The condo board of the glass tower at One Central Park West on Tuesday voted unanimously to retain the Trump name on the signage at the front of the building, the New York Post reports. However, the word “tower” will be removed from the marquee over the front entrance, to be replaced with the building’s address. As 6sqft previously reported, as part of a larger renovation of the Trump International Hotel and Tower in Columbus Circle, the Trump Organization was reconsidering its heavily-branded signage, and some building owners say Trump’s polarizing presidency is depreciating the value of their investments.
The president’s eldest son, Donald Trump Jr., proposed the change as a compromise to appease building owners without losing the Trump branding entirely. The nine-member board, which includes Don Jr., debated the sign changes for three months.
Even as many Trump buildings across the city are voting to remove the president’s name from their properties, One Central Park West has been considered “untouchable,” in part for its symbolic value to the family—it was the first hotel to bear their name. The legal name of the building will remain the Trump International Hotel and Tower.
Don Jr. said in a statement: “The signage and port cochere will all be contemporized and relit. We will revitalize the landscaping and the common areas and add life to the lower level façade with lighting. It will be cleaner and more contemporary.” Trump Jr. said the board was happy to update the signage to add the address because it’s “the best address in the world.”
CityRealty‘s recent analysis of residential sales at the building shows the average price per square foot falling 29 percent between 2015 and 2018. There are currently 20 apartments for sale and more than half have had their prices chopped. According to Rebecca Mason, managing director of CityRealty, “It remains a very desirable building for international buyers.”
[Via NY Post]
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