No one wants to live in Trump Tower anymore

Trump tower.
(Image credit: Spencer Platt/Getty Images)

President Trump's Manhattan tower has it all: Central Park proximity, a recognizable name, and constantly heightened security.

It turns out that's not what New Yorkers want in luxury rental. Trump Tower's occupancy rate and selling prices for its condos have dropped dramatically in the last few years, and yet even falling prices can't attract businesses to fill its vacant office spaces, Bloomberg reports.

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Meanwhile, much of Trump Tower's office space is now sitting empty, with once-firm square footage prices now listed as "negotiable." It's all amounted to the tower's occupancy rate falling from 99 percent seven years ago to 83 percent today, Bloomberg says. That's twice Manhattan's average vacancy rate.

While Sklar did tell Bloomberg that "the name on the building became a problem," he also chalked up his condo sale to the fact that taxis couldn't drop his mother off at the Trump Tower door anymore due to heightened security. Disclosures to investors obtained by Bloomberg also show Trump "hasn't spent much money updating Trump Tower in recent years," which only piles onto its undesirability. Read more at Bloomberg.

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Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.