New York City’s skyline is made up of many architectural masterpieces, but few are as famous as the legendary Trump Towers.
Located at 725 5th Avenue, stands Trump Towers, the 57th tallest skyscraper in New York City.
Its unbeatable location is just a hop skip and jump from Central Park, and sandwiched between Gucci and Tiffiny & Co., its no wonder that the golden doors of this luxury building are continuously frequented by millions of visitors every year.
As the world watches Donald Trump run for the 2016 US Presidential elections ,the name “Trump” has globalized and will no doubt bring even more curious visitors to the doorsteps of Trump Towers than ever before.
Frequented by both tourists and New Yorker’s seeking a luxurious break (not to mention free air conditioning) from the hustle and bustle of 5th Ave, what many forget is that there are also a lucky few that actually call Trump Towers home!
Can you imagine waking up in the morning and riding down a golden escalator past a cascading indoor waterfall and into Starbucks for your morning’s coffee?
With condo prices at a premium per square foot be ready to drop a few million dollars for the privilege of living in this prestigious New York City skyscraper. To illustrate, a high-profile restaurateur Jeffrey Chodorow’s three combined apartments on the building’s 38th floor, sold for $16.5 million dollars!!!
For most, this is an unaffordable sum, while for others with deeper pockets it’s a few million well spent on paneled walls and marble finishing’s set high above one of the most prestigious areas of New York City.
So you might ask: “What’s so special about Trump Towers that would compel you to spend $16.5 million dollars?”
- At the time of its completion in 1983 it was the tallest building in New York City:
In order to build a structure as tall as Trump Towers (in 1983), Donald Trump and Equitable Life Assurance Company put their heads together and created a building with a mixed purpose of residential, retail, and business usage. Additional air rights were purchased from their next-door neighbor-Tiffany’s & co.
- Present and past tenants include Bruce Willis, Gucci Flagship store, Andrew Lloyd-Webber, Cristiano Ronaldo, and the one and only Donald Trump himself
- Trump Tower was the setting of the NBC television show, The Apprentice. More specifically the famous boardroom where at least one person is fired at the end of every episode.
- A place to take a break from the sweaty NYC sidewalks and benefit from the very cool and might I add free air-conditioning!!!
What can you expect to see at Trump Towers?
- As you enter the golden doors you will be inside the main lobby known as the lobby
- The buildings public spaces are covered in Breccia Pernice (a pink and white colored marble) as well as brass mirrors.
- A 5 level atrium which has an indoor waterfall, shops, restaurants and a crowning skylight
- Pedestrian bridge which crosses over the waterfalls pool
So how did Donald Trump get involved in Real Estate?
Donald Trump was born in New York City in 1946, the son of real estate tycoon, Fred Trump. Fred Trumps real estate success was made possible by governmental financial programs. In 1934, during the great depression, help from the Federal Housing Administration (FHA) gave Fred Trump the opportunity to revive his business by building a lot of homes in Brooklyn selling at $6,000.00 each. Additionally, during World War II, Fred Trump built FHA backed housing for US naval personal around major shipyards along the east coast.
In 1974 Donald Trump became president of his fathers organization and spent the next 15 years of expanding his wealth and property. In 1980 he established Trump Organization to keep track of the overwhelming growth of his mammoth real estate empire.
In 1990 the Trump Organization revealed that due to excessive leveraging it was $5 billion in debt. The Trump Empire only survived due to the bailout pact, agreed upon by more than 70 banks, permitting Trump to defer nearly 1 billion dollars in debt. The rest of the debt were eliminated due to Trump going public and selling 23.25 million shares between 1995-1996.
The name “Trump” is truly a name that we associated with money power, perhaps our next US president, and of course the 57th tallest building in New York City, Trump Towers.
Next time you find yourself in New York City, be one of its millions of visitors and experience for yourself what makes Trump Towers truely remarkable!