Posted on 06/04/2021 8:50:10 AM PDT by ChicagoConservative27
NEW YORK (AP) — The building has stunning Manhattan skyline views, its spa offers deep-tissue massages, and the fancy restaurant off the lobby serves up prime steaks. Best of all, many apartments at the Trump World Tower are selling at a deep discount — assuming the buyer doesn’t mind the name over the door.
“Fifty percent of the people wouldn’t want to live in a Trump building for any reason … but then there are guys like me,” says Lou Sollecito, a car dealer who recently bought a two-bedroom unit with views of the Empire State Building. “It’s a super buy.”
The purchase price was $3 million, nearly a million less than the seller paid in 2008.
(Excerpt) Read more at breitbart.com ...
I dunno, the way ny is going, it may be a long time before prices begin to rise again. Ny is driving people away I. Droves because they won’t stop raising taxes and pulling the kind of crsp they did during the virus. Even ,arge companies are moving out or trying to.
She’s BLACK...she’s UNTOUCHABLE!
“Fifty percent of the people wouldn’t want to live in a Trump building for any reason”
Good riddance.
Which is the reason it is called the free market, supply and demand and location.
All markets react to the environment around them and within NYC, the fleeing populace, the grifters and homeless and criminals roaming the streets, what the hell would anyone expect?
You are correct. As sad and unfortunate as that is.
I wonder what it’s like to live with a level of impunity that allows one to et away with stealing that much money. All done without a care in the world.
This just proves he way over-valued the buildings and must be jailed. /s
Maybe Trump should buy up a small town in TX or FL or SC and call it TRUMPVILLE. Market 2-3 bedroom houses. They will sell like crazy.
The problem is not the name on the building. It is NYC.
I am sure they could have done the same story on a luxury condo building in Chicago or San Fran where prices are down 20%.
I am going to the Westminster Kennel Club show in Tarrytown, NY next weekend. This is the first time in over a hundred years it is not being held at Madison Square Garden in Manhattan. If it was, there is absolutely no way we would be going. It is no longer safe to go to NYC.
It is not just NYC. It is the whole NYC area including the close in expensive suburbs.
Check this out. There are over 500 houses for sale in Greenwich, CT. Greenwich is on average maybe the most expensive town to live in the USA. It is the first town when you travel east from NY into CT.
It is where the Bush’s were from originally.
www.realtor.com/realestateandhomes-search/Greenwich_CT
“let’s check nearby prices and see what the comps are doing in that area.”
Yep. AP isn’t interested in doing journalism.
I think you’re right. Real estate prices in northeast Oklahoma are climbing, and homes for sale in Texas are in the midst of bidding wars.
You have a source for that? Population in NYC has steadily grown since 1980, and is projected to keep going up.
In addition, Manhattan price per square foot for apartments has gone up 40% since 2008. Your premises are totally incorrect.
No, apartment prices increased 40% per square foot across Manhattan since 2008.
let’s start with the obvious. it’s 2021. stop trying to be clever with time frames.
and the causal density on real estate values in Manhattan is so thick as to be virtually useless, if not outright misleading, for the purposes of this discussion. but I suspect that’s why you brought it up.
I selected the dates from Q1 2021, because that is the latest data, and 2008, because that is when the unit was purchased according to the story. Following Manhattan real estate trends for apartments, it should have sold for close to $5M. It sold for half of that.
Wifey wants to move to NYC. I can’t stomach the idea of $7K rent. But I do love Broadway. We will see.
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