Before a crowd of spectators, “Trump Place” was forcibly pulled down from the soaring condo complex at 200 Riverside Boulevard on Thursday. This is the third building in this neighborhood to remove Trump’s name. Now, the 46-story building will simply be known by its address.
New York isn’t the only place where Trump’s named is being erased from properties. Several Trump-owned golf courses and hotels have already dropped their licensing rights for the name, reports CBS News.
The Trump name has lost a lot of brand appeal since The Donald became president of the United States, as previously reported by the Inquisitr. Trump has lost about $1 billion in revenue over the past two years. Trump merchandise went from generating $23 million in revenue in 2015 to a paltry $3 million this year, evidence that the Trump brand has lost a lot of its former appeal. Trump famously bragged while campaigning that he could earn money as president, a boast that has proven to be wholly incorrect.
In fact, it looks as though the Trump name is having the opposite effect: it’s losing revenue, not increasing profits.
The residents living at 200 Riverside Boulevard expressed concerns that the Trump name would affect the resale value of their units at the building. The name of the building has been a topic of discussion at condo meetings since Trump began campaigning for the presidency. Residents circulated a petition to change the name last year and took it to the building owners, a move that prompted a legal battle.
The Trump Organization fired back by trying to enforce the building’s licensing contract and put a stop to the re-naming issue. But the fight didn’t end there, as the matter went to court.
After a judge ruled in May that the Trump Organization was wrong in asserting the contract that obligated the building to bear the Trump name, the residents were free to formally vote on the issue. Almost 70 percent of condo owners in the building voted for the change.
It will cost the building an estimated $23,000 to remove the letters and have the facade cleaned.
The building is part of the Riverside South project, a development deal Trump worked on for decades in planning and promotion. He wanted to call the entire area Trump City, according to Fortune. Now, the Trump name is slowly disappearing from the buildings here.
The Washington Post reported that spectators cheered as the letters were pried off the building by crane Thursday morning.