TRUMP SLUMP: Donald Trump’s Real Estate Empire Is Suffering A YUGE SWOON In 2016

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The value of Donald Trump’s various luxury real estate ventures is suffering because of his presidential run, according to a Yahoo Finance analysis of national real estate prices.

The analysis, conducted by residential real estate company Redfin, shows that the condominium values in several Trump-branded properties have fallen during the otherwise generally steady housing market of 2016.

Prior to Trump’s presidential candidacy, Trump properties around the country enjoyed a “Trump premium,” which meant that buyers paid more — sometimes as much as 70 percent more — for condos located in buildings festooned with the Trump name.

Trump had bragged about the real estate magic his name generated. In a court deposition, Yahoo Finance notes, he said people paid more for space in Trump buildings because he had starred in “The Apprentice,” an NBC reality show.

As of this year, however, the “Trump premium” has mostly vanished in the nine markets and sub-markets Redfin analyzed.

“We can no longer attribute any pricing differential to Trump’s name being associated with the properties we studied,” Taylor Marr, a Redfin analyst, told Yahoo Finance.

Examples of a Trump-branded real estate slump abound.

In Chicago, for example, a 53rd-floor, two-bedroom condo in the Trump International Hotel and Tower — with “breathtaking panoramic views,” “dark walnut floors” and fancy appliances — sold in March 2015 for $1.675 million. The price per square foot was $1,046. A similarly luxurious, 39th-floor condo at 600 N. Fairbanks — approximately 8 blocks east — sold around the same time for $1.4 million, at a price per square foot of $822.

Thus, the “Trump premium” was a princely $224 per square foot.

In June 2016, however, a 33rd-floor, two-bedroom condo in Chicago’s Trump Tower — with a “dramatic curved living room,” a “master suite with fireplace” and a “large gourmet kitchen” — sold for $1.9 million. The price per square foot was $795. Over at 600 N. Fairbanks, a generally similar luxury condo sold a day later for $1.2 million, at a price per square foot of $781.

The 2016 “Trump premium” had dwindled to just $14 per square foot.

Also, more owners in Chicago’s Trump Tower appear to be attempting to ditch their Trump condos for other digs this year, Chicago real estate agent Susie Schechtman told Yahoo Finance. (RELATED: Law School Pays To Move Annual Law School Prom From Trump Tower In Chicago)

The one place where little to no Trump condo slump is occurring is New York City. True, the median price of Trump properties in the Big Apple is failing to keep up with New York City real estate prices overall. At the same time, though, median values of Trump properties are rising faster than values of similarly luxurious buildings. Also, Trump property rental prices are doing just fine.

The Trump luxury hotel business is tending to suffer around the country, according to Yahoo Finance. In August, a three-day stay at one of seven fancypants Trump hotels in the United States can be had at an average rate that is $44 cheaper than the rate at nearby hotels with the identical star ratings.

In Las Vegas, for example, you can stay at the Trump International Hotel for the bargain-basement price of just $129 in August. At the Venetian or the Wynn, you’ll pay considerably more. In Toronto, you can stay at the Trump International for $238 per night — $162 less per night than a night at the Four Seasons.

The Trump hotel pickings are even better in September, when a three-day stay in a Trump-branded hotel can be yours for a nightly rate $68 lower than the rate at nearby hotels with the identical star ratings.

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