REPORT: Trump Buildings ‘On Fire’ After His Election Win
After Donald Trump’s big election win this week, many have wondered how the buildings bearing his name will fare in the marketplace. We have a listing Trump Palace with a sincere seller (one that isn’t listing just to ‘see what he can get’, he really wants to sell). It is a beautifully renovated 3 bedroom with ocean views for $2.1 million, but the drama from the election certainly hasn’t done us any favors. Not yet, anyway.
Now that the election is all over, TMZ has reported that Trump’s properties in NYC are ‘on fire’ with buyers swarming once more. I am well aware that TMZ is not the first site to come to mind if you’re looking for market news, but in their defense they did interview legit agents and they do thoroughly fact check. As a matter of fact, they have called our office more than once to verify leads that they receive.
Less than a week into the election news, it is too soon to tell from the sales figures what effect the Trump name is having on the market in his buildings. How do you think it will pan out? Do you think that the values will increase in these buildings or will the sellers there suffer from the name association? If you are a fellow agent or broker, have you experienced an increase in inquiries for these buildings over the last few days?
We’ll be watching this one closely. Here are some additional photos of Trump Palace 3604 for those who like to admire pretty properties…
A contract holder of a condo unit at Trump Tower I, who got in at an excellent price via the “Friends and Family Discount,” contacted me last week to help him find a replacement buyer. He has a contract on a 2 bedroom + den/3 bath condo with 1,938 square feet of interior space and a 227 square foot balcony (C-Mod). The unit faces northeast and will have gorgeous direct views of the Atlantic Ocean from the living room, kitchen and both bedrooms. In order to remain partially anonymous to the developer, let’s just say that the unit is located on a high floor above the 25th floor.
Trump Tower I, II and III is a luxury beachfront development located in Sunny Isles Beach that was headed up by Dezer Development and The Related Group of Florida, with the world-renowned “Trump” name tagged to the development. Each tower rises 45 stories with 271 spacious residences which offer private elevator foyers. The residences also offer the following:
Wolf and Sub-Zero appliances
Italian cabinetry with granite or marble countertops in kitchens and bathrooms
Designer kitchen and bathroom fixtures
Expansive balconies with glass and aluminum railings
Elegant smooth ceilings rising to 10′ or 11′ clear
Floor-to-ceilings windows
Trump Tower I, II and III will also offer world-class amenities and common areas which include the following:
Exquisitely appointed three-story lobby
24-hour security and concierge services
Elegant porte-cochere entrance with 24-hour valet services
Elevated, lushly landscaped oceanfront terrace with heated swimming pool, spa and pool attendants
250 feet of sugar-sand Atlantic Ocean frontage
Beachfront cabanas
State-of-the-art fitness center and resident’s health spa
Multi-purpose clubroom
Mail and package receiving desk
Three levels of covered and secured garage parking
The contract holder who contacted me is looking to break-even on his purchase by offering this condo to an end-user for $1M, or $516 per square foot. That’s one helluva well-priced beachfront condo! Closings are scheduled to begin in December of this year but will likely be pushed back until the first quarter or first half of 2008.
