Tenants of the high-rise in New Rochelle, New York, want to abandon the name which has at times affected real estate value

In February the New York Times reported that after Trump became president the value of apartments in buildings bearing his name had underperformed market value. Buildings which had stripped the Trump name had seen their value shoot back up.
“This analysis clearly identifies that it is the Trump brand that is responsible for the value deterioration,” an economist told the Times.

  • AutoTL;DR@lemmings.worldBEnglish
    1·
    7 months ago

    This is the best summary I could come up with:

    Residents at Trump Plaza, a 40-story high-rise in the suburban New York city of New Rochelle, are pushing for the building to be renamed and to escape a near-two decade association with the legally-troubled ex-president and real estate mogul.

    Renaming the building would spare residents and workers in this racially diverse city of 80,000 people from encountering, at least visually, the Trump name.

    Greg Root, the president of the condo board at Trump Plaza, told the New York Post that a “silent majority” of owners supported the name change.

    The Trump International Hotel and Tower in Toronto, which like many Trump-branded properties is not owned by the former president but instead pays to use his name and management services, paid millions of dollars to break off the branding arrangement in 2017.

    In February the New York Times reported that after Trump became president the value of apartments in buildings bearing his name had underperformed market value.

    For decades Trump lived in his eponymous tower in Manhattan, but the building became the subject of frequent protesters after he was elected president.

    The original article contains 964 words, the summary contains 180 words. Saved 81%. I’m a bot and I’m open source!