Published: Sun, October 21, 2018
Worldwide | By Jermaine Blake

Condo owners vote to strip Trump name from building

Condo owners vote to strip Trump name from building

The residents of a Manhattan condominium called "Trump Place" have voted to remove the president's name from the tower's facade, the latest in a string of properties that have distanced themselves from the Trump brand since Election Day 2016.

Today, workers began removed the enormous "TRUMP PLACE" signs that grace a 46-story tower on Manhattan's Upper West Side.

A judge ruled in May that the residents had no legal obligation to display the name as part of the license agreement.

In addition to three other NY condos, Trump's name has also been removed from hotels in Toronto, Manhattan's Soho neighborhood and Panama City since he became president. The judge concluded that the decision should be made by the building's condo owners, adding, "the court does not find any of defendant's arguments convincing".

The decision was debated by unit owners for over a year while support to remove the sign steadily increased, according to the New York Times.

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The 377-unit tower was built in 1998 and owners agreed in 2000 to license the Trump brand, paying $1 in perpetuity for the naming rights.

The Trump name, usually writ large and in gold, is still on more than 40 buildings around the world, including the two remaining "Trump Place" buildings on Riverside Boulevard.

The board estimated it would cost about $23,000 to remove the 20 letters from the building and wash the facade. "We encourage everyone to move forward and respect the will of the community". There is no reason to take it down."Another wrote: "Arguably, at one time the Trump name may have contributed something to the value of our apartments". Following that, the board passed a resolution to remove the signs.

Another building is stripping Trump off its entrance. The building's employees work for the condominium, not for the Trump Organization.Trump apartments in 2017 sold for an average of $1,741 per square foot in Manhattan, or 6.6 percent less than the average Manhattan condominium, according to CityRealty, an online apartment broker. At Trump Tower on Fifth Avenue, average prices per square foot declined from $3,000 in 2013 to about $2,000 past year.

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