Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
6Activity
0 of .
Results for:
No results containing your search query
P. 1
Donald Trump and his Real Estate

Donald Trump and his Real Estate

Ratings: (0)|Views: 450|Likes:
Published by Dianne Crosby
Donald Trump and his real estate business. The list of his most expensive properties in the US.
Donald Trump and his real estate business. The list of his most expensive properties in the US.

More info:

Published by: Dianne Crosby on Jul 16, 2009
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

09/22/2010

pdf

text

original

 
Ever heard of a guy called Donald Trump? Yes, I’m talking about the same guy whoyou see on TV every week saying, “You’re fired” on this little show called “theApprentice.” Ever wonder how he got so wealthy? Let me tell you how he came tobe known as one of the world’s wealthiest men.Donald Trump joined his father’s real estate business right after he graduated fromWharton School. His father was his mentor and it did not take him much time todecide that this was exactly the line of work he wanted to be in. Ever since hemastered the art of investing in all the right real estate projects, his fortune has onlygrown. The only setback came in the late 1980s and spanned close to a decadebecause of some bad expansion plans and creditor bailouts. His divorce with histhen wife Ivana Trump only added to this. However, ever since he revived himself from that bad patch, it has been smooth sailing. In his father’s words, “everythingDonald touched seemed to turn into gold”. The list of real estate that the Trump Organization has owned over the years hasbeen quite huge. Some of the most impressive buildings on the New York skylinehave been developed by him. Some of these buildings include:
 Trump World Tower: 845 United Nations Plaza, New York, NY. It is valued at$290 million.
 Trump Tower: 725 Fifth Ave, New York, NY 10022: Trump owns the retail andoffice space on the lower half of this building. It is valued at $288 million.
o
Personal Residence: Trump Tower: top 3 floors of Trump Tower withapproximately 30,000 square feet (3,000 m²) of space; detailed inbronze, gold, and marble. Worth as much as $50 million, it is one of themost valuable apartments in New York City.
AXA Financial Center, 1290 Avenue of the Americas, New York, NY
555 California Street, formerly the Bank of America Center, in San Francisco:When Trump was forced to sell a stake in the rail yards on Manhattan's WestSide, the Asian group to which he sold then sold much of the site for $1.76billion. They then reinvested the rest of the money, via a tax-free exchange,into two office buildings: 1290 Avenue of the Americas in Manhattan and 555California Street in San Francisco (The Group has since sold their stake toVornado Realty Trust). Trump ended up owning 30% of the two buildings.Based on the recent sales price, Trump's stake is valued at $540 million.
 The Trump Building at 40 Wall Street: Trump bought and renovated thisbuilding for about $35 million in 1996. Although Trump claims it is worth $400million, New York tax assessors value it at only $90 million. Mr. Trump hastaken out a $145 million mortgage on this property to use for otherinvestments.
Forbes
values the property at $260 million.
 Trump Entertainment Resorts: This Company owns the Trump branded casinoresorts. After a long period of financial trouble, the company enteredbankruptcy protection in 2004. Trump agreed to invest $55 million cash in the
 
new company and pay $16.4 million to the company's debtors. In return heholds a 29.16% stake in the new public company. This stake was worthapproximately $171 million in October 2006. The following are the Trumpbranded casino resorts:
o
 Trump Taj Mahal
o
 Trump Plaza
o
 Trump Marina
Riverside South/Trump Place When completed, Riverside South will be thelargest single private development in New York City's history. It was built bythe Trump Organization, although financed by investors from Hong Kong andowned by the Hudson Waterfront Company. During his financial difficulties inthe mid 90's, Trump was forced to sell this site, the former west side rail-yards. The new owners continued Trump's involvement with the property andsought to use his name to seek higher sales prices. Trump was paid $2 millionannually for his oversight of the project, and he was offered an estimated30% of the net profits upon completion of this 10 year project. The investorssold off the uncompleted project in 2005 for $1.8 billion and offered Mr. Trump $500 million. Trump contends that the property should have been soldfor more than $3 billion and in 2006 sued the owners for selling without hisconsent, and sought $1 billion in damages.
Forbes
values his stake in theproperty at $170 million.
 Trump International Hotel and Tower Chicago (under construction, anticipatedcompletion is 2009): The entire project is valued at $1.2 billion ($112 millionstake for Trump).
 Trump Hotel Las Vegas: This is a joint development with fellow
Forbes
400member, Phillip Ruffin. Trump's stake is valued at $162 million.
 Trump International Hotel and Tower New York: Trump provided his name andexpertise to the building's owner (GE) during the building's re-development in1994 for a fee totaling $40 million ($25 million for project management and$15 million in incentives deriving from the condo sales).
Forbes
values Trump's stake at $12 million.
 Trump Park Avenue: Park Avenue & 59th Street. It is valued at $142 million.
Golf Courses (valued at $127 million):
o
 Trump currently owns four golf courses in the United States including Trump National Golf Club in Briarcliff Manor, New York, Trump NationalGolf Club in Bedminster, New Jersey, Trump International Golf Club inWest Palm Beach, Florida, and Trump National Golf Club in Los Angeles,CA.
o
In 2006, Donald Trump purchased a 1,400-acre (5.7 km
2
) plot just northof Aberdeen at Menie, Scotland, Trump International Golf Links, withthe intention of turning it into a £1 billion golf resort and "the world'sbest golf course". The development plan included two courses, a 5-star

Activity (6)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
maher101067 liked this
Kobby Anim liked this
Kobby Anim liked this
syed313 liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->