Real Estate With Trump Name Becoming Worthless

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Real Estate With Trump Name Becoming Worthless

Posted by: Business Insider Reports ()

Date: February 19, 2024 10:26AM

Condominiums in Manhattan branded with the name of former President Donald Trump are selling for far less than buildings that have removed his branding, according to The New York Times.

The newspaper referred to sales data from two real estate tracking firms, coupled with an analysis conducted by Columbia University economist Stijn Van Nieuwerburgh.

Examining a one-year period from when Trump was elected president in 2016, condos in Trump-branded buildings went from being sold at a 1% premium to being sold for 4% less than similar units without the logo, it found.

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Van Nieuwerburgh told The Times that this indicates that Trump-branded condos became a "bargain" in the Manhattan real-estate market.

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