After months of being on the market, the Manhattan pad of President Donald Trump’s daughter and advisor Ivanka Trump just won’t rent, despite three substantial price chops. The first daughter first purchased the two-bedroom, two bathroom condo at 502 Park Avenue in 2004 for $1.5 million. Upon her father’s election, Ivanka listed the apartment at Trump Park Avenue in November for $15,000 per month. In February, the price dropped to $13,000 per month. On Tuesday, the asking price was $10,450 per month, a 30 percent price cut since the presidential election, according to Bloomberg.
502 Park Avenue
The penthouse at Trump Park Avenue has been on and off the market for an entire decade, first listing for $45 million in 2007, and now returning for $35 million. As LL NYC reports, the President transferred ownership of the 6,278-square-foot apartment in January to the Donald J. Trump Revocable Trust, of which he’s the exclusive beneficiary. The massive duplex is as ornate as you’d expect from Trump, complete with 22 arched windows, custom tray ceilings with intricate moldings and dripping crystal chandeliers, bathrooms bathed in marble, and two large terraces with panoramic views.
Ivanka Trump’s Park Avenue starter pad, still without a buyer, gets a rental price chop to $13K a month, Fri, February 24, 2017
As 6sqft previously reported, Ms. Trump and husband Jared Kushner, now senior adviser to President Donald Trump, first listed their apartment at 502 Park Avenue for $4.1 million in December; Ivanka purchased the home for $1.52 million in 2004. The classic and somewhat girly Park Avenue pad with Tiffany-box blue walls has also been on the rental market, first at $15K and, as Mansion Global reports, just reduced to $13,000 a month. Ivanka also owns one of the building’s penthouses–it’s the Trump/Kushner family’s main home when they’re in town– that she bought for $16 million nearly six years ago.
It looks like America’s next first daughter—and quasi-first lady—is looking to slim down her real estate holdings. As Luxury Listings NYC first reports, Ivanka Trump has just listed her apartment at 502 Park Avenue for $4.1 million. The somewhat bland spread hosts two bedrooms and two baths and is outfitted in a palette of cream and powdery blue hues. Although one might think the sale has something to do with her father‘s recent presidential victory—as not even two weeks ago, CNN reported that she and husband Jared Kusher were house hunting in Washington D.C.—Ivanka, in fact, also owns one the building’s penthouses, which she bought for $16 million nearly six years ago. It’s also been no secret that the Trump/Kushner brood has been mulling a move into the Puck Penthouses, one of Jared’s beautiful ultra-luxe developments.
When you have $1.4 billion in assets, $21 million is a drop in the bucket, but the Wall Street Journal reports that’s what Donald Trump just got for the sale of his penthouse in his namesake building Trump Park Avenue. The apartment is not too exciting, but it does boast 6,200 square feet, ten-foot ceilings, five bedrooms, seven-and-a-half bathrooms, and a private elevator.
Trump bought the full-floor penthouse in 2002, when his company converted the Upper East Side building to condos, but never lived there. It first hit the market back in 2013 for $35 million and most recently got a price chop to $24.99 million.
It looks like Trump Park Avenue‘s Penthouse 31/32 is still looking for a buyer, a year and a half after a chopping $10 million off of its $45 million asking price. This 6,278-square-foot duplex has such a storied past on the market, you practically need an ESPN commentator to narrate it Kentucky Derby style. It made its first showing in 2007, asking $45 million. It raised the price to $51 million in 2008, after renovations. It returned in 2009, after another hiatus, asking a much lower $31 million. Then it disappeared for a few years before reappearing in 2013 with its original price tag of $45 million. Three months later it slashed $10 million off the price, landing at $35 million. Will this lavish home ever find the perfect owner with the perfect wallet?