The Briefing Room
General Category => Trump Legal Investigations => Topic started by: mystery-ak on February 17, 2024, 04:58:07 pm
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Inside the lavish NY real estate portfolio Trump amassed under company he’s been banned from running
By Social Links for Chris Nesi
Published Feb. 16, 2024, 8:18 p.m. ET
Donald Trump — who was temporarily banned from being CEO of his namesake company Friday — spent decades growing the family business, in part by slapping his last name on some of New York City’s most iconic buildings.
But the ruling by a Manhattan judge could see the former president lose his grip on the real estate world he’s been synonymous with since the late 1970s, dealing a major blow to the Trump Organization — and representing a significant ego bruising for Trump himself.
In the early 1990s, the real estate market was in freefall and several of Trump’s business ventures — including the Trump Taj Mahal in Atlantic City and the Plaza Hotel in New York — had recently gone belly-up, which put the Queens native deeply in debt.
Licensing the Trump name became a way to boost his global profile, and bank account, without taking on the usual risks of a commercial real estate developer.
(https://nypost.com/wp-content/uploads/sites/2/2024/02/map-diagram-showing-various-properties-76682892.jpg?quality=75&strip=all)
Map diagram showing the various properties that Donald Trump stands to lose around New York City and the five boroughs 6
Trump’s New York empire is more of a combination of naming rights, retail space and a few buildings he owns outright. New York Post
By attaching his name to a building project, Trump could collect a hefty payday while avoiding any liability.
The responsibility instead would fall to the project’s developer, who in turn received the benefit of being associated with a famous name.
more
https://nypost.com/2024/02/16/us-news/a-look-at-trumps-lavish-nyc-real-estate-portfolio-he-may-lose-control-of/