Reports: Trump Organization properties see profits decline, no longer desirable to tenants

WASHINGTON — The Trump Organization consists of over 500 different business entities around the world that constitute most of Donald Trump’s wealth. Recent reports, though, suggest that Trump Organization properties have been suffering since Trump was elected president.

Trump turned over control over his real estate holdings to a trust controlled by his two sons, Donald Jr. and Eric, in an effort to comply with ethics regulations once he was elected. This hasn’t stopped the Trump Organization properties from being a source of controversy since Trump was elected, though. 

Yesterday, Bloomberg noted that Trump Tower had been wracked by financial woes over the last two years. The occupancy rate in the building had fallen from 99% to 83%, and the majority of condos in the building had sold at a loss. 

“No one wants in that building,” Michael Sklar, a former Trump Tower condo owner, told Bloomberg.  

Trump’s losses: Most Americans think Trump is a successful businessman. Until they learn about his losses.

Promises to insulate from busines: Did Trump keep his 19 promises to insulate himself from his business? Only he knows.

Congressional investigations: Trump’s lawyers question Congress’ power to investigate him, battle House over demand for financial records

And this morning, the Washington Post reported that the Doral resort in Miami, Fl., previously the most money-making property in the Trump Organization, had seen its net operating income decline by 69 percent from 2015 to 2017, or from $13.8 million to $4.3 million.

These reports come as the Trump Organization has seen its fortunes decline nationwide as controversies swirl around its namesake.  

“Being president has cost me a fortune — a tremendous fortune like you’ve never seen before,” Trump said to reporters last year. 

Another Trump property, the Trump International Hotel in Washington, D.C. is the subject of several lawsuits challenging the constitutionality of Trump’s holding the property.

In one such case, D.C. and Maryland v. Trump, the state of Maryland and the District of Columbia allege that the Trump Organization’s ownership of that hotel is an infringement of the Emoluments Clause, an obscure provision of the Constitution that prohibits the president from profiting off of his or her position. Litigation continues on that lawsuit. 

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