Trump Tower was a prestigious address even before its famous namesake became President of the United States. What’s it like to live and work at this landmark building? And what celebrities and corporations have Donald Trump as their landlord . . . and neighbor?
Key Points
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Trump Tower is in a prestigious location, hosting celebrity tenants and luxury brands. Some have left due to economic problems in the real estate market and controversies about the Trump presidency.
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How Many Trump Towers Are There?
The flagship property of the Trump Organization and corporate headquarters is Trump Tower, New York. It’s not the only skyscraper in the city and in the world with the Trump name, though.
Trump has done licensing deals around the world to use the brand name on other buildings. In addition to the NYC location, there are Trump Towers in Sunny Isles Beach, Florida, Manila (Philippines), Punta del Este (Uruguay), Istanbul (Turkey), and three in India in Kolkata, Pune, and Mumbai. Three more are in development in Delhi (India), Jeddah (Saudi Arabia), and Dubai (United Arab Emirates).
Confusingly, in New York itself there is a second Trump Tower. The Trump International Hotel and Tower is at 1 Central Park West and has other locations in Las Vegas and Chicago. But for this article, we’re focusing on Trump Tower at 725 Fifth Avenue, in Midtown Manhattan.
Stats on Trump Tower, New York
Here’s the basics on Trump Tower:
- Completed: 1984
- Height: 664 feet. The Trump Organization claims the building has 68 floors, but the numbering system skips several floors and the height of the atrium is over-estimated to reach this figure. Most sources say it is 58 stories tall, while others say it may actually only have 48 usable stories.
- Construction cost: approximately $300 million
- Uses: Mixed-use retail, office, and residential
- Architect: Der Scutt
- Style: Modern
- Architectural features: stepped, planted outdoor terraces, a 5-story atrium in the lobby with a 60-foot-high waterfall.
An Exclusive Address
Trump Tower New York is located at 725 Fifth Avenue in midtown Manhattan, one of the most exclusive streets in the world. Other famous landmarks on 5th Avenue include the Empire State Building, the Metropolitan Museum of Art, St. Patrick’s Cathedral, the Guggenheim Museum, the New York Public Library, the Flatiron Building, and the Plaza Hotel. 5th Avenue is also where the rich and famous go shopping for exclusive items at Prada, Tiffany, Gucci, or Bergdorf Goodman. So the building is positioned to attract the attention of the rich and famous.
What Does A Trump Tower Condo Cost?
If you live in Trump Tower, you don’t have to wonder whether your neighbors are millionaires. They all are. Here are examples of current listings on Zillow of condos for sale in the building:
- $1,495,000 – 1 bedroom, 2 baths, 1,137 sq. ft.
- $2,300,000 – 2 bedrooms, 2 baths, 1,115 sq. ft.
- $5,250,000 – 2 bedrooms, 3 baths, 2,222 sq. ft.
- $8,495,000 – 3 bedrooms, 4 baths, 3,496 sq. ft.
In all, there are 263 luxury residential units in the building with a full-time doorman, concierge, and valet service, a fitness center, a library, business conference rooms, and a children’s playroom. Food options include a cafe, bar, ice cream parlor, and a full service restaurant. The building does not have a swimming pool; for that, you would need to live in the Trump International Hotel and Tower instead.
The Most Famous Resident
The most famous tenant of the building is Donald Trump himself. He owns an 11,000-square-foot penthouse on the top three floors of the building. Its estimated value is in the range of $50-60 million.
The residence is decorated in opulent Louis XIV style with 24-karat gold accents, marble floors, and elaborately painted ceilings with Greek mythological themes. Floor-to-ceiling windows overlook Central Park and a sweeping view of the city’s famous skyline.
This was his and Melania’s primary residence from 1984-2019, when they relocated to their Mar-a-Lago, Florida resort. Their youngest son, Barron, continues to live in Trump Tower while he studies at New York University and stays away from the turmoil of Washington.
Other Celebrity Tenants
Due to privacy concerns, a complete list of Trump Tower residents is not publicly known, but we do know that they include:
- Actor Bruce Willis, who paid $4.27 million for a condo in 2007.
- Juan Beckmann Vidal, owner of Jose Cuervo tequila.
- Art dealer Hillel “Helly” Nahmad, who owns two apartments in the tower.
- Vincent Gallo, an acclaimed artist, musician, actor, and filmmaker.
- Guido Lombardi, a real estate investor.
Trump Tower’s Top Corporate Tenant
The first 26 floors of the building are dedicated for offices and retail space. Gucci, the Italian luxury design brand, is the building’s largest tenant and main source of income. The company rents 48,667 square feet of retail space. Until 2019, Gucci was paying $22 million a year in rent but was able to renegotiate it to $15 million in 2019 with a promise to remain in the building until 2026.
Other Recent Tenants
The Manhattan commercial real estate market has been in turmoil in the past decade with the effects of the COVID-19 pandemic, a shift to work-from-home modalities, and fierce competition for brick-and-mortar stores from online shopping. In addition, the controversies surrounding Donald Trump’s presidency have caused some tenants to look elsewhere. Tiffany & Company is an example, choosing to relocate next door rather than remaining in the building. Starbucks and the Commercial Bank of China have also left the building.
Of course, this all means there’s more space for you, if sharing a building with the President is on your bucket list.
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