Tiffany's announced they will not be renewing their $7 million dollar annual lease with The Trump...

[demmiblue]

Tiffany’s announced they will not be renewing their $7 million dollar annual lease with The Trump Organization. That will leave them with an empty ground floor retail location located around the corner from its marquee Trump Tower.

Link to tweet

[msfiddlestix]

1. Golly gee, took them long enough.

Have to ask why in the hell it was the Trump brand viewed as profitable before now?

geeze.

[lisa58]

2. Probably the length of their lease - I would like to know for sure

[msfiddlestix]

4. I figured it was, but it slipped my mind that people with money have several year contracts..

My low income perspective is limited to one year leases.

But I suspect you're correct. an expired five or twenty year lease or whatever.

[Blue_true]

57. Commercial leases in big cities generally run for ten years. nt

[JI7]

5. Location might have been a reason also but I'm not familiar

with NY .

So if location was the reason and they are still leaving it's because the Trump name has become shit.

What should be a good location loses value because of Trump name attached to it .

[Lucky Luciano]

10. Even if tr$&p wasn't a fat nazi piece of shit, leasing next to him was bad.

All the security, fences, secret service, etc. must have been bad for business. I used to work two blocks from there and I avoided that block for that reason and the fact that I hate that nazi piece of shit!

[George II]

21. It's at the corner of E. 57 Street and 5th Avenue, a really really prime location.....

But it looks like it has been a temporary location for a few years while their flagship store was being renovated.

I wish it was because he's such a butthole, but I'm sure the move was planned well in advance.

https://www.bloomberg.com/news/articles/2021-02-19/tiffany-vacancy-looms-for-trump-in-weak-midtown-manhattan-market

[karynnj]

17. I think it might be the length of their lease while Tiffany's was remodeling

Tiffany's is next to Trump Tower and they moved their sales floors to the rented space - I know this was the case in February 2020. This was to allow a major renovation without closing and it was convenient that it was essentially next door. I think they moved everything overnight. I would guess they are finished with the renovation.

[George II]

22. Yes, it was a temporary location. Disappointing, but the move was going to happen anyway.

[Blue_true]

56. It was the length of the lease. Leases in big cities normally run for ten years.

The lease term was likely coming up for renewal, or walk away. Tiffany chose to walk away. My guess is the company has it’s own space or is set to lease from a landlord that isn’t a criminal, traitor and all around scumbag.

[Blue_true]

55. A company can't just walk out of a commercial lease.

The company signed a legally enforceable contract. It had to wait until the lease term was to expire, at that point the landlord can be informed that the lease won’t be renewed.

[Stargleamer]

3. Now I can have Breakfast at Tiffany's again n/t

[Trueblue1968]

14. WAH!!! WAH!!!1 I really don't care do you?

I don't give a rats patootie if trump loses $3,587,384,923.00 cuz Tiffany's is leaving him ..... do you?

[malaise]

73. You win the thread

[Blue Owl]

6. Womp Womp

Suck on it Donny you fat piece of shit

[dhill926]

47. that is so direct and spot on...

made me laugh my ass off....

[dawg day]

7. Wonder if Hank is still going to be available?

Wink wink.

[OMGWTF]

66. My thoughts exactly!

Also, too, L to the O to the L! Traitor Tot's name is garbage now and for all eternity. Mary Trump said she's changing her last name.

[onethatcares]

8. maybe, just maybe

they can work out a deal.......we all know how good that guy is at that stuff.....

[kskiska]

9. Will Tiffany Trump have to change her name now?

[hatrack]

19. Hope not. "Bergdorf Trump" doesn't quite have the same lilt, does it?

[TheBlackAdder]

37. Change it to . . . Tiffany [Insert Real Father's Surname Here]

[Aristus]

48. I was thinking "Space For Rent Or Lease".

Or is that reserved for her step-mother?...

[greatauntoftriplets]

53. Dollar Store Trump has a nice ring to it.

[Dem4Life1102]

61. She will now be officially known as

The other daughter, the one I don’t want to f*ck Trump.

[Roy Rolling]

11. How On-Brand is That?

The Trump brand is so radioactive now that stellar brands like Tiffany are damaged just by association. They located next to Trump thinking it would add value, instead they must move before they’re sucked down the black hole that is Trump world. ETTD.

[dhol82]

20. Tiffany's was in that location on 57th and Fifth long before trump.

That picture shows what looks to be an extension into the old Bonwit Teller department store. That location was bought by trump with the proviso that the historically valuable architectural pieces at the entrance would be preserved. He trashed them. Typical.

Just checked and they moved into the location n 1940.

[edhopper]

30. I believe that is the old

Nike Town location.

[dhol82]

33. That is the old Bonwit Teller building. It's on 57th next to the Tiffany building

[edhopper]

39. Yes

but they tore that down and built Niketown. The bidg Tiffany's is in now is the former Niketown.

[dhol82]

34. I believe the Nike Town was located on the north side of 57th.

[edhopper]

40. Nope

that was it, I worked on the interior decorative painting.

[dhol82]

62. So it was Nike Town before Tiffany's took over the space?

[edhopper]

63. Yes

[karynnj]

25. They located next to Trump???? Tiffanys was there decades before Trump moved there

He bought a landmark building from Bonwit Teller, a department store> He agreed to save the façade which the NY Metropolitan Museum wanted, but destroyed it instead -- because it was cheaper.

https://www.forbes.com/sites/michaellisicky/2020/10/03/how-donald-trump-took-down-bonwit-teller-a-fifth-avenue-landmark/?sh=3b2148ce5f69

[edhopper]

32. This not their landmark bldg

it is the former Niketown, which they took over. Tiffany's will stay at Tiffany's.

[karynnj]

44. They were renovating their own sales floors in the Tiffany building

The lease was in a conveniently available part of the Trump building. Obviously, Tiffany always intended to return to their own building.

The building Trump bought and then built Trump Towers was also a landmark building.

[edhopper]

49. That was Bonwit Teller

no officially a Landmark. But should have been.
And Trump destroyed some art along with it.

https://www.forbes.com/sites/michaellisicky/2020/10/03/how-donald-trump-took-down-bonwit-teller-a-fifth-avenue-landmark/?sh=7837ec855f69

[Karadeniz]

12. Perhaps another Chinese bank? Alfa Bank?

[Trueblue1968]

15. i bet a sex toys shop moves in !!!!!

[speak easy]

16. How about a crematorium

for spare dollar bills?

[Karadeniz]

18. Aaagh! Maybe, if they give him free samples...

[Oldem]

31. Porno production. He won't have to go far for a date.

[NCjack]

46. Trump will force the RNC HQ to move in and pay more than $7M

[DENVERPOPS]

70. Trump's other business is money laundering.

Buys it for 20 and sells it to a Russian Oligarch for 100, then gives the Russian Oligarch back 60......And then somehow writes it off as a loss on his Taxes......

Isn't that what Trump did with a mansion down in Florida a few years back?????

Maybe some CPA in the audience could educate us.......

[LiberalFighter]

13. Was it really worth paying $7 million?

[dhol82]

24. Rents in NYC are freakishly high

Heard that the Victoria’s Secret location on 34th Street was running almost one million/month.
They want out.

[karynnj]

28. I think it was a relatively short lease and its location made it optimal.

Tiffany's was renovating their sales floors and were able to move everything there for the duration.

[Grasswire2]

23. wasn't there talk of Melania and an employee of that store? nt

[dhol82]

26. Yup - the chief of security.

Wonder if that’s still on?

[enid602]

27. stiffed

I heard Melania stiffed the Director of Security for all the times he serviced her. A proud family tradition.

[nevergiveup]

29. It would be a hell of an expansion location

for Four Seasons Total Landscaping.

[karin_sj]

35. Thanks! This made me laugh!

[ChubbyStar]

36. Maybe 4 Seasons Landscaping can move in?

Perfect!

[lpbk2713]

38. Another abandoned Trump property.

I love it. The Trump name is radioactive.

[48656c6c6f20]

41. Best way to get "it" back.

Death from a thousand paper cuts. Destroy everything it owns, related to it, makes money for it, or is associated with it.

[RANDYWILDMAN]

42. leave that bum ,penniless

and his offspring as well ,except Barron who has done nothing wrong

[Brush Bunny]

43. Well,that makes 31 million

Diaper Don has lost just today. 24 for the City of New York's Ice Rink Operation and now Tiffany's for 7.

Golly Gee Willikers,who would have thunk.

[keithbvadu2]

45. No sweat! My Pillow can take the lease. C'mon, Mike.

No sweat! My Pillow can take the lease. C'mon, Mike.

[liberalguilt57]

50. How might this affect Melania's (alleged) relationship w/her Tiffany's BF

Wonder what this might do to the alleged relationship between Melania and her Tiffany’s employee boyfriend. She has long been rumored to have a special friendship w/ Hank Siemers, vice president of security for Tiffany’s.

[COL Mustard]

51. More Cancel Culture?

Or could there possibly be some other reason?

Asking for a friend......

[3catwoman3]

52. Sort of OT - I've always thought it was rather...

...trite and tacky for Marla Maples to name her daughter Tiffany.

[Haggard Celine]

71. Very tacky.

Might as well have named her Candy.

[In It to Win It]

54. I always thought Tiffany's owned that building

[kskiska]

59. Tiffany owns the building next door, corner of 57th St.

The Trump is building built over their airspace, though. As I understand it, Tiffany was renovating their store and had moved temporarily into space in the Trump building. Now they're moving back into their own building.

Here's the story:
https://www.orlandosentinel.com/news/os-xpm-1987-12-30-0170150271-story.html

[In It to Win It]

60. Ah, that makes sense.

I misread

[Princess Turandot]

58. Oy. Tiffany's has been in their iconic store since 1940. The tweet concerns a different building..

The property that the tweet refers to is 6 E. 57th Street. It is part of the city block bounded by E. 56th Street, Fifth Avenue, E. 57th Street, and Madison Avenue. (Trump Tower is on Fifth Avenue and 56th.)

The Trump Organization has a long term ground lease on 6 E. 57th, which they had previously rented to Nike Town. That property is next door to Tiffany's own building, which is on the corner of Fifth and 57th. Tiffany's is currently renovating their facilities, and as a result, leased 6 E. 57th when it became available to use as swing sales space while construction is going on. Their lease runs out at some point in 2022, which is when they expect to reoccupy their own store. Thus, they have no intention of extending the lease for 6 E. 57th.

So, the reviled Trump now needs a new tenant. That's the story.

You can see the buildings in Street View here, looking east on 57th Street from Fifth Avenue: https://goo.gl/maps/FDJxJAPYSj7PSh9e9

[lark]

64. Maybe the My Pillow guy will open up a retail shop.

No one else would go there.

[oldsoftie]

67. Hahahahahahahaha! Some of these responses are just priceless. nt

[ProfessorGAC]

72. Not Even Close!

I know you're joking, but for reality:
At a million a month, MP's net margins would be nearly zero.
Best analysis is that they net $9-10 million on $152 million in revenues.
The higher expenses reduces the tax load, so the entire company would end up around zero net.
His company is not the industrial titan he pretends it is.

[BobTheSubgenius]

65. Planned in advance or not, it's still gotta hurt.

How many retail operations - which is what that location is suited to - can or would pay $7M a year? A Kanye vanity project? Seems to touch all the bases. Or are they still/again feuding?

I hope the space is incredibly hard to rent. $7M a year won't be easy to replace, and his cash flow can't be what it used to be. Level of scrutiny has gone up, too.

[BradBo]

68. Still seeing all the nasty characters on the media from the Trump regime.

It’s super fun to see an article like this!

[mdbl]

69. They can just fill up the space with Ivanka's crap

There is plenty of magat voters to shop there.

[oldsoftie]

74. After reading these responses, I think DU needs an online comedy show.

Some of you guys are hilarious