L
uxury brokers are reporting a significant shift in buyer interest for Trump-branded real estate, with some describing it as "night and day" compared to the previous administration. The stigma associated with owning or renting a property bearing Donald Trump's name appears to have lifted since his re-election.
Lisa Simonsen of Brown Harris Stevens notes that her four-bedroom listing at Trump Park Avenue has seen a surge in serious buyers, whereas before the election, many potential buyers were only interested in scoring a bargain. Adam Disick, a broker at Addison Realty Group, reports consistent interest and traffic for his one-bedroom listing at Trump Tower.
The shift is not limited to buyers who are enthusiastic about Trump's politics; international and New York-based buyers seem more focused on the apartment itself rather than the name outside the door. Some brokers even report that buyers are now openly embracing the Trump brand, seeing it as a sign of acceptance in a city that has shifted rightward.
However, experts caution against reading too much into this trend, citing the limited data and the fact that there aren't many Trump-branded buildings left in New York. Jonathan Miller of Miller Samuel suggests that the uptick in interest may be due to other factors such as pent-up demand, a surging stock market, and buyers accepting higher interest rates.
Rex Gonsalves, a Brown Harris Stevens agent, notes that even if buyers had negative feelings towards Trump, they were not buying anything during his first term. The difference now is that the stigma has dissipated, making it easier for brokers to sell these properties.
The pricing at Trump-branded buildings remains near 20-year lows, which could be another factor contributing to their appeal. However, some experts argue that this trend may not last, and buyers will eventually return to more modern and luxurious developments.
