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Latest posts by Gea Elika (see all)
- Most Common Reasons Why Sellers Reject an Offer - June 22, 2018
- Small Co-op and Condo Buildings: The Advantages & Disadvantages - June 22, 2018
- Getting Your Rental Security Deposit Back - June 20, 2018
The president-elect has his name on buildings all over the globe. A few are right here in the city. When you see the Trump name on a building, don’t make assumptions about ownership. Just because the Trump name is on a building doesn’t mean he holds the mortgage or the deed. How is that possible? Because you’re seeing a brand. Let’s take a closer look.
The Trump Name and Real Estate
Surprisingly, Trump doesn’t own as many properties as you might think. The brand, however, is thriving. Trump is more of a legacy name that an indication of ownership.
Image byBrad/ Flickr
NY properties with Trump’s name include the Trump Building, Trump International Hotel, and Tower, Trump World Tower, Trump Tower, Trump Par Avenue, Trump SoHo, Trump Parc, Trump Parc East, Trump Palace, etc. You get the idea. His name is all over the buildings, but many are owned by other developers who have chosen to keep the iconic Trump name.
Trump has made a fortune not by owning many properties, but rather by licensing the name for use both domestically and globally. Trump is not the developer for many properties; he sells the licensing rights so companies can use the name. This is a wise strategy for the companies that buy the licensing rights. Very few luxury brands can compete with the Trump brand.
The Trump name goes on the building; the Trump Organization manages the property, and both parties can potentially make a great deal of money when all goes as planned. The Trump Organization is a rare find in the real estate business when it comes to leveraging the know-how and expertise to make such arrangements successful and profitable.
Image byPamela V White/ Flickr
What Does Trump Own?
Back to the Trump properties you recognize and see daily. There are 17 properties in New York City that bear the Trump name. Can you guess which ones he actually owns? The answer might surprise you. The following are the NYC properties Trump owns, at least partially:
- Trump Tower on Fifth Avenue (developer and commercial space owner)
- Bank of America Building – Avenue of the Americas (Trump owns a 30 percent share)
- Trump building on Wall Street (owned by Trump)
- 4 East 57th St. (owned by Trump)
- 8 East 57th St. (owned by Trump)
- Co-ops at 167 E. 61st and 325 E. 43rd St. (owned by Trump)
The following are Trump buildings not actually owned by Trump:
- Trump SoHo
- Trump Park Avenue condos
Trump buildings that he does not own but for which he is listed as a developer include the following:
- Trump Plaza
- Trump World Tower
- Trump Parc
- Trump Parc East
- Trump Place Properties on Riverside Blvd.
- Trump Place on 89th St.
- Trump International Hotel at Central Park West
- 610 Park Avenue Condos
Knowing this might make you look at the Trump properties a little differently and help you better understand the international Trump brand. What is your experience with the Trump brand?