You have to hand it to the commercial real estate industry, it knows how to turn lemons into lemonade.
A Douglas Elliman email blast released less than a week after Trump’s election victory presented the US Secret Service as Trump Tower’s hot, new amenity (or “aminity,” as it was written), Politico reports.
The email was advertising a $2.1M, 1,052 SF one-bedroom condo on the 31st floor of “the Most Secure Building in Manhattan,” repped by brokers Ariel Sassoon and Devin Leahy.
The Fifth Ave tower served as the president-elect’s home and campaign HQ, and will continue to serve as wife Melania and son Barron’s residence while Barron attends school. Securing the building costs the city about $500k per day, and Mayor Bill de Blasio is seeking $35M in federal funds to protect the building until Trump’s inauguration.
While there’s been much attention to Trump’s potential conflicts of interest, this is the first concrete instance of his business associates trying to profit from his new position.
Most of the tower’s 263 units are individually owned and the Trump Organization doesn’t retain a portion of any sales. It does, however, manage the building, receive $2k for every application’s processing fee, and run the building’s garage, bar and restaurant. [Politico]
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