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Trump-branded Manhattan properties have lost half their value since 2016

There’s that old adage about evil people doing evil things and good people standing by and doing nothing. It’s a powerful reminder that we all have to remain diligent in order to preserve the wispy bonds of comity and goodwill that hold our fragile republic together.  

There might also be a saying about evil people losing their shirts in real estate and good people standing by and laughing their ruddy asses off. And if there is, it sure as shit applies here.

Business Insider:

After a tumultuous one-term presidency, a violent insurrection by supporters, and a retirement to Florida, the Trump name has attracted some negative connotations. And his real-estate holdings are feeling the heat: According to Curbed's analysis of a report from real-estate data firm UrbanDigs, Trump-branded Manhattan properties have lost half their value since Trump first took office.

“I hope you relish it as much as I!”

UrbanDigs — which looked at the seven luxury buildings in Manhattan that still bear the Trump moniker, and three that used to — found that even properties that formerly had Trump in their names lost 17% of their value since 2016. By comparison, the overall price per square foot decline in Manhattan over the same period was just 9%.

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In 2016, the average price per square foot in seven NYC properties run by his real-estate behemoth, the Trump Organization, was $3,346, according to the report. In 2017, following Trump's election and inauguration, that figure sunk to $1,903; by 2020, it was at $1,619. That's a drop of 51% from its 2016 price.

The average price per square foot for Manhattan properties was $1,995 in 2016, dipping to $1,815 in 2020 — a mere 9% decrease, Curbed notes.

that one never gets old...

So by some accounts, Trump ran for president either to make money through grift and merch sales or simply to wring more cash out of NBC for The Apprentice. And now this.

If only there were a word for this odd joyful feeling that’s making my limbs tingle and enticing me to dance an increasingly jaunty series of jigs.

RELATED  Biden on Trump and COVID: 'He’s like a child who just can’t believe this has happened to him'

Let me just check my thesaurus. Oh, here’s a good one:

SCHADENFREUDE!

Yes, yes. That’s what I’m feeling.

Oh, and here’s a little Aesop’s fable about why you don’t contest the results of a free and fair election when you’re about to reenter the private sector. Seems trying to overthrow the government of the country where your business is headquartered doesn’t really aid your prospects.

As Insider reported after the election, the prices in Trump buildings did falter, but residents and realtors were optimistic about the building's future.

However, the Trump name has been dragged through the mud even more in 2021, after a violent insurrection on the Capitol by Trump supporters left five dead and seemed to throw the peaceful transfer of power into question. …

Groups began to cut ties with the Trump Organization, including the Girl Scouts and the city of New York. Apartment owners at the Upper East Side's Trump Palace reportedly met to discuss removing Trump's name from the building, Bloomberg reported.

Hmm, so what would you call Trump’s name now? Mud? Merde? Dog shit?

“If I were choosing to market a new project, the Trump name is probably pretty radioactive right now,” [real estate broker Mark] Cohen said.

Yes, “radioactive.” That’s a good one.

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Enjoy the rest of your day.

I know I will.

This guy is a natural. Sometimes I laugh so hard I cry.” — Bette Midler on author Aldous J. Pennyfarthing, via Twitter. Trump is gone, but the righteous mocking goes on forever. Thanks to Goodbye, Asshat: 101 Farewell Letters to Donald Trump, Dear Fcking Lunatic: 101 Obscenely Rude Letters to Donald Trump, Dear Prsident A**clown and Dear F*cking Moron, you can purge the Trump years from your soul sans the existential dread. Only laughs from here on out. Click those links!


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