News That Will Drive You To Drink

Happy Hour News

(Hat tip: Scissorhead Skinny-D)

4 Trump buildings in NYC, part of DA’s probe, also grapple with slumping profits

Donald Trump’s premier New York City real estate holdings — once the foundation of his fortune and fame — have increasingly become a problem for the former president.

Part of the reason is COVID-19, which has taken a toll on many landlords. Yet the hit to Trump’s New York real estate operations is harder than the rest of the industry has experienced, and it comes after years of financial underperformance by the Trump Organization properties in some of the city’s swankiest neighborhoods.

Indeed, last year marked the fifth year in a row in which the four most prominent Trump-owned buildings in Manhattan, including the Fifth Avenue Trump Tower made famous by “The Apprentice” TV show, missed lenders’ earnings expectations, according to a CBS MoneyWatch review of publicly available documents.

The article goes on to note the 4 properties are all on something called a Debt Watch List —at various banks, with various different names— which is essentially an underperforming property that might not be able to make its mortgage and loan payments.

Lord Damp Nut’s going broke, and what makes it so snarkily delightful is that any debt forgiveness counts as taxable income, which he also cannot afford.

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8 Responses to News That Will Drive You To Drink

  1. Astamari says:

    Way overdue, of course. Trump has poisoned the political culture with the full backing of the GOP and his real legacy maybe a massive restriction of the voting franchise, the greatest since the end of Reconstruction. He is a cursed president who truly needs to experience prison.

    Liked by 2 people

  2. R White says:

    Fat nixon’s phallic tribute to his fragile ego here in Chicago is losing money hand over fist…

    https://www.chicagotribune.com/nation-world/ct-wp-trump-tower-20191105-arjnetoxijdkdkkjzpbiea3i6m-story.html

    Liked by 2 people

  3. Dennis Cole says:

    What about the $1.6 beelyun Ameos he reported as income during his stay? And Jared and Vanky got another $1.5 beelyun or so, and I believe it’s parked firmly offshore somewhere we’ll never see it again.
    And doesn’t he have “floors and floors” of highly-specialized real estate accountants and Lawyers, who are “the best at what they do”, to help him try to obfuscate himself outta this dilemma?

    His (extra-)legal shenanigans will garner deeper scrutiny than any other preznit before this, and quite likely become the apex, as it were, of any examples of such maladroit malfeasance, that could ever surface in the future.

    Liked by 2 people

  4. Jimmy T says:

    Well I was really proud of America when wee the people threw the lying SOB out of office. Now watching him go broke is the cherry on top. Yeah talk about your cancelled cultural elites…

    Liked by 2 people

  5. Richard Portman says:

    I don’t know wotthehell we are going to do with those ugly buildings. Even salvaging the materials will be bogus and corrupt. Shame on that monster. Maybe, when he finally dies, we can put him in one of those ego monuments and blow the whole thing into dust, like we do with an old Las Vegas casino. Shame on him, and shame on us for allowing him to do it. I hope they cry. I’m still pretty angry.

    Liked by 1 person

  6. Ten Bears says:

    If we are fortunate, his real legacy maybe as ~ good, bad or indifferent ~ a catalyst for change. He has brought out the worst in us, exposed the raw underbelly, leaving us with opportunity to turn it around, make things better. Wither or no we do so …

    I’m not here to praise it, I still and always will as an old Outlaw get a chuckle out of all it had to do was keep its head down and its mouth shut and everything would’ve been groovy. But no, just had to be pretendident, just had to attract attention to itself. Not praise~ a eulogy.

    Yes, “it”.

    Liked by 1 person

  7. donnah says:

    I guess there just aren’t enough rich Republican sycophants out there to prop that former guy up now. Maybe he’s finally getting the disinterest he so richly deserves.

    Liked by 1 person

  8. Bruce388 says:

    The most amazing failure to me is the former guy’s D.C. hotel. All those foreign diplomats and business people were highly encouraged, if not threatened, to stay at that hotel. Any MAGAts with money have been brushing the rodent droppings off their meals at the restaurant and staying in those overpriced rooms. The former guy had that grift going for four years and he’s still been losing his XXXXL shirt on it.

    Like

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