Connect with us

Real Estate

Former Goldman Exec Petitions to Remove Trump Name from His UES Building

Published

on

Trump Palace located at 200 East 69th Street on Manhattanu2019s Upper East Side. (Photo credit: Elegran Real Estate)

Former Goldman partner Laurence Weiss has begun a movement to have Trump’s name removed from 200 East 69th Street, which is also known as Trump Palace. Since 2015, Weiss has been trying to sell a unit that he was in the building. This petition is just the most recent in several New York Buildings that are trying to have the president’s name taken out of its own name. 

Weiss wrote a letter to his neighbors, saying: “We, the owners, can change the name if 2/3 of us agree. I am asking you to support my effort to remove the name Trump from the building and change the legal name from ‘Trump Palace Condominium’ to ‘200 E 69th St. Condominium.’ I understand that for some this is a complicated issue. For me, it’s only business. Our homes are worth more without the Trump name.”

When Weiss apartment was first paced on the market it, it had an asking price of $15.5 million. In the past two years, the listing price has nearly cut in half, to the current price of $8.9 million. Although, when he purchased the unit in 2003, Weiss only paid $6 million for it, so his original mark up of close to $10 million was a bit overly ambitious.

News of the letter was first released by Keith Olbermann, who lost $400,000 when he sold his apartment in the same building last year. According to LLNYC, “Similar movements have worked in other buildings, like 140, 160 and 180 Riverside Boulevard, which removed the Trump name from their facades in 2016 (those buildings were not actually developed by Trump, just licensed under his name). So far, the Trump Palace petition has considerably less steam; Weiss told the Hollywood Reporter that only 32 of the 260 neighbors he contacted have been in favor of the change.”

Weiss said, “I am as embarrassed as anyone to be associated with Trump, but if it is affecting my property values, I said, why not try?”

By Rebecca Gold

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement
Advertisement --

Trending

Daily Newsletter

Get all the breaking news delivered right to your inbox as it happens

Sign Up Now!

ONE MONTH FREE

At Your Doorstep

No more hassles running to the newsstand, as each week for a month, you can now sit back, relax and enjoy the Jewish Voice in the comfort of your own home!