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By: Kala Jerzy
Donald Trump, the CEO of his eponymous company, has long been associated with New York City’s real estate landscape, leveraging his name to adorn some of its most iconic buildings. However, a recent ruling by a Manhattan judge threatens to loosen Trump’s grip on the realm of real estate, which he has dominated since the late 1970s, dealing a blow to the Trump Organization and undoubtedly bruising Trump’s ego in the process.
During the early 1990s, a downturn in the real estate market led to financial woes for Trump, with several of his ventures, including the Trump Taj Mahal in Atlantic City and the Plaza Hotel in New York, facing bankruptcy and leaving him heavily indebted. In response, Trump capitalized on licensing his name as a strategy to bolster his global profile and financial standing, without directly engaging in the risks associated with real estate development.
Licensing deals allowed Trump to accumulate a vast portfolio of luxury properties worldwide bearing his name, generating substantial revenue through licensing and management agreements, particularly in the United States. According to the Washington Post, between 2015 and 2016 alone, the Trump Organization raked in approximately $59 million in revenue from licensing. While the Trump brand extended beyond real estate to include ventures such as wine, steaks, and golf courses, Trump’s primary focus remained on high-end real estate, particularly in Manhattan.
An analysis by the Washington Post during his first term in office revealed that while Trump’s name was put on numerous Manhattan properties, he owned only a fraction of them. Following his presidency, the political implications of Trump’s name on buildings became evident, with instances of his name being removed from properties due to contentious associations.
However, the most recent blow to Trump’s real estate empire came from Manhattan Supreme Court Justice Arthur Engoron, who barred Trump from conducting business in New York for three years and imposed fines exceeding $355 million following a prolonged trial over fraud allegations. As a result, the future of Trump’s iconic properties in Manhattan hangs in uncertainty.
Despite these setbacks, Trump’s legacy in New York’s real estate market remains intertwined with his name gracing some of the city’s most iconic structures, even as legal battles and controversies continue to shape his narrative in the industry.
Some of the notable properties in Manhattan associated with Trump include Trump Tower on Fifth Avenue, which serves as the headquarters of the Trump Organization. Additionally, 40 Wall Street, known as The Trump Building, although not directly owned by Trump, is held under a ground lease by his company. Trump’s involvement in other prominent properties like Trump International Hotel and Tower in Columbus Circle and 1290 Avenue of the Americas underscores his enduring presence in Manhattan’s real estate landscape.
