Trump said in 1985 that there were more than a hundred stores wanting to move into a space in the tower. One writer for Vanity Fair magazine noted that as tenants were evicted from the tower’s atrium due to high rents, several of them sued the Trump Organization for issues such as overbilling and illegal lease termination. By 1986, between 15% and 20% of the tower’s original stores had closed or moved to another location. The commercial rents were the highest of any building along Fifth Avenue at the time, with retail space in the atrium costing $450 per square foot ($4,800/m2) per year.
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In 2016, the tower’s value dropped from $630 million to $471 million due to a 20% reduction in the tower’s operating income and a further 8% decline in the overall value of real estate in Manhattan. After Trump launched his 2016 presidential campaign at Trump Tower in 2015, the number of visits to the tower had risen drastically, with many of the visitors being supporters of Trump’s candidacy. 10,996 square feet (1,021.6 m2). Stores in the atrium sold campaign memorabilia such as hats, with the proceeds going toward funding his campaign.
1881 work by French Impressionist artist Pierre-Auguste Renoir. By then, the Renoir copy was hanging in Trump’s penthouse office. In October 2017, Timothy L. O’Brien said that during his interviews with Trump for the book TrumpNation: The Art of Being The Donald, he asked Trump about the copy of Two Sisters, which was then on Trump’s plane. The Art Institute of Chicago released a statement refuting Trump’s claim that his Renoir copy was the genuine one. Trump repeatedly said his copy was the genuine work, despite O’Brien’s statements to the contrary. The original work hangs in the Art Institute of Chicago.
The exemption was reported as between $15 million and $50 million. In the lobby of the building are two Trump merchandise kiosks (one of which replaced a long public bench) operating out of compliance with city regulations. The tax on Trump Tower was upheld in a 4-to-1 decision. The city issued a notice of violation in July 2015, demanding the bench be put back in place. Trump’s organization stated in January 2016 that the kiosks would be removed in two to four weeks, before an expected court ruling. The City of New York (one-time offer) granted Trump permission to build the top twenty stories of the building in exchange for operating the atrium as a city-administered, privately owned public space.
Rubin & Mandell 1984, p. Vol. 1, no. 1. pp. Silverstein, Jason (April 21, 2019). “Trump buildings could be forced to go green under sweeping New York City climate bill”. Seinuk, Ysrael A.; Cantor, Irwin G. (March 1984). “Trump Tower: Concrete Satisfies Architectural, design, and construction demands”. Electronic Journal of Structural Engineering. Rubin & Mandell 1984, p. Concrete International. Vol. 6, no. 3. pp. Ali, Mir M. (2001). “Evolution of Concrete Skyscrapers: from Ingalls to Jin Mao”.
