Trump Buildings' Value Dropped Since 2016, Data Shows

Correction: Because of inaccurate data provided to Patch, this story has been corrected to reflect the value of Trump-branded buildings in New York City stood at an average price of $2,065 per square foot. They dropped in value by 21.59 percent from 2016 to 2020.

NEW YORK CITY —Buildings stamped with five letters — T-R-U-M-P — saw their values drop bigly since their landlord won a surprising election victory in 2016.

By the time 2020 rolled around and President Donald Trump lost re-election, buildings branded with his name were worth 50 percent less, according to a new UrbanDigs study.

"The former president’s name is proving to be toxic in the New York City real estate market," a release accompanying the study states. "Though Trump made a name for himself in New York, properties situated in the numerous buildings that bear his name around Manhattan are losing value compared to other full-service condos in the borough, and also buildings that have dropped the Trump name."

Several New York City buildings and landmarks still prominently bear Trump's name, but the number is dwindling.

Many residents — such as those near Trump Palace and Trump Park Avenue on the Upper East Side — don't want to see Trump's name in their neighborhoods.

"I would certainly love to stop seeing his name as I'm walking through my neighborhood," resident Arthur Gwynne told Community Board 8 during a public meeting last week.

The distaste is at least somewhat mutual — Trump is now a Florida resident who frequently bad mouths his hometown, which had erupted into mass celebrations when Joe Biden decisively defeated him.

The city's long divorce with Trump hadn't reached fever pitch in 2016, when he won the presidency and Trump-branded buildings' average price stood at $2,065 per square foot.

The average price per square foot in Manhattan that year was $1,995, according to UrbanDigs.

But Trump-branded buildings' average price per square foot dropped significantly in 2017 down to $1,903.

They rebounded slightly to $2,190 in 2018 and $1,918 the following year, UrbanDigs data shows.

Their value in 2020 stood at $1,619 per square foot — less than the $1,815 average price for Manhattan, according to UrbanDigs.

Patch writer Nick Garber contributed to this report.