” Douglas Elliman used the hook to advertise a 1,052-square-foot condo on sale in the building for $2.1 million. The email flyer went on to describe the U.S. Secret Service as Trump Tower’s newest “amenity.”
Trump was the developer and sponsor of the Trump Tower when it was constructed 33 years ago. The majority of the building’s 263 units are individually owned. The appeal of living in Trump Tower has not been universal, says Debra Stotts, a sales associate for Town Residential in New York. “Honestly, it’s 50-50 — just like the polls,” Stotts says. “There are those who flee, and there are those who are going to the building and want to be associated with Trump as a winner.”
Sale and rental listings in the building have fallen in value recently, but Stotts says that’s more of a reflection of the market. “Before Donald won, they were down,” she says. “It’s because of the abundance of development that’s occurred in New York City. There are just so many buildings in the market.”
New York Mayor Bill de Blasio says that securing the Trump Tower costs the city $500,000 per day. The city is requesting $35 million from the federal government to cover the costs of guarding the building between the election on Nov. 8 and Trump’s inauguration on Jan. 20.
Source: Realtor magazine