Homeless shelter operator to take over Trump’s Bronx golf course

Months after Mayor de Blasio announced that New York City was ending its business relationship with Donald Trump, the city appears to have found a new operator for his Bronx golf course. In a notice published Monday, the city revealed plans to award a company called Ferry Point Links LLC a 13-year deal with the Parks Department to take over the 18-hole course. As first reported by The City, the group shares an executive’s name

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Trump Plaza New Rochelle dumps Trump Org as property manager

The Trump Organization’s property management footprint keeps shrinking as condo boards vote to distance themselves from the former president’s controversial brand. The board at Trump Plaza New Rochelle, a 40-story luxury tower at 175 Huguenot Street in downtown New Rochelle, has elected to switch its management agent from the Trump Organization to AKAM Associates, according to a memo to condo owners reviewed by The Real Deal. The change is effective Oct. 1. The New Rochelle

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Trump Org in “advanced talks” to sell DC Hotel lease

After several fits and starts, the Trump Organization appears to be close to selling the lease on the Trump International Hotel in Washington, D.C. In June, the Trump Organization turned to Newmark to market the ground lease on the property. JLL had previously been marketing the hotel, but distanced itself from the Trump Organization after the riot at the Capitol in January. Now, discussions to sell the lease have entered “advanced talks,” according to Axios.

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Trump PAC a key tenant at strained Trump Tower

Donald Trump has at least one dependable tenant at Trump Tower in New York City: a Trump PAC. As other tenants have racked up hundreds of thousands of dollars in arrears at the 75-percent occupied Midtown Manhattan building during the pandemic, the Make America Great Again PAC has reliably paid over $37,500 per month to lease office space on its 15th floor since March, according to the Washington Post. Rent isn’t the only payment the

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IRS probes promoters of tax-deductible property easements

The IRS is hot on the tail of promoters of tax-deductible easements who are allegedly inflating values to increase those deductions. The agency is challenging $21 billion in deductions over a three-year period from 2016 to 2018, Bloomberg reported. It is going after promoters who sell deals through brokers, accountants and lawyers, and who market the projects as tax-deduction generators. The issue has become an enforcement priority, according to the publication. Syndicated conservation easements reward

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Texas broker pleads guilty to misdemeanor for involvement in Capitol riot

A Texas real estate broker who stormed the U.S. Capitol on January 6 and documented it on social media pleaded guilty on Thursday to a misdemeanor charge for her involvement in the riot. Jenna Ryan agreed to pay $500 in restitution for damages to the Capitol during the attack, according to CNN. The Justice Department has cut similar deals with other nonviolent participants in the attempted insurrection. Ryan could face up to six months in

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Can Trump International Chicago bounce back?

Condo owners at Trump International Chicago Tower & Hotel have long known that luxury downtown apartments in a tower with any other name sell at higher prices. Now, with the building’s namesake developer out of office, they’re seeing signs that pricing may finally have hit bottom. Average resale prices at the Trump tower have increased about 2 percent this year, to $579 per square foot, said Gail Lissner, managing director at Integra Realty, an appraisal

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Westchester condo complex dumps Trump name

Donald Trump has been dumped again, this time by condo owners at a complex in White Plains. The Trump Tower at City Center will be losing its name in the coming weeks, according to LoHud. Unit owners in the 35-story luxury tower voted to drop the affiliation with the former president and real estate mogul in February, leading to an announcement about the decision last week, the report noted. Because the owners also voted to

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Continental Casualty won’t pay for Trump Tower’s water mess

Insurer Continental Casualty is refusing to cover any potential fines tied to a recent legal decision against the Trump Organization. A judge ruled that the former president’s company had pumped almost 20 million gallons of water daily into and out of Trump International Hotel & Tower to and from the Chicago River without a permit. As the condo and hotel skyscraper’s property insurance company, Continental could potentially be on the hook for up to $12

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Donald Trump is owed $1M tax refund on Chicago skyscraper

 Donald Trump has received a rare tax ruling in his favor. The Illinois Property Tax Appeal Board said the former president should receive a $1.03 million refund for overpaying on a 2011 tax bill at the hotel and long-vacant retail portions of Trump International Hotel & Tower in Chicago, according to the Chicago Sun-Times. That order is based on a decision that the Cook County Board of Review overestimated the combined value of those portions

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