Trump Organization’s Business Dwindles In New York: Report

NEW YORK, NY — The Trump Organization’s business in New York City has dwindled on several fronts in recent years, Crain’s New York Business reported Thursday.

The report does not pinpoint an exact cause for the decline in The Trump Organization’s business success, but cites several areas where it has declined in the city: at Trump’s golf course in the Bronx, at his hotels and at his luxury condominiums.

Golfers have steered clear of Trump’s Links at Ferry Point in the Bronx, where the revenue has fallen $1.1 million in the past two years and there’s been a drop of 16 percent in rounds played, according to the report.

Prices at Trump’s luxury condo properties in the city have also dropped in the past two years. As the Wall Street Journal reported, the average price per square foot for an apartment in Trump Tower has fallen 23 percent since 2015. It’s a similar case at Trump’s Central Park West Tower, where prices have dropped by 24 percent.

The report also notes that The Trump Organization’s standing in the Crain’s annual list of the largest privately held companies, dropped to No. 40 from No. 3 last year.

Further, The Trump Organization is not expected to build a new hotel in the city any time soon, even as rival real estate companies are constructing huge skyscrapers in prime spots near Grand Central Station and Penn Station.

Photo Credit: AP Photo/Pablo Martinez Monsivais