Eric Trump: ‘Location, Location, Location!’

Grifters Gotta Grift

Making America Dumb Again

WSJ:

President Trump’s real estate business is considering unloading its opulent Washington, DC, hotel, a move it says is motivated partly by criticism that the Trumps are flouting government-ethics laws by profiting from the property. The family business, the Trump Organization, has hired the real estate firm JLL to market rights to the Trump International Hotel, Eric Trump, an executive vice president of the company, told the Wall Street Journal.

The Trumps don’t actually own the hotel, which is the former Old Post Office, but lease it from the federal government. With extensions, the lease runs close to 100 years, and a new owner could control the property well into the next century.… The company is hoping to fetch more than $500 million for the lease rights, or a price of about $2 million a room key, people familiar with the matter say. That would make the sale one of the highest-priced hotel deals ever by this popular industry valuation metric, according to data tracker STR Inc.… Revenue at the Washington hotel rose by about $400,000 to $40.8 million last year, according to the president’s financial disclosures in May.

“People are objecting to us making so much money on the hotel, and therefore we may be willing to sell.” — Li’l buddy Eric.

Um, actually, people are objecting to Daddy Dearest violating the Constitution. And I’m willing to bet that the Trump Org, besides taking the cursed name off of things, is also considering how that DC albatross is going to bankrupt them once its namesake is impeached, and the emoluments stop flowing into the ol’ grifter’s wallet.

Amiright, Eric?

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18 Responses to Eric Trump: ‘Location, Location, Location!’

  1. julesmomcat says:

    “GHNL” – Greed Hath No Limits.

    Liked by 2 people

  2. Astamari says:

    Pretty sure that the GSA does not permit sub-lets. The way it works is you give up the lease to the GSA and they implement a new competitive tender.

    Liked by 3 people

    • Dennis Cole says:

      Doesn’t mean you’d have to disclose that info to any potential buyer, amirite? Best-case scenario? Grab the cash and make your dash; worst-case? Those striped prison jumpsuits are liable to make tRump look even fatter than he is.

      Liked by 1 person

    • These Public Works of Art Project sites should have never left the commons. It makes me grind my teeth just thinking about it.

      Like

      • Astamari says:

        I remember when the Old Post Office Building was still…a post office.

        Liked by 1 person

      • MDavis says:

        I still think trump should have been charge full price plus damage (triple) for promising to preserve public art and then destroying it. Was that this building? Were there more than one instance of that? I don’t remember.
        Oh, here it is, just one that made this list.
        Art Deco bas-reliefs, Bonwit Teller building
        Asshole promised to donate them to the Metropolitan Museum of Art, but the brief makes no mention of that being a condition of sale – so probably not. Then, rather than any regret that it was too hard he just says, basically, “what are you crying about? It wasn’t real art anyway.” and he finished tearing the building down and put up that dawg-awful trump Tower in it’s place. Sheesh.

        https://www.artsy.net/article/artsy-editorial-6-iconic-new-york-artworks-that-were-destroyed

        Liked by 1 person

    • dunno about the GSA, but the NPS, on historic tax credit projects, require the original developer/Owner to maintain ownership for a minimum of 15 years. Selling the property, or pieces of the properties, invalidates the tax credits which will then be nullified if they have not been claimed, or clawed back if they have been claimed. That’s why historic adaptive reuse or restoration projects are never turned into condominiums; the tax credits are not able to pass through. This project was a MAJOR historic tax credit project; in fact, Trump’s bad taste imperiled the NPS approval several times during the process.

      Liked by 1 person

      • tengrain says:

        Thanks ZRM, that was really interesting to learn. Folks, for those of you who do not know, our Zombie is an architect (or architect-adjacent) and he can speak with some undead authority on these matters.

        Rgds,

        TG

        Liked by 2 people

      • (as the joke goes, where did the zombie get the water for his coffee? a Well, actually….) in truth, and against all expectations, I am a fer-real Architect, with a License and all since 1995! Been on my own shingle since 1997. Specializing, as much as I do on anything, in undead buildings, bringing them back to lurching, shambling life as tony lofts, offices, and retail spaces. Also, revitalizing neglected urban neighborhoods. Historic adaptive reuse is particularly in my wheelhouse, with several hundred living units being created out of abandoned industrial buildings throughout Wisconsin.

        Liked by 3 people

      • MDavis says:

        Liking this a lot.

        Like

  3. Sean666 says:

    so which Russian Oligarch or middle eastern billionaire is going to step up and put a few hundred million bucks in rumps pocket? And what’s it going to cost the rest of us???

    Liked by 1 person

  4. MDavis says:

    If they “sell” this lease off to avoid the emoluments scandal eruption, doesn’t that just make it a different category of emoluments?

    Liked by 1 person

    • tengrain says:

      They’ve already accepted the bribes, so it has to be that they want to get out from under the lease before it clobbers them.

      Rgds,

      TG

      Liked by 1 person

      • MDavis says:

        This is probably the best news I’ve heard all day. Trumps are worried? They’re getting their name off their properties? It’s too soon to relax, but I might let hope in for a little nosh later in the day.

        Liked by 1 person

  5. “This beautiful hotel can be yours. All you have to do is give us 100% of your revenues for the first 12 years. Such a deal!”

    Liked by 3 people

    • Dennis Cole says:

      But what if I have to launder foreign funds for longer than that? Can arrangements be made, because that kind of deal would work perfectly in my situation.

      Liked by 1 person

  6. HarpoSnarx says:

    I read the krime klan has gathered at Camp David for First Shady & Fratsputin’s anniversary. I foresee a really awesome land deal coming!

    Liked by 1 person

    • tengrain says:

      It’s a rustic retreat, so I’m not sure that “Latrines by Ivanka” would be a smash success in future branding endeavors.

      Rgds,

      TG

      Liked by 1 person

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