Presidential-elect Donald Trump has made it clear that he doesn’t want to leave his Trump Tower penthouse for the White House but a new set of stats suggest that other building tenants are looking to leave, even if he isn’t.
An analysis conducted by the Hollywood Reporter revealed that almost 15 percent of the units within the 58-story high-rise are listed either for sale or rent and prices have been on a steady decline, though it’s virtually impossible to know if that is a result of his recent election without speaking to the vacating tenants.
There are at least 31 apartments that are currently on the market and even more that were listed and later removed. Over the past year, at least 39 percent of the available building units, both rentals and purchases, have seen price reductions. Not only are residents looking to unload, the units are spending about 50 percent more time on the market than the average luxury apartment, leading to an increase in number of vacant units.
For instance, a 2,184-square-foot two-bedroom duplex has been listed for about 15 months and has experienced three price chops. Even a one-bedroom rental has seen six price chops of its own between June and now, currently seeking $5,250 a month, writes the Hollywood Reporter.
While this round of statistics doesn’t paint an entire picture, it does show that many folks are opting to move on. And right now, who could really blame them? Politics aside, Trump Tower is now swarmed with Secret Service, police, and protesters on a daily basis, which one could only imagine is a living hell for the tenants. Add to it that future First Lady Melania Trump and son Barron Trump won’t be ditching Midtown to join their patriarch in the White House means that things will continue to be pure chaos around Trump Tower for the days and months to come.
Despite all of this, broker Rana Williams of Keller Williams insists that there has been increased interest for the tower’s units in the days since Trump was elected. Luckily, there’s lots of units for the interested to choose from.
- Election Aftermath: Are Trump Tower Residents Fleeing? [The Hollywood Reporter]