Ivanka Trump is having a hard time nabbing a renter for her Trump Park Avenue apartment. The first daughter concurrently listed her two-bedroom pad as a $4.1 million sale and a $15,000/month rental last December.
Since then, the 1,549-square-foot apartment has been taken off the sales market and has undergone a few rounds of price cuts to its asking rent: first to $13,000 in February, and on Tuesday, to $10,450. Bloomberg first reported the decrease.
Trump has owned the two-bedroom, two-bathroom apartment in her father’s real estate portfolio since 2004, when she plunked down just over $1.5 million for the place. It’s believed that Ivanka and her husband, current senior White House adviser Jared Kushner, also own a four-bedroom penthouse in the building, which was their primary residence leading up to the purchase of their $5.5 milllion Kalorama house in Washington D.C.
Bloomberg pegs the apartment’s inability to find a new occupant on a glut of pricey rental apartments in Manhattan. (That very well may be, but there’s also the fact that since Donald Trump launched his political career, some folks have been trying to distance themselves from his name.)
According to appraisal firm Miller Samuel, there were 7,497 apartments listed for rent in Manhattan at the end of August, 31 percent more than the monthly average since 2008.