Unit owners in the Upper West Side building, a 46-story tower at 200 Riverside Boulevard, were informed of the decision to remove the signs Wednesday afternoon in an email from the condo board. Previous year the name was abandoned by the former Trump SoHo condo hotel, and three buildings near 200 Riverside have already shed their Trump Place signage. The judge concluded that the decision should be made by the building's condo owners, adding, "the court does not find any of defendant's arguments convincing".
Trump co-developed the condo building and five others at Trump Place two decades ago. Almost 70 percent of the condo owners who voted said they wanted to "remove the signage" on the building.The board estimated it would cost about $23,000 to remove the 20 letters from the building and wash the facade.The Trump Organization's contract to manage the condo building expires at the end of 2019.
The Washington Post's David Fahrenthold noted on Twitter that 200 Riverside Boulevard is the seventh Trump-branded building to have the president's name removed since 2016. The removal, according to Gothamist, will cost the building an estimated $23,000, on top of what has been reported as over $200,000 in legal fees for the residents spent fighting the Trump Organization. Trump no longer owns the buildings. Hotels in Toronto and Panama City have quit the Trump brand and Thursday's ruling could open the door to other Trump-named condos around the city doing the same. The agreement required that the condo maintain the building on par with "superluxury condominiums", but it did not mention any requirement that the Trump name remain on the building in perpetuity.
Lawrence Rosen, an attorney for the Trump side, said he would consider appealing, however, he never appealed by the October 1 deadline.
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The Trump Organization threatened the condo board with a lawsuit a month later.
Last week, approximately 70 percent of owners voted to remove the sign - costing approximately $1,150 per letter.
Trump apartments in 2017 sold for an average of $1,741 per square foot in Manhattan, or 6.6 percent less than the average Manhattan condominium, according to CityRealty, an online apartment broker. "That trickles down into real estate".