The Truth About Donald Trump’s Many Real Estate Challenges
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The drop in income should come as no surprise, as the Trump Tower has had problems collecting rents from those who rent office space. A company, Marc Fisher Footware, which made Ivanka Trump-branded footwear and occupied the 22nd and 23rd floors of the building, owes $ 1.4 million in retroactive rent, and the Trump Organization is currently in litigation in an attempt to get the money. back (via HuffPost). Another tenant, Marcraft Clothes, who once rented the 18th floor of the building, owes $ 664,000 in rent but has gone bankrupt. A third tenant, Legacy Business School, once had Kardashian-Jenner matriarch Kris Jenner as president. The Washington Post reports that the school’s tuition is higher than Harvard’s – but that hasn’t stopped the school from racking up $ 198,000 in rent and running costs for Trump Tower.
That’s not to say the Trump Tower doesn’t have tenants – The Post notes that the retail space in the Trump Tower is still occupied by Gucci, and Trump’s management is raising $ 85 per square foot for 5 490 feet of space from Trump’s PAC. – or at $ 37,541 per month. While the office space is large enough to hold around 30 people, the PAC would only have three hires – and they all work from home.
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