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.
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 the city’s most iconic buildings. Steven Hirsch for NY PostTrump’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.
Such licensing deals have resulted in an extensive portfolio of luxury hotels and golf courses around the world that bear Trump’s moniker — and pay him for the privilege to do so.
But by far the most of these deals were in the US, with 14 Trump-branded properties generating revenue from licensing or management deals, according to the Washington Post.
Here’s the latest coverage of Donald Trump’s $355M civil fraud trial ruling
Licensing is a big moneymaker for the Trump Org, netting them some $59 million in revenue between 2015-2016 alone, the outlet wrote.
Over the decades, the Trump name has been splashed on everything from wine and steaks to board games and golf courses.
But his favorite prize has always been high-end real estate, particularly in Manhattan.
Trump famously plastered his name on buildings all over Gotham, in many cases on buildings he didn’t actually own.
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. AFP via Getty Images
A Washington Post analysis of Trump’s properties conducted soon after he took office for his first term in the White House found that although his name adorned 17 properties in Manhattan at the time, he only actually owned five of them.
Following his ascent to the presidency, Trump’s name appearing on buildings in some cases became politically fraught.
In November 2016, days after defeating Hillary Clinton for the presidency, work crews removed the golden “TRUMP PLACE” lettering from a trio of luxury high-rises on the Upper West Side after a condo board vote.
The next year would see his name scrubbed from the Trump SoHo Hotel, which was rebranded as The Dominick.
By attaching his name to a building project, Trump could collect a hefty payday while avoiding any liability. Christopher Sadowski
By February 2019, Trump’s name had vanished from all six Trump Place condo buildings, according to the Washington Post.
But on Friday, Manhattan Supreme Court Justice Arthur Engoron may have delivered the 2024 GOP frontrunner’s real estate empire its worst news yet.
Trump has been barred from doing business in New York for three years and slapped with more than $355 million in fines following an 11-week trial over state Attorney General Leticia James’ fraud lawsuit against him, his two eldest sons, the Trump Org and others.
With the mogul’s future in New York uncertain, some of the iconic buildings around Manhattan that he either owns or has a financial stake in include:
The responsibility instead would fall to the project’s developer, who in turn received the benefit of being associated with a famous name. AP
Trump Tower
725 Fifth Avenue
Built in 1983, the 58-story Trump Tower is the headquarters of the Trump Org, and the site where the former commander-in-chief kicked off his 2016 presidential campaign with a famous descent down the building’s golden escalator.
The 257,000 square-foot mixed-use building also includes a 60-foot waterfall.
The Trump Building
40 Wall Street
Briefly the tallest building in the world, 40 Wall Street, also known as The Trump Building, was built in 1930 and has been owned by a wealthy German family, the Hinnebergs, since 1982.
Trump technically doesn’t own the 72-story structure itself, his company owns the ground lease, which it purchased in 1995.
So although his organization rents out space in the Depression-era skyscraper, he is technically only the landlord.
Such licensing deals have resulted in an extensive portfolio of luxury hotels and golf courses around the world that bear Trump’s moniker — and pay him for the privilege to do so. Christopher Sadowski
Trump International Hotel and Tower
One Central Park West
Trump owns key portions of this glitzy part-hotel, part-condo complex in Columbus Circle, but not the whole building, according to the New York Times.
His ownership stake includes the parking garage, room-service kitchens, valet booth, lobby bathrooms, a restaurant space and a single unit.
The rest is actually owned by GE and Ohio-based The Galbreath Company, who collaborated with Trump in the 1990s to develop the tower.
1290 Avenue of the Americas (Sixth Avenue)
The stunning 43-story office tower at 1290 Sixth Avenue, which straddles 51st and 52nd Streets in Manhattan, was built in 1964 and underwent a significant restoration project in 2013.
Trump owns a 30% profit share in the building, which will last through 2044, which he obtained in a settlement agreement after a lengthy court battle with a consortium of wealthy Hong Kong businessmen.
The consortium had bailed him out of a failed attempt to develop a lot near Lincoln Center after the bottom fell out of the real estate market in 1994.
Trump Park Avenue
502 Park Avenue
Trump Park Avenue on the Upper East Side is a luxury condo complex with 120 units.
The 32-story building was built in 1929, and has been called home by a who’s who of both Hollywood royalty (Lucille Ball, Ed Sullivan) and Trump associates (Jared Kushner and Ivanka Trump, Michael Cohen).
It was previously a string of hotels, and is said to be the location where Bob Dylan introduced The Beatles to cannabis in 1964.
Trump purchased the hotel in 2001 for $115 million.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
