March 20, 2017

Trump Tower apartments hard to sell

Town & Country - When a listing for a $2.1 million apartment in Trump Tower touted the newfound Secret Service security presence last fall as an "amenity," the marketing pitch made news. Now it seems that real estate agents are doing anything they can to move the listings in the building, which have escalated significantly since President Trump's election.

There are currently 20 apartments for sale in the building, according to Street Easy, 19 of which were listed after January 1. There's been only one sale since Trump took office: a one-bedroom on a high floor that went for $1.9 million on an asking price of $2.195 million

"This is clearly a remarkable situation and obviously spurred by one resident being the president of the United States," says Kirk Henckels, the vice chairman of Stribling & Associates.

Now, residents and guests arriving at the 664-foot tower in midtown Manhattan are required to submit to airport-style security screening by the Secret Service. Even those who just want a coffee from the Starbucks on the tower's second floor have to put their bags through an x-ray machine. And outside the residents' entrance, on 56th Street between Fifth and Madison Avenues, black SUVs are a constant presence. \

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