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Trump Tower Is About To Get a New Office Tenant: The U.S. Military

Trump Tower Is About To Get a New Office Tenant: The U.S. Military

Trump Tower is still a home for the first family, and because President Donald Trump needs to be close to staff handling the "nuclear football," as it is called, at all times, the U.S. military has decided to lease office space in the Manhattan building.

Trump Tower is owned by the Trump Organization, now under the control of Donald Trump Jr. and Eric Trump. According to CNN, the Department of Defense is seeking to lease a limited amount of space in the 58-story building on Fifth Avenue. New York City is incurring a monthly cost of more than $30M securing the building, a high-profile symbol of the president and the residence of first lady Melania Trump.

Security at the tower while Trump resided there during the presidential transition wreaked havoc on the merchants on its block of Fifth Avenue, the world's most expensive retail corridor. Office rents for the floors currently available in the 28-story office section run at about $1.4M per floor annually, according to Newmark Grubb Knight Frank leasing director Jason Horowitz. The 15k SF 17th floor was available back in November.