Trump’s office buildings made less money than expected: report Net income in 2016 lagged behind appraisals
Trump Tower, President Donald Trump (credit: Getty Images) and 40 Wall Street
Amid a changing office market, President Trump’s Manhattan office towers made less rental income last year than initially projected by lenders, according to a new report.
The office tower at 40 Wall Street, where Trump owns the leasehold, made $17.4 million in 2016, according to CMBS data analyzed by Bloomberg. A 2015 appraisal valuing the property at $540 million predicted that it would generate $22.6 million in annual income.
At Trump Tower, a 2012 appraisal valued the retail and office portion, which 上海夜网论坛