Friday, 16 November, 2018

Trump's Name Is Removed From Another New York Building

New York condo building becomes the 7th to remove Trump’s name since 2016 Trump Humiliated As Seventh Property Votes to Remove His Name From the Building
Kenny Thornton | 21 October, 2018, 07:46

A Manhattan condominium building on Thursday will become the seventh to remove the Trump name from its facade since 2016.

Almost 70 percent of the condo owners voted this fall to remove Trump's name, despite the estimated $23,000 cost to pry off the letters and clean the facade, the Times reported. A judge ruled in May that the licensing agreement did not require residents to keep the name in perpetuity. The others included three other "Trump Place" buildings in the same complex in NY, plus hotels in Toronto, Panama, and the SoHo neighborhood of NY. This year, the board chose to ask a New York State Supreme Court judge whether they were required to keep the name in perpetuity under the agreement. Residents in another New York City tower have voted to remove the Trump name from their building in a sign that the Republican president's brand is losing some its power.

Manhattan condo residents cited antipathy, security risks and reduced property values from living in a building bearing the president's name.

Last week, approximately 70 percent of owners voted to remove the sign - costing approximately $1,150 per letter.

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Another resident countered: "Arguably at one time the Trump name may have contributed something to the value of our apartments". We just renewed our lease for two years."Ailing hotels in Toronto and NY paid the Trumps millions of dollars to remove the Trump name from their properties".

In Manhattan, there were 15 residential buildings that bore the Trump name in 2015.

This week's move to rid the condo building of the Trump nameplate follows a tooth-and-nail legal battle between the condo board and the Trump Organization.

"We were driven by our intense feelings about Trump himself", Linda Gottlieb, a resident at one of the Trump-branded apartment buildings, said in a recent interview. Trump lawyers said the board lacked standing because not all directors voted and commercial tenants were not consulted. The Trump Organization still has a contract to manage the building until the end of 2019. At Trump Tower on Fifth Avenue, average prices per square foot declined from $3,000 in 2013 to about $2,000 previous year.

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