Trump Tower condo prices down since campaign launch

Condominium prices in Trump Tower in New York have fallen sharply since President Trump first declared his White House bid in 2015, according to The Wall Street Journal.

It’s unclear if the reason for the falling prices is tied to a wider trend in the luxury condo market in Midtown Manhattan, or if the president’s politics and the perennial security presence at the tower are driving prices down.

The price per square foot in Trump Tower this year has so far averaged about $2,100, according to the Journal. That’s down 13 percent from 2016 and 23 percent from 2015. The median sale price this year is $2.2 million — its lowest since 2007.

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Meanwhile, prices per square foot in other buildings in Midtown Manhattan, not counting new developments, have risen slightly — about 0.3 percent — since 2015.

However, Olympic Tower, another Fifth Avenue building often compared to Trump Tower, has also seen prices per square foot drop 17 percent since 2015.

Another one of Trump’s Manhattan Buildings, Trump International Hotel and Tower, has seen prices per square foot decline 24 percent from 2015 and more than 11 percent since 2016, the Journal reported.

“Despite that, Trump buildings have continued to be a leader in average [price per square foot] against competitors,” she told the Journal.

“We cater to the most discerning buyers in the world, and while we can’t control the ebbs and flows of the market, we are incredibly proud of the overall performance that Trump properties continue to achieve,” she said.