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DonViejo

(60,536 posts)
Fri Feb 12, 2021, 09:56 AM Feb 2021

As Trump's businesses struggle, the most profitable asset in his real estate empire is at risk


Vornado's Steven Roth is mulling withholding cash flow from two buildings Vornado co-owns with Trump, which could make Trump sell his stake at a discount.

Feb. 12, 2021, 5:00 AM EST

By Gretchen Morgenson, Cynthia McFadden and Anna Schecter

While Donald Trump undergoes a second impeachment trial in Washington, he is also confronting a potent threat to the crown jewel of his real estate holdings, according to a person familiar with the matter.

The threat, involving a highly profitable real estate partnership that generates significant cash for the Trump Organization, is ratcheting up pressure on the former president as his real estate and hospitality operations struggle under hefty debt and vastly reduced revenues, largely a result of the coronavirus pandemic.

The partnership owns two first-class commercial buildings — one on Sixth Avenue in New York City and the other in downtown San Francisco — and it is the single most profitable asset in the Trump empire. The Trump Organization owns a 30 percent stake in the buildings, while its partner, Vornado Realty Trust, a huge public real estate concern in New York City, owns 70 percent.

But now Steven Roth, Vornado's powerful founder and chairman, is considering whether to withhold the partnership's cash flows from Trump, said a person familiar with the matter. Such a move would slash the Trump Organization's cash receipts, and it could force Trump to sell his stake back to Vornado at a discount, leaving him with a smaller gain and eliminating a crucial source of cash.

more
https://www.nbcnews.com/news/us-news/trump-s-businesses-struggle-most-profitable-asset-his-real-estate-n1257456
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As Trump's businesses struggle, the most profitable asset in his real estate empire is at risk (Original Post) DonViejo Feb 2021 OP
Drive trump to madness, North Shore Chicago Feb 2021 #1
Wish I could rec this post a thousand times! llmart Feb 2021 #3
I'm thinking the $250m he raised from the Big Lie is what he's living off right now Fiendish Thingy Feb 2021 #2
I saw this on the NBC Nightly News Friday night. Thank you for posting this, because mahatmakanejeeves Feb 2021 #4
Spotlight on world's tiniest violin. nt crickets Feb 2021 #5
I long ago predicted Trump will sell Trump Tower in NYC WarGamer Feb 2021 #6

North Shore Chicago

(3,253 posts)
1. Drive trump to madness,
Fri Feb 12, 2021, 10:00 AM
Feb 2021

remove or dwindle his cash flow. Watch them all squirm, it won't be about lack of morals, it won't be about illegal activities, it won't be his treasonous acts.

Take his money, that is his only power.

llmart

(15,499 posts)
3. Wish I could rec this post a thousand times!
Fri Feb 12, 2021, 11:16 AM
Feb 2021

You can't hurt someone who's a malignant narcissist/sociopath like he is by public humiliation, embarrassment, or any of the other things a normal person would be affected by. The only thing he's ever had going for him was the money. Do you think any of those people he hung with would have ever had anything to do with him if not for the money? He has no real friends.

So, yes, take away his money. However, I want the whole, slam damn family broke and that includes slumlord Kushner.

Fiendish Thingy

(15,361 posts)
2. I'm thinking the $250m he raised from the Big Lie is what he's living off right now
Fri Feb 12, 2021, 11:11 AM
Feb 2021

If the criminal prosecutions don’t get rolling until late spring/early summer, he may be broke by then and not able to even afford a top notch lawyer like Bruce “Nebraska is a judicial thinking’ place” Castor...

...and then a big chunk of his loans come due.

It’s so sweet when you can see just how the Karma Storm will form...

mahatmakanejeeves

(56,884 posts)
4. I saw this on the NBC Nightly News Friday night. Thank you for posting this, because
Fri Feb 12, 2021, 08:26 PM
Feb 2021

I would not have been able to post the thread through all the tears.

WarGamer

(12,103 posts)
6. I long ago predicted Trump will sell Trump Tower in NYC
Fri Feb 12, 2021, 08:44 PM
Feb 2021

He claims it's worth $2b which is laughable... I've seen real estimates of $500M

But don't be surprised if some Saudi Investment group comes along and pays him a billion...

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