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drholden3's avatar

Despite the little bumper sticker used to illustrate this article, Trump Tower is not "Mine."

In fact Trump actually owns very little within Trump Tower besides his own (lied about the size under oath ) personal residence, some commercial operations within the building, the garage, etc. It is a condominium building as are many of "Trump's" other NYC buildings. There are many "owners," some rather shady like the name on the building.

He does not "own" 40 Wall Street, for example. He controls the ground rent. Moreover, he does not even own the ground according to Curbed, the NYC real estate watchdog site: some other family does.

Realizing how limited his personal equity is in most of these properties explains a lot about why he found it so hard to get all the bond money he needed. He does not have as much collateral to put up as security as we were led to believe. (His golf course properties may be a different deal.)

It would be nice if the media in general quit fluffing up his reputation as some kind of "powerful NYC property magnate". He is more a glorified "time share" tenant.

No wonder he looks scared.

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Elizabeth Graham's avatar

Until yesterday, I firmly believed that Trump was on a path of decay and could be beaten. After the NY Court reduced his dollar fine and gave him ten more days to raise the money, my heart sank. This single action spoke louder than words and told the whole entire world that judges CAN be bought, justice in the United States is a major JOKE, and our country is not based on "justice for all" but rather a corrupt system of government and laws.

I was living in Moscow when Yeltsin shot cannon fire into the Russian "White House" (their seat of government) and destroyed the building. There was instant lawlessness and snipers firing from rooftops throughout Moscow. There is a stark comparison to yesterday's Trump's NY court decision to Yeltsin's destructive behavior and instant affirmation of power.

I lost faith in our system yesterday and there were probably millions of other Americans who did as well.

Elizabeth

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