Trump Tower, which has 238 condo units, offers amenities such as valet and maid service and a 24-hour concierge, according to marketing documents. Its location on Fifth Avenue between 56th and 57th streets puts it in a prime spot in one of the world’s busiest shopping districts and two blocks from Central Park. Yet it’s also close to newer condo towers that have apartments available for wealthy renters, such as One57 and the Baccarat, without the security headaches.
“It’s a luxury building, and if you have a car service come pick you up and it’s pouring rain, and you have security checkpoints, you’re looking at walking around the block,” said Jonathan Miller, president of Miller Samuel. “It’s a layer of inconvenience on top of a building that’s got a good location. But you’re adding this complication for day-to-day accessibility.”
Services Hit
Trump Tower tenants report that services like Seamless food delivery have been curtailed and dry-cleaning dropoff is difficult, said Joseph George Jr., a broker with Vision Realty Co. who has a listing on the 39th floor seeking $10,000 a month in rent. But Trump’s ascendancy means that George has been getting more calls to look at the renovated two-bedroom apartment he’s marketing -- even from those who are just curious to get a peek inside the building.
“The questions they ask you -- you can tell if this is a voyeuristic showing rather than a real showing,” George said in an interview before Trump’s inauguration. “People ask, ‘Is he on the elevator?’ Questions where you can kind of tell they’re not serious.”
For those who are serious, the application is similar to other area condo buildings where units are leased out. Would-be renters submit to a credit check, a criminal background review and an assessment of their personal finances, and must be approved by the condominium’s board, said broker Julius A. Liu, whose firm, NY NY Condo Inc., manages and rents several units at the building on behalf of overseas investors.
Building Safety
Liu, who listed a one-bedroom Trump Tower apartment in November, decided that the best course of action was to be upfront with would-be renters about the security hassles. He told them they’d be questioned in the lobby, and to prepare to have their bags searched. He figured the extra security could appeal to select people-- those who handle cash, for instance -- even as he conceded that it might turn off many others.
“It’s an inconvenience to some, but there are people who say, ‘You know what? This is the safest building in the city now,”’ Liu said. “You can’t get any safer than where we are now.”
Liu priced his unit at $6,500 a month -- less than he would have a year ago -- and his calculation paid off. He found a taker who was approved by the condo board this month and moved in last week.